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NJ LIFE PRODUCER FINAL EXAM NEWEST 2024 ACTUAL EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW VERSION!! $27.49
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NJ LIFE PRODUCER FINAL EXAM NEWEST 2024 ACTUAL EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW VERSION!!
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Course
NJ LIFE PRODUCER
Institution
NJ LIFE PRODUCER
NJ LIFE PRODUCER FINAL EXAM NEWEST
2024 ACTUAL EXAM COMPLETE 100
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW
VERSION!!
NJ LIFE PRODUCER FINAL EXAM NEWEST
2024 ACTUAL EXAM COMPLETE 100
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW
VERSION!!
Which of the following states the terms of coverage during the
underwriting process? - ANSWER- the conditional receipt
The provision that addresses misstatements made by applicant
on an application is.. - ANSWER- Incontestability clause
The grace period in a life insurance policy begins - ANSWER-
when the premium is due
which of the following would best be used for estate planning
purposes? - ANSWER- survivorship life
if an insurer wants to obtain an HIV test from an applicant -
ANSWER- they must obtain the applicant's written consent
,2|Page
standard non-forfeiture benefits include - ANSWER- reduced
paid up insurance
Reinstatement of a life insurance policy requires an insured to
take all of the following actions EXCEPT: - ANSWER- make
collateral assignment to the insurer
A contract that promises to pay an income to an insured until
their death is called? - ANSWER- Life annuity
In a life policy, a special benefit that prepays a portion of a death
benefit during the lifetime of an insurer in the event of a
specified illness: - ANSWER- an acceleration of life insurance
benefit
All of the following are true about a stock insurance company
EXCEPT: - ANSWER- Their policy holders vote for the
members of the board of directors
If a policy contains a Guaranteed Insurability rider, the insured
has the right to purchase: - ANSWER- coverage on the insurer's
children within 15 days after they are born
, 3|Page
All of the following are true statements regarding representation
EXCEPT: - ANSWER- a statement that is guaranteed to be true
An insurance company incorporated in Indiana, with its home
office in Texas, is licensed to conduct business in all states
except Pennsylvania. in Texas, this company would best be
described as which of the following? - ANSWER- Foreign
A life insurance policy that fails to meet the 7-pay test is called
a.. - ANSWER- a Modified Endowment Contract
All of the following are true statements regarding policy
dividends paid on on a life insurance contract EXCEPT: -
ANSWER- They are considered to be taxable income
The McCarran-Ferguson Act was passed y Congress to -
ANSWER- Redefine the authority of the state and federal
government to regulate the insurance industry
The principle that insurance is not a transaction of commerce
and so should bed regulated by state was established in: -
ANSWER- Paul vs. Virginia
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