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NJ Life Producer Exam Study Life Insurance Questions and Answers 100% Pass
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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 pub...
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NJ LIFE PRODUCER EXAM (INSURANCE AND LAWS) LATEST VERSION 2024-2025 WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS|ALREADY GRADED A+|100% GUARANTEED TO PASS CONCEPTS
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NJ LIFE PRODUCER EXAM (INSURANCE AND LAWS) LATEST VERSION WITH ACTUAL QUESTIONS AND CORRECT VERIFIED ANSWERS|ALREADY GRADED A+|100% GUARANTEED TO PASS CONCEPTS
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PRIMERICA LIFE INSURANCE EXAM AND ACTUAL ANSWERS 2024.
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An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? 
 
a. mutual 
b. reciprocal 
c. nonprofit service organization 
d. stock - Answer A. mutual 
 
funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds ...
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Casualty Producer NJ License Exam Fully Solved 2024.
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Powers and duties of Commissioner - Answer Conduct research 
Make reasonable rules and regulations 
Issue orders and notices 
Issue insurance licenses and certificates of authority 
Impose penalties 
Approve insurance policy forms and rates 
 
10 - Answer Amount of days notice before hearing 
 
Producers can be - Answer Agents, brokers or both 
 
Insurance agent - Answer a licensed insurance producer who is appointed by an insurer to sell insurance. represents the insurer not the insure...
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Casualty Producer NJ Training Exam With All Correct Solutions 2024.
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Powers and duties of Commissioner - Answer Conduct research 
Make reasonable rules and regulations 
Issue orders and notices 
Issue insurance licenses and certificates of authority 
Impose penalties 
Approve insurance policy forms and rates 
 
Amount of days notice before hearing - Answer 10 
 
Retrocession - Answer When a reinsurer transfers risks it has accepted to another insurer 
 
Producers can be - Answer Agents, brokers or both 
 
Insurance agent - Answer a licensed insurance p...
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Life & Health Insurance Exam Colorado Test Questions With Correct Solutions 2024.
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Traditional Whole Life - Answer -Ordinary (Straight) Life 
-Limited-Pay & Single-Premium Whole Life 
-Adjustable Whole Life 
 
Ordinary (Straight) Life - Answer -Until 100 or Death, whichever comes first 
-Permanent Protection 
-Rates & benefits based on law of large numbers (Mortality Rate) 
-Guaranteed, tax-deferred interest rate 
-Premium level, company's risk goes down as cash value goes up 
-Insurer keeps the cash value if death to offset risk 
-Lowest net cost in long run 
-Client h...
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New Jersey Life and Health Post Exam With Solved Solutions 2024.
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Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer Home health care 
 
Which of the following is NOT a federal requirement of a qualified plan? - Answer Employee must be able to make unlimited contributions 
 
Why are dividends from a mutual insurer not subject to taxation? - Answer Because dividends are considered to be a return of premium 
 
The treasurer of XYZ Insurance Company discovers that...
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NJ Accident and Health Producer Practice Exam Fully Solved 2024.
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According to the Time Payment of Claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT: 
- if the insured is able to eventually return to work 
-if the death is suicide or due to a pre existing condition 
-when the policy is in the incontestability period 
-for claims involving periodic payments - Answer for claims involving periodic payments 
 
INSURERS MUST PAY LUMP SUM CLAIMS IMMEDIATELY AFTER RECEIVING PROOF OF LOSS 
 
What does coinsurance ...
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NJ Laws, Rules, and Regulations Study Guide Exam With Solved Solutions 2024.
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An insurer cancelled a contract with a producer on April 1st. By what date must the insurer notify the Commissioner of this action? 
A. April 30th 
B. April 5th 
C. April 11th 
D. April 15th - Answer D. April 15th 
 
An insurer goes bankrupt and is unable to pay on any of its insureds' claims. Which of the following will happen? 
A. The insureds will not be paid. 
B. The claims will be paid by a nationally-based program. 
C. The claims will be paid by the state Life and Health Guaranty Associ...
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NJ Life Final Exam Questions With Solutions Graded A+ 2024.
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Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? 
 
Financial loss value 
Human life value 
Assessment value 
Replacement value - Answer Human life value 
 
The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer - Answer Is insolvent 
 
An individual most likely will have an insurable interest in insuring a person's life if - Answer An economic interest exists for t...
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NJ Life Insurance Final Exam And Verified Complete Answers 2024.
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Adverse Selection - Answer insuring of risks that are more prone to losses than the average risk 
 
lapse - Answer policy termination due to nonpayment of premium 
 
Insurance - Answer transfers risk of loss from an individual or business entity to an insurance company which in turn spreads the costs of unexpected losses to many individuals 
 
Life Insurance - Answer protects against loss associated with an insured's death, and pays a death benefit to beneficiaries upon death of the ins...
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NJ Life Insurance Test Questions And Quality Answers 2024.
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The McCarran-Ferguson Act was passed by Congress to - Answer Redefine the authority of the state and federal government to regulate the 
insurance industry 
 
The principle that insurance is not a transaction of commerce and so should be 
regulated by the state was established in: - Answer Paul v. Virginia 
 
In New Jersey, a producer who violates a New Jersey insurance law for the first time 
may be fined up to - Answer $5,000 
 
The New Jersey Banking and Insurance Commissioner has the a...
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