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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Life Insurance Fundamentals | - Policy provisions and clauses
|
| State Regulations (New Jersey) | - Insurance laws and ethics
|
| Underwriting and Policy Issuance | - Risk classification
|
| Life Insurance and Annuities | - Annuity basics
|
Insurance Licensing New Jersey Life Producer Sample Questions:
The premium mode defines the
- A. Frequency of the premium payment.
- B. Premium limit.
- C. Premium amount.
- D. Method of premium payment.
Correct Answer: A 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
A policyowner cannot change the beneficiary if he has named
- A. A revocable beneficiary.
- B. An irrevocable beneficiary.
- C. A spouse.
- D. A permanent beneficiary.
Correct Answer: B 🗳️
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Which type of insurance policy is characterized by premiums that are fully paid up within a stated period, after which no further premiums are required?
- A. Basic installment insurance.
- B. Limited payment life insurance.
- C. Lump sum insurance.
- D. Prepaid premium insurance.
Correct Answer: B 🗳️
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The settlement option that allows proceeds to remain with the insurer and the earnings to be paid to the beneficiary on a monthly basis is called
- A. Interest only.
- B. Fixed period.
- C. Lump sum.
- D. Fixed amount.
Correct Answer: A 🗳️
Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).
If a life policy is replaced by a new life policy, all of the following forms are needed EXCEPT
- A. A Policy Summary.
- B. A statement signed by the agent.
- C. A statement signed by the applicant.
- D. A complete dividend history of the policy to be replaced.
Correct Answer: D 🗳️
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