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Insurance Licensing New Jersey Life Producer Sample Questions:
1. Under a multiple protection policy, the policy that pays on the death of the last person is called
A) A survivorship life policy.
B) A universal life policy.
C) An annuity life policy.
D) A joint life policy.
2. Which of the following is not among the rights of the life insurance policyowner?
A) Select and change a beneficiary.
B) Assign or transfer the policy.
C) Revoke an absolute assignment.
D) Borrow from the cash values.
3. 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) Twisting.
B) Misrepresentation.
C) Coercion.
D) Fraud.
4. The purpose of advertising regulations is to
A) Assure that spokespersons are properly compensated.
B) Assure full and truthful disclosure to the public.
C) Ensure that the prospect has all the required information to make an informed decision.
D) Ensure that the insurance company is supervising its agents properly.
5. An individual must be a licensed producer in order to take which of the following actions?
A) Accept premiums from insureds at a recorded place of business.
B) Compile the names and addresses of prospective insureds for marketing purposes.
C) Discuss the effects of age or health on premiums with a prospective insured.
D) Type binders or certificates.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: C |
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