NEW JERSEY LIFE AND HEALTH - FINAL EXAM ACTUAL EXAM
2026 | ALL QUESTIONS WITH CORRECT ANSWERS | JUST
RELEASED
An insured individual and the policy's beneficiary die from the same
accident. The common disaster provision states the insurer will
continue as if ------------Correct Answer--------------------The insured
outlived the beneficiary
Carmen's individual life insurance policy has recently lapsed. She may
reinstate her policy within _____ years ------------Correct Answer----------
----------3
Which type of disability would be less than total impairment and equal
to permanent impairment? ------------Correct Answer--------------------
Permanent partial disability
Which of the following describes a person who is NOT acceptable by an
insurer at standard rates because of health history, occupation, or
hobbies? ------------Correct Answer--------------------Substandard risk
,Which of the following is an example of defamation? ------------Correct
Answer--------------------Using derogatory statements about an insurance
company's financial condition
When calculating the amount of life insurance needed for an income
earner, what has to be determined when using he Needs Approach? ----
--------Correct Answer--------------------The family's financial objectives if
the income earner were to die or become disabled
A beneficiary change can occur: ------------Correct Answer--------------------
Normally at any time during the policy term
Loans obtained by a policyowner against the cash value of a life
insurance policy ------------Correct Answer--------------------Would not be
treated as taxable income
The solicitation of a non-authorized contact in New Jersey violates ------
------Correct Answer--------------------New Jersey Code
,Which of the following may be used as continuation education credit? -
-----------Correct Answer--------------------Completing a CLU designation
course
What does the Group Life underwriting risk selection process help
protect insurance companies from? ------------Correct Answer---------------
-----Adverse selection
All of these are valid options for an Adjustable Life Policy EXCEPT --------
----Correct Answer--------------------A nonforfeiture option can be used to
increase the death benefit
Julie has a $100,000 30-year mortgage on her new home. What type of
life insurance could she purchase that is designed to pay off the loan
balance if she dies within the 30-year period? ------------Correct Answer-
-------------------Decreasing term insurance
EXCEPT for fraud, the time after issuance of a policy during which an
insurance company may contest a health insurance claim due to the
statements on an application is ------------Correct Answer--------------------
2 years
, All of the following are core benefits of Medicare Supplement Plan A
EXCEPT ------------Correct Answer--------------------Deductible payments
for the first 60 days of hospitalization under Medicare hospitalization
under Medicare hospitalization insurance
Jay the producer is giving insurance advice regarding a prospect's
existing coverage. If Jay were to receive a fee for this advice (in addition
to his commission), he MUST ------------Correct Answer--------------------
Obtain a signed memorandum from the prospect acknowledging the
amount of compensation
If an insured's age on a life insurance policy has been misstated, what is
the insurer's liability if the insured dies? ------------Correct Answer---------
-----------A prorated death benefit based on the amount of insurance the
insured's premiums would have been if purchased at the correct age
A guaranteed issue insurance policy has no ------------Correct Answer-----
---------------Medical underwriting
2026 | ALL QUESTIONS WITH CORRECT ANSWERS | JUST
RELEASED
An insured individual and the policy's beneficiary die from the same
accident. The common disaster provision states the insurer will
continue as if ------------Correct Answer--------------------The insured
outlived the beneficiary
Carmen's individual life insurance policy has recently lapsed. She may
reinstate her policy within _____ years ------------Correct Answer----------
----------3
Which type of disability would be less than total impairment and equal
to permanent impairment? ------------Correct Answer--------------------
Permanent partial disability
Which of the following describes a person who is NOT acceptable by an
insurer at standard rates because of health history, occupation, or
hobbies? ------------Correct Answer--------------------Substandard risk
,Which of the following is an example of defamation? ------------Correct
Answer--------------------Using derogatory statements about an insurance
company's financial condition
When calculating the amount of life insurance needed for an income
earner, what has to be determined when using he Needs Approach? ----
--------Correct Answer--------------------The family's financial objectives if
the income earner were to die or become disabled
A beneficiary change can occur: ------------Correct Answer--------------------
Normally at any time during the policy term
Loans obtained by a policyowner against the cash value of a life
insurance policy ------------Correct Answer--------------------Would not be
treated as taxable income
The solicitation of a non-authorized contact in New Jersey violates ------
------Correct Answer--------------------New Jersey Code
,Which of the following may be used as continuation education credit? -
-----------Correct Answer--------------------Completing a CLU designation
course
What does the Group Life underwriting risk selection process help
protect insurance companies from? ------------Correct Answer---------------
-----Adverse selection
All of these are valid options for an Adjustable Life Policy EXCEPT --------
----Correct Answer--------------------A nonforfeiture option can be used to
increase the death benefit
Julie has a $100,000 30-year mortgage on her new home. What type of
life insurance could she purchase that is designed to pay off the loan
balance if she dies within the 30-year period? ------------Correct Answer-
-------------------Decreasing term insurance
EXCEPT for fraud, the time after issuance of a policy during which an
insurance company may contest a health insurance claim due to the
statements on an application is ------------Correct Answer--------------------
2 years
, All of the following are core benefits of Medicare Supplement Plan A
EXCEPT ------------Correct Answer--------------------Deductible payments
for the first 60 days of hospitalization under Medicare hospitalization
under Medicare hospitalization insurance
Jay the producer is giving insurance advice regarding a prospect's
existing coverage. If Jay were to receive a fee for this advice (in addition
to his commission), he MUST ------------Correct Answer--------------------
Obtain a signed memorandum from the prospect acknowledging the
amount of compensation
If an insured's age on a life insurance policy has been misstated, what is
the insurer's liability if the insured dies? ------------Correct Answer---------
-----------A prorated death benefit based on the amount of insurance the
insured's premiums would have been if purchased at the correct age
A guaranteed issue insurance policy has no ------------Correct Answer-----
---------------Medical underwriting
