NJ Life Producer Exam Questions and Answers Graded A+

NJ Life Producer Exam Questions and Answers Graded A+ Under a Traditional IRA, interest earned is taxed upon distribution Which of these statements regarding the annuitants is CORRECT? The annuitant's life expectancy determines the annuity payment What will the beneficiary receive is annuitant dies during the accumulation period? The greater the accumulated cash value or the total premium paid Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? Submit to to the replacing insurer a list of the policies to be replaced All pre-licensing course completion certificate are valid for a period of ? 2 years A partial surrender is allowed in which of the following life policies? Universal life What happens to interest earned if the annuitant dies before the payout start date? It is taxable How are annuities given favorable tax treatment? gains are taxed at distribution Fixed period settlement options are considered to be a form of a(n) annuity Matt is applying for life insurance and requests a double indemnity rider. A double indemnity benefit will be payable to Matt's beneficiary if Matt dies instantly from a car accident A modified insurance contract which accumulates cash values higher than the IRS will allow A life insurance contract which accumulates cash values higher than the IRS will allow A(n) _____ insurance company is one that was formed under the laws of a state other than New Jersey. Foreign An example of a tax-qualified retirement plan would be a(n) defined contribution plan How soon can the benefit payments begin with a deferred annuity? a minimum of 12 months after date of purchase A securities license is required for a life insurance producer to sell Variable Life Insurance A whole life insurance policy accumulates cash value that becomes the policy loan value which the insured may borrow against The coverage, conditions, and limitations in the master policy of a group contract can be found in which document? Certificate of coverage and benefits Which of the following policies does NOT build cash value? term When the word "insurance" appears in a