Insurance Licensing NJ-Life-Producer Actual Tests : New Jersey Life Producer Exam

Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

Insurance Licensing New Jersey Life Producer Sample Questions:

1. In order to receive fees other than commissions from a life insurance prospect, an insurance producer acting as a consultant must first

A) Obtain a signed written memorandum from the prospect stating the amount of compensation.
B) Obtain a written commitment from the prospect to purchase new life insurance.
C) Present a Notice Regarding Replacement of Life Insurance form to the prospect.
D) Present a Comparative Information form to the prospect.

2. If a producer makes a sales proposal or presentation that fails to fairly and fully disclose future premium charges, benefits, and any options included in the policy, the producer may be found guilty of

A) Misrepresentation.
B) Coercion.
C) Fraud.
D) Twisting.

3. Which of the following is not among the rights of the life insurance policyowner?

A) Borrow from the cash values.
B) Revoke an absolute assignment.
C) Assign or transfer the policy.
D) Select and change a beneficiary.

4. The policy feature that makes universal life different from whole life insurance policies is its

A) Flexible premium schedule.
B) Fixed face amount.
C) Settlement options.
D) Assignment options.

5. A life insurance policy most often becomes effective when the

A) Premium is collected and policy is issued.
B) Agent and individual agree on coverage.
C) Application is submitted.
D) Policy is actually issued.

Solutions: