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NJ LIFE PRODUCER EXAM
QUESTIONS AND ANSWER S
LATEST VERSION ( A+ GRADED
100% VERIFIED).
Question : Renewable Term Life Insurance
CORRECT ANSWER : An insurer must renew a
renewable term policy at the policyowner's request regardless of the insurability status of the insured.
Question : Fixed-amount
CORRECT ANSWER : 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:
Question : What hours of operation is a branch office
required to have?
CORRECT ANSWER : Must give public reasonable
access.
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Question : Under a Credit Life Policy, the amount of
coverage shall not exceed the:
CORRECT ANSWER : Amount of indeptness
Question : In most circumstances, a temporary license in
New Jersey shall not be valid for a period longer than:
CORRECT ANSWER : 180 Days
Question : Telemarketers must update their solicitation
lists with the National Do Not Call Registry every...
CORRECT ANSWER: 31 Days
Question : When replacing existing life insurance, an
agent MUST...
CORRECT ANSWER : Notify the Producer whose
policy is being replaced
Question : A producer who wishes to hold a Resident NJ
Life Producer license, who lives in another state, must...
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CORRECT ANSWER : have their principle office in
New Jersey
Question : A insurer procuring insurance for itself from
another insurer is called...
CORRECT ANSWER : The ceding insurer
Question : A business name authorization expires in
CORRECT ANSWER: 90 days
Question : A first time applicant is someone who has not
been licensed as a producer for the previous...
CORRECT ANSWER : 12 months
Question : When applying for a producer's license, an
applicant must have passed the State Licensing Exam within how long from the date of their application for license?
CORRECT ANSWER : 12 months
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Question : In which of the following are proceeds left
with the insurer and earnings sent to the beneficiary?
CORRECT ANSWER : Interest-only
Question : Under what type of life insurance policy will
the death benefit vary, based on the performance of an underlying portfolio of securities?
CORRECT ANSWER : Variable Life
Question : Generally, premiums paid on an individual life
insurance policy are:
CORRECT ANSWER : Not Tax Deductable
Question : A 10 year family income policy was purchased
effective April 1, 2007. The insured died August 1, 2007.
The beneficiary receives monthly income for:
CORRECT ANSWER : 9 years and 8 months
Question : John the insured dies during the grace period
of his life insurance policy and had not paid the annual
