NJ LIFE PRODUCER EXAM QUESTIONS AND
ANSWERS GRADED A+ LATEST UPDATE.
Under a Traditional IRA, interest earned is taxed ANS >>> upon
distribution
Which of these statements regarding the annuitants is
CORRECT? ANS >>> The annuitant's life expectancy determines
the annuity payment
What will the beneficiary receive is annuitant dies during the
accumulation period? ANS >>> 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? ANS >>> 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? ANS >>> 2 years
A partial surrender is allowed in which of the following life
policies? ANS >>> Universal life
What happens to interest earned if the annuitant dies before
the payout start date? ANS >>> It is taxable
How are annuities given favourable tax treatment? ANS >>> gains
are taxed at distribution
Fixed period settlement options are considered to be a form of
a(n) ANS >>> 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 ANS >>> dies instantly from a car
accident
, A modified insurance contract which accumulates cash values
higher than the IRS will allow ANS >>> 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. ANS >>> Foreign
An example of a tax-qualified retirement plan would be a(n) ANS
>>> defined contribution plan
How soon can the benefit payments begin with a deferred
annuity? ANS >>> a minimum of 12 months after date of purchase
A securities license is required for a life insurance producer to
sell ANS >>> Variable Life Insurance
A whole life insurance policy accumulates cash value that
becomes ANS >>> 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? ANS >>>
Certificate of coverage and benefits
ANSWERS GRADED A+ LATEST UPDATE.
Under a Traditional IRA, interest earned is taxed ANS >>> upon
distribution
Which of these statements regarding the annuitants is
CORRECT? ANS >>> The annuitant's life expectancy determines
the annuity payment
What will the beneficiary receive is annuitant dies during the
accumulation period? ANS >>> 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? ANS >>> 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? ANS >>> 2 years
A partial surrender is allowed in which of the following life
policies? ANS >>> Universal life
What happens to interest earned if the annuitant dies before
the payout start date? ANS >>> It is taxable
How are annuities given favourable tax treatment? ANS >>> gains
are taxed at distribution
Fixed period settlement options are considered to be a form of
a(n) ANS >>> 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 ANS >>> dies instantly from a car
accident
, A modified insurance contract which accumulates cash values
higher than the IRS will allow ANS >>> 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. ANS >>> Foreign
An example of a tax-qualified retirement plan would be a(n) ANS
>>> defined contribution plan
How soon can the benefit payments begin with a deferred
annuity? ANS >>> a minimum of 12 months after date of purchase
A securities license is required for a life insurance producer to
sell ANS >>> Variable Life Insurance
A whole life insurance policy accumulates cash value that
becomes ANS >>> 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? ANS >>>
Certificate of coverage and benefits
