NJ Life Producer Exam Study Life Insurance Questions and Answers 100% Pass

NJ Life Producer Exam Study Life Insurance Questions and Answers 100% Pass An insurer must renew a renewable term policy at the policyowner's request regardless of the insurability status of the insured. Renewable Term Life Insurance 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: Fixed-amount What hours of operation is a branch office required to have? Must give public reasonable access. Under a Credit Life Policy, the amount of coverage shall not exceed the: Amount of indeptness In most circumstances, a temporary license in New Jersey shall not be valid for a period longer than: 180 Days Telemarketers must update their solicitation lists with the National Do Not Call Registry every... 31 Days When replacing existing life insurance, an agent MUST... Notify the Producer whose policy is being replaced A producer who wishes to hold a Resident NJ Life Producer license, who lives in another state, must... have their principle office in New Jersey A insurer procuring insurance for itself from another insurer is called... The ceding insurer A business name authorization expires in 90 days A first time applicant is someone who has not been licensed as a producer for the previous... 12 months When applying for a producer's license, an applicant must have passed the State Licensing Exam within how long from the date of their application for license? 12 months In which of the following are proceeds left with the insurer and earnings sent to the beneficiary? Interest-only Under what type of life insurance policy will the death benefit vary, based on the performance of an underlying portfolio of securities? Variable Life Generally, premiums paid on an individual life insurance policy are: Not Tax Deductable A 10 year family income policy was purchased effective April 1, 2007. The insured died August 1, 2007. The beneficiary receives monthly income for: 9 years and 8 months 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? the face amount less the annual premium If the primary beneficiary dies before an insured, the individuals are paid when the insured dies are... Contingent beneficiaries