2025 NJ LIFE PRODUCER EXAM | ALL QUESTIONS
AND CORRECT ANSWERS | ALREADY GRADED A+ |
VERIFIED ANSWERS | LATEST EXAM
Craig submits a $500 claim for medical expenses. With a past due
premium of $100, the insurer pays $400. Which of the Uniform Optional
Provisions converse this situation? ---------CORRECT ANSWER---------------
--Unpaid premium
Which of the following is an annuity that is linked to a market-related index?
---------CORRECT ANSWER-----------------Equity-indexed annuity
In order to obtain a producer's license, the application must be received by
the Department within what period of time listed before? ---------CORRECT
ANSWER-----------------12 month after passing the state exam
Ron has a life insurance policy with a face value of $100,000 and a cost of
living rider. If the consumer price index has gone up 4%, how much may
Ron increase the face value of the policy? ---------CORRECT ANSWER-----
------------$4,000
An indemnity plan ---------CORRECT ANSWER-----------------provides the
insured a specific dollar amount of services.
The purpose of the Life and Health Insurance Guaranty Association is to ---
------CORRECT ANSWER-----------------ensure the claims filed against
insolvent insurance companies will be paid.
,A health insurance policy where the insurer has the right to terminate the
policy for reasons other than the insured's health is called ---------
CORRECT ANSWER-----------------conditionally renewable.
Sole proprietors are permitted tax deductions for health costs paid from
their earnings in the amount of ---------CORRECT ANSWER-----------------
100% of costs.
The period in which there are no Social Security benefits for the surviving
spouse is called the ---------CORRECT ANSWER-----------------blackout
period.
The elimination period under a hospital indemnity plan is ---------CORRECT
ANSWER-----------------the specified number of days an insured must wait
before becoming eligible to receive benefits for each hospitalization.
An annuity is primarily used to provide ---------CORRECT ANSWER----------
-------retirement income.
Continued coverage under COBRA would be provided to all of the following
EXCEPT: ---------CORRECT ANSWER-----------------a covered employees is
terminated for gross misconduct.
The type of multiple protection coverage that pays on the death of the last
person is called a(n) ---------CORRECT ANSWER-----------------survivorship
life policy.
,In which of the following situation would the insurer be liable for a loss? -----
----CORRECT ANSWER-----------------The insured suffered an injury as an
innocent bystander during a bank robbery.
Kathy pays a monthly premium on her health insurance policy. How long is
her grace period? ---------CORRECT ANSWER-----------------10 days
The principle of insurable interest, in regards to a life insurance contract, is
accurately described in which statement? ---------CORRECT ANSWER------
-----------Insurable interest can be based on the life and affection of
individuals related by blood or law
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT regarding
the death benefit amount? ---------CORRECT ANSWER-----------------The
death benefit paid will be what the premium would have purchased at the
correct age
In advertisement of life insurance and annuities, all of the following are true
EXCEPT ---------CORRECT ANSWER-----------------advertisement must
include training material provided to the producer.
An insurer will accept a premium from the insured and continue the
coverage in full force as though it was NOT late during which time period? -
--------CORRECT ANSWER-----------------grace period
, Which of the following is NOT a required provision in an accident and
health insurance policy? ---------CORRECT ANSWER-----------------change
of occupation
An employer is issued a group medical insurance policy. This single
contract is known as a(n) ---------CORRECT ANSWER-----------------master
policy
An interest-sensitive life insurance Policyowner may be able to withdraw
the policy's cash value interest free. The provision that allows this is called
---------CORRECT ANSWER-----------------partial surrender
The reinstatement provision in a health insurance policy is ---------
CORRECT ANSWER-----------------mandatory
A health insurance policy that allows an insurer to change the
policyowner's premiums, but NOT cancel the policy is called a(n) ---------
CORRECT ANSWER-----------------guaranteed renewable policy
Level premium term life insurance policies ---------CORRECT ANSWER-----
------------automatically convert to permanent at a predetermined date.
In an insurance contract, the insurer is the only party legally obligated to
perform. Because of this, an insurance contract is considered ---------
CORRECT ANSWER-----------------inilateral
AND CORRECT ANSWERS | ALREADY GRADED A+ |
VERIFIED ANSWERS | LATEST EXAM
Craig submits a $500 claim for medical expenses. With a past due
premium of $100, the insurer pays $400. Which of the Uniform Optional
Provisions converse this situation? ---------CORRECT ANSWER---------------
--Unpaid premium
Which of the following is an annuity that is linked to a market-related index?
---------CORRECT ANSWER-----------------Equity-indexed annuity
In order to obtain a producer's license, the application must be received by
the Department within what period of time listed before? ---------CORRECT
ANSWER-----------------12 month after passing the state exam
Ron has a life insurance policy with a face value of $100,000 and a cost of
living rider. If the consumer price index has gone up 4%, how much may
Ron increase the face value of the policy? ---------CORRECT ANSWER-----
------------$4,000
An indemnity plan ---------CORRECT ANSWER-----------------provides the
insured a specific dollar amount of services.
The purpose of the Life and Health Insurance Guaranty Association is to ---
------CORRECT ANSWER-----------------ensure the claims filed against
insolvent insurance companies will be paid.
,A health insurance policy where the insurer has the right to terminate the
policy for reasons other than the insured's health is called ---------
CORRECT ANSWER-----------------conditionally renewable.
Sole proprietors are permitted tax deductions for health costs paid from
their earnings in the amount of ---------CORRECT ANSWER-----------------
100% of costs.
The period in which there are no Social Security benefits for the surviving
spouse is called the ---------CORRECT ANSWER-----------------blackout
period.
The elimination period under a hospital indemnity plan is ---------CORRECT
ANSWER-----------------the specified number of days an insured must wait
before becoming eligible to receive benefits for each hospitalization.
An annuity is primarily used to provide ---------CORRECT ANSWER----------
-------retirement income.
Continued coverage under COBRA would be provided to all of the following
EXCEPT: ---------CORRECT ANSWER-----------------a covered employees is
terminated for gross misconduct.
The type of multiple protection coverage that pays on the death of the last
person is called a(n) ---------CORRECT ANSWER-----------------survivorship
life policy.
,In which of the following situation would the insurer be liable for a loss? -----
----CORRECT ANSWER-----------------The insured suffered an injury as an
innocent bystander during a bank robbery.
Kathy pays a monthly premium on her health insurance policy. How long is
her grace period? ---------CORRECT ANSWER-----------------10 days
The principle of insurable interest, in regards to a life insurance contract, is
accurately described in which statement? ---------CORRECT ANSWER------
-----------Insurable interest can be based on the life and affection of
individuals related by blood or law
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT regarding
the death benefit amount? ---------CORRECT ANSWER-----------------The
death benefit paid will be what the premium would have purchased at the
correct age
In advertisement of life insurance and annuities, all of the following are true
EXCEPT ---------CORRECT ANSWER-----------------advertisement must
include training material provided to the producer.
An insurer will accept a premium from the insured and continue the
coverage in full force as though it was NOT late during which time period? -
--------CORRECT ANSWER-----------------grace period
, Which of the following is NOT a required provision in an accident and
health insurance policy? ---------CORRECT ANSWER-----------------change
of occupation
An employer is issued a group medical insurance policy. This single
contract is known as a(n) ---------CORRECT ANSWER-----------------master
policy
An interest-sensitive life insurance Policyowner may be able to withdraw
the policy's cash value interest free. The provision that allows this is called
---------CORRECT ANSWER-----------------partial surrender
The reinstatement provision in a health insurance policy is ---------
CORRECT ANSWER-----------------mandatory
A health insurance policy that allows an insurer to change the
policyowner's premiums, but NOT cancel the policy is called a(n) ---------
CORRECT ANSWER-----------------guaranteed renewable policy
Level premium term life insurance policies ---------CORRECT ANSWER-----
------------automatically convert to permanent at a predetermined date.
In an insurance contract, the insurer is the only party legally obligated to
perform. Because of this, an insurance contract is considered ---------
CORRECT ANSWER-----------------inilateral
