Insurance Licensing New Jersey Life Producer - NJ-Life-Producer Exam Practice Test
Which of the following statements is true about premium refunds resulting from the cancellation of a credit life policy?
Correct Answer: D
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
The applicant must face the possibility of losing something of value in the event of the insured's death. This principle is known as
Correct Answer: C
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
For a New Jersey insurance producer to charge a prospective insured for analyzing insurance coverages, there must be a reasonable relationship between the fee and the
Correct Answer: A
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
A licensed life or health producer who solicits insurance in New Jersey, has not selected New Jersey as his home state, and resides and maintains the principal office in another state is defined as
Correct Answer: C
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
Which of the following transactions would not be subject to income tax under a Modified Endowment Contract (MEC)?
Correct Answer: A
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
Which of the following retirement plans is not restricted to contribution limits set by the IRS?
Correct Answer: B
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
An insurance producer sends an invitation for a seminar on college funding. According to New Jersey law, what must be contained in the mailer if the producer intends to solicit insurance at the seminar?
Correct Answer: D
Vote an answer
Explanation: Only visible for PassTestking 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?
Correct Answer: A
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
In order to receive fees other than commissions from a life insurance prospect, an insurance producer acting as a consultant must first
Correct Answer: A
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).
Which of the following statements is true regarding a Waiver of Premium Rider?
Correct Answer: A
Vote an answer
Explanation: Only visible for PassTestking members. You can sign-up / login (it's free).