NJ Life Producer Exam Study Life Insurance
1. Renewable Term Life Insurance: An insurer must renew a renewable term policy
at the policyowner's request regardless of the insurability status of the insured.
2. Fixed-amount: The settlement option that provides for payments to be made in
regular installments to a beneficiary until the principal and interest are exhausted
best describes:
3. Must give public reasonable access.: What hours of operation is a branch office
required to have?
4. Amount of indeptness: Under a Credit Life Policy, the amount of coverage shall
not exceed the:
5. 180 Days: In most circumstances, a temporary license in New Jersey shall not
be valid for a period longer than:
6. 31 Days: Telemarketers must update their solicitation lists with the National Do
Not Call Registry every...
7. Notify the Producer whose policy is being replaced: When replacing existing
life insurance, an agent MUST...
8. have their principle office in New Jersey: A producer who wishes to hold a
Resident NJ Life Producer license, who lives in another state, must...
9. The ceding insurer: A insurer procuring insurance for itself from another insurer
is called...
10. 90 days: A business name authorization expires in
11. 12 months: A first time applicant is someone who has not been licensed as a
producer for the previous...
12. 12 months: When applying for a producer's license, an applicant must have
1
, passed the State Licensing Exam within how long from the date of their application
for license?
13. Interest-only: In which of the following are proceeds left with the insurer and
earnings sent to the beneficiary?
14. Variable Life: Under what type of life insurance policy will the death benefit vary,
based on the performance of an underlying portfolio of securities?
15. Not Tax Deductable: Generally, premiums paid on an individual life insurance
policy are:
16. 9 years and 8 months: A 10 year family income policy was purchased effective
April 1, 2007. The insured died August 1, 2007. The beneficiary receives monthly
income for:
17. the face amount less the annual premium: John the insured dies during the
grace period of his life insurance policy and had not paid the annual premium. The
insurance company is obligated to pay which of the following to the beneficiary?
18. Contingent beneficiaries: If the primary beneficiary dies before an insured, the
individuals are paid when the insured dies are...
19. premium mode: The aspect of a policy that allows a policyholder to select the
timing of premium payments is known as...
20. Pay an amount equivalent to that which the premium would have purchased
at the correct age: If an insured understates her age and this is discovered
upon her death, the insurer will...
21. provide income for retirement: The primary purpose for an annuity is to...
22. premium schedule: Which of the following features makes Universal Life insurance
different from other forms of permanent insurance?
23. Automatic premium loan: An insured may receive protection against the unintentional
2
1. Renewable Term Life Insurance: An insurer must renew a renewable term policy
at the policyowner's request regardless of the insurability status of the insured.
2. Fixed-amount: The settlement option that provides for payments to be made in
regular installments to a beneficiary until the principal and interest are exhausted
best describes:
3. Must give public reasonable access.: What hours of operation is a branch office
required to have?
4. Amount of indeptness: Under a Credit Life Policy, the amount of coverage shall
not exceed the:
5. 180 Days: In most circumstances, a temporary license in New Jersey shall not
be valid for a period longer than:
6. 31 Days: Telemarketers must update their solicitation lists with the National Do
Not Call Registry every...
7. Notify the Producer whose policy is being replaced: When replacing existing
life insurance, an agent MUST...
8. have their principle office in New Jersey: A producer who wishes to hold a
Resident NJ Life Producer license, who lives in another state, must...
9. The ceding insurer: A insurer procuring insurance for itself from another insurer
is called...
10. 90 days: A business name authorization expires in
11. 12 months: A first time applicant is someone who has not been licensed as a
producer for the previous...
12. 12 months: When applying for a producer's license, an applicant must have
1
, passed the State Licensing Exam within how long from the date of their application
for license?
13. Interest-only: In which of the following are proceeds left with the insurer and
earnings sent to the beneficiary?
14. Variable Life: Under what type of life insurance policy will the death benefit vary,
based on the performance of an underlying portfolio of securities?
15. Not Tax Deductable: Generally, premiums paid on an individual life insurance
policy are:
16. 9 years and 8 months: A 10 year family income policy was purchased effective
April 1, 2007. The insured died August 1, 2007. The beneficiary receives monthly
income for:
17. the face amount less the annual premium: John the insured dies during the
grace period of his life insurance policy and had not paid the annual premium. The
insurance company is obligated to pay which of the following to the beneficiary?
18. Contingent beneficiaries: If the primary beneficiary dies before an insured, the
individuals are paid when the insured dies are...
19. premium mode: The aspect of a policy that allows a policyholder to select the
timing of premium payments is known as...
20. Pay an amount equivalent to that which the premium would have purchased
at the correct age: If an insured understates her age and this is discovered
upon her death, the insurer will...
21. provide income for retirement: The primary purpose for an annuity is to...
22. premium schedule: Which of the following features makes Universal Life insurance
different from other forms of permanent insurance?
23. Automatic premium loan: An insured may receive protection against the unintentional
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