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NJ Life Producer Exam |Well Revised
Questions And Answers 2026
The provision that addresses misstatements made by applicant on an application
is- correct-answer - Incontestability clause
The grace period in a life insurance policy begins - correct-answer - when the
premium is due
which of the following would best be used for estate planning purposes? -
correct-answer - survivorship life
if an insurer wants to obtain an HIV test from an applicant - correct-answer - they
must obtain the applicant's written consent
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standard non-forfeiture benefits include - correct-answer - reduced paid up
insurance
Reinstatement of a life insurance policy requires an insured to take all of the
following actions EXCEPT: - correct-answer - make collateral assignment to the
insurer
A contract that promises to pay an income to an insured until their death is
called? - correct-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: - correct-answer - an
acceleration of life insurance benefit
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All of the following are true about a stock insurance company EXCEPT: - correct-
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: - correct-answer - coverage on the insurer's children within 15 days
after they are born
All of the following are true statements regarding representation EXCEPT: -
correct-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? - correct-answer -
Foreign
NJ Life Producer Exam |Well Revised
Questions And Answers 2026
The provision that addresses misstatements made by applicant on an application
is- correct-answer - Incontestability clause
The grace period in a life insurance policy begins - correct-answer - when the
premium is due
which of the following would best be used for estate planning purposes? -
correct-answer - survivorship life
if an insurer wants to obtain an HIV test from an applicant - correct-answer - they
must obtain the applicant's written consent
,2|Page
standard non-forfeiture benefits include - correct-answer - reduced paid up
insurance
Reinstatement of a life insurance policy requires an insured to take all of the
following actions EXCEPT: - correct-answer - make collateral assignment to the
insurer
A contract that promises to pay an income to an insured until their death is
called? - correct-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: - correct-answer - an
acceleration of life insurance benefit
, 3|Page
All of the following are true about a stock insurance company EXCEPT: - correct-
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: - correct-answer - coverage on the insurer's children within 15 days
after they are born
All of the following are true statements regarding representation EXCEPT: -
correct-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? - correct-answer -
Foreign
