NJ Life Producer Exam Question Set
With Answers GRADED A+ 2026/2027
Guaranteed Pass Verified
Which of the following amounts must decrease in a decreasing term?
Death benefit
In life insurance, insurable interest must exist at the time the..
Producer writes an on a proposed insured
An applicant makes an offer to the insurer when they
pay an initial premium with the application
Which of the following makes Universal Life insurance different from other
forms of permanent insurance?
Premium Schedule
An insurer that shares its profits with its' policyowners is known as..
A mutual insurer
Statements made by an applicant for insurance on the application are
considered to be..
Representations
In which of the following are proceeds left with the insurer and earnings sent to
the beneficiary?
Interest-Only
The primary purpose of an annuity is to..
Provide income for retirement
, Which of the following provisions in a life policy specifies the manner in which
proceeds will be paid to a beneficiary on the death of insured?
settlement options
An insurance producer takes an application for a life policy but does not collect
the initial premium. On delivery of policy to the proposed insured, the producer
must collect the initial premium and which of the following?
The insured's signed statement of continued good health
A report of previously submitted life insurance applications to other insurers is
known as:
A Medical Information Bureau report
A company decides to purchase Key Employee life insurance for its vice
president of operations. All of the following statements are correct EXCEPT the..
Employee names the beneficiary
Which of the following features allows an insurance policy to remain in force for
a specified number of days beyond the premium due date?
Grace period provision
which of the following prevents the producer from unilaterally amending a
policy?
Entire contract
interest paid on a policy loan is..
not tax deductible
An employer paid life insurance policy is called
Non-contributory group life
A tax free exchange of one life insurance policy or annuity for another is called..
1035 exchange
With Answers GRADED A+ 2026/2027
Guaranteed Pass Verified
Which of the following amounts must decrease in a decreasing term?
Death benefit
In life insurance, insurable interest must exist at the time the..
Producer writes an on a proposed insured
An applicant makes an offer to the insurer when they
pay an initial premium with the application
Which of the following makes Universal Life insurance different from other
forms of permanent insurance?
Premium Schedule
An insurer that shares its profits with its' policyowners is known as..
A mutual insurer
Statements made by an applicant for insurance on the application are
considered to be..
Representations
In which of the following are proceeds left with the insurer and earnings sent to
the beneficiary?
Interest-Only
The primary purpose of an annuity is to..
Provide income for retirement
, Which of the following provisions in a life policy specifies the manner in which
proceeds will be paid to a beneficiary on the death of insured?
settlement options
An insurance producer takes an application for a life policy but does not collect
the initial premium. On delivery of policy to the proposed insured, the producer
must collect the initial premium and which of the following?
The insured's signed statement of continued good health
A report of previously submitted life insurance applications to other insurers is
known as:
A Medical Information Bureau report
A company decides to purchase Key Employee life insurance for its vice
president of operations. All of the following statements are correct EXCEPT the..
Employee names the beneficiary
Which of the following features allows an insurance policy to remain in force for
a specified number of days beyond the premium due date?
Grace period provision
which of the following prevents the producer from unilaterally amending a
policy?
Entire contract
interest paid on a policy loan is..
not tax deductible
An employer paid life insurance policy is called
Non-contributory group life
A tax free exchange of one life insurance policy or annuity for another is called..
1035 exchange
