New Jersey life insurance exam
QUESTIONS AND VERIFIED CORRECT
SOLUTIONS || 100% GUARANTEED PASS
BRAND NEW VERSION
adhesion -ANSWER✅✅✅✅(take it or leave it) no changing the contract. take it as is.
aleatory contract -ANSWER✅✅✅✅(uneven) You will never pay as much in premium
as what you get in coverage
peril -ANSWER✅✅✅✅died of a certain way
Hazard -ANSWER✅✅✅✅cause of loss
Variable Universal Life -ANSWER✅✅✅✅requires FINRA license
the difference between insure vs. insured -ANSWER✅✅✅✅Insure (must pay policy
benefit "the company") insured (the customer)
S & P 500 -ANSWER✅✅✅✅Equity index annuity would have a minimum guaranteed
interest rate, but may have a higher rate of return
who must sign application of insurance -ANSWER✅✅✅✅Owner, insured, and agent
all three must sign
Differed compensation plans -ANSWER✅✅✅✅an example of a non qualified
retirement plan
Qualified retirement plans -ANSWER✅✅✅✅Keogh, 401K, IRA
conditional receipt -ANSWER✅✅✅✅serves as proof that the agent confirmed the
insurance company will fully insure the applicant
accelerated living benefit -ANSWER✅✅✅✅pays out death benefit while alive due to
illness live threatning reason
QUESTIONS AND VERIFIED CORRECT
SOLUTIONS || 100% GUARANTEED PASS
BRAND NEW VERSION
adhesion -ANSWER✅✅✅✅(take it or leave it) no changing the contract. take it as is.
aleatory contract -ANSWER✅✅✅✅(uneven) You will never pay as much in premium
as what you get in coverage
peril -ANSWER✅✅✅✅died of a certain way
Hazard -ANSWER✅✅✅✅cause of loss
Variable Universal Life -ANSWER✅✅✅✅requires FINRA license
the difference between insure vs. insured -ANSWER✅✅✅✅Insure (must pay policy
benefit "the company") insured (the customer)
S & P 500 -ANSWER✅✅✅✅Equity index annuity would have a minimum guaranteed
interest rate, but may have a higher rate of return
who must sign application of insurance -ANSWER✅✅✅✅Owner, insured, and agent
all three must sign
Differed compensation plans -ANSWER✅✅✅✅an example of a non qualified
retirement plan
Qualified retirement plans -ANSWER✅✅✅✅Keogh, 401K, IRA
conditional receipt -ANSWER✅✅✅✅serves as proof that the agent confirmed the
insurance company will fully insure the applicant
accelerated living benefit -ANSWER✅✅✅✅pays out death benefit while alive due to
illness live threatning reason
