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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: State Regulations (New Jersey) | - Insurance laws and ethics
|
| Topic 2: Underwriting and Policy Issuance | - Risk classification
|
| Topic 3: Life Insurance and Annuities | - Annuity basics
|
| Topic 4: Life Insurance Fundamentals | - Policy provisions and clauses
|
Insurance Licensing New Jersey Life Producer Sample Questions:
Which of the following statements is true regarding a Waiver of Premium Rider?
- A. The insured will automatically become eligible for Accelerated Death Benefits.
- B. The policy's cash value will continue to grow, but at a slower rate because the insured is no longer paying premiums.
- C. The death benefit will be reduced by the amount of the unpaid premiums.
- D. There will be no change in the policy's rates, benefits, or options other than that the insured no longer has to pay the premiums on the policy.
Correct Answer: D 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
All of the following items may be considered forms of advertising for life insurance EXCEPT
- A. Buyer's Guides.
- B. Sales presentations.
- C. Audiovisual materials.
- D. Informational brochures.
Correct Answer: A 🗳️
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If a policyowner chooses to pay premiums for a specified number of years, this permanent life insurance policy is referred to as
- A. An adjustable life policy.
- B. A graded-premium whole life policy.
- C. A variable whole life policy.
- D. A limited-pay policy.
Correct Answer: D 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
An insurance company that terminates a producer's agency contract is required to file a written notice of the termination with the Banking and Insurance Department at which of the following times?
- A. A maximum of 7 days after the termination date.
- B. A maximum of 15 days after the termination date.
- C. Immediately.
- D. A maximum of 30 days after the termination date.
Correct Answer: B 🗳️
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What is the purpose of the automatic premium loan rider?
- A. The insurer will pay the premium if the insured is permanently disabled.
- B. Protects the policyowner against an unintentional lapse of coverage.
- C. Guarantees the insured the right to purchase additional insurance without evidence of insurability.
- D. Allows partial surrender of a term policy.
Correct Answer: B 🗳️
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