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NJ LIFE PRODUCER EXAM, PRACTICE EXAM AND
STUDYGUIDE NEWEST 2025 COMPLETE 500
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Nina just passed her New Jersey insurance licensing examination. She is REQUIRED to apply for a producer's license within ___ months. - CORRECT ANSWER -12
Which of the following statements is TRUE about Medicaid? - CORRECT ANSWER -It is funded by federal, state, and local taxes
Under group health insurance, a certificate of coverage is issued to the - CORRECT ANSWER -employee.
When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? - CORRECT ANSWER -Change of occupation provision
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Claims payable to a Disability Income insured, even when the insured can continue to work, are the result of a - CORRECT ANSWER-presumtive disability
Which of the following is MANDATORY coverage for all group health care service contracts? - CORRECT ANSWER -treatment for alcoholism
What amount will be paid under a policy where the insured misstated his/her age? - CORRECT ANSWER -An amount the premium would have purchased at the correct age
Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Which military service exclusion would pay upon his death? - CORRECT ANSWER -results
Employer-sponsored group health insurance provides coverage for which of the following? - CORRECT ANSWER -alcoholism
Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. This change is called a(n) - CORRECT ANSWER -conversion 2 / 4
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The names of the insurance companies represented by the producer - CORRECT ANSWER -is available to the public
If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? - CORRECT ANSWER -refunded to the debtor
Maria the agent would life to advertise an annuity product on a highway billboard. Which of the following must be included in the advertisement? - CORRECT ANSWER -her name
Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. - CORRECT
ANSWER-20
The Commissioner issues a subpoena to a producer. The producer decides not to respond. Which course of action must be taken by the Commissioner? - CORRECT ANSWER - Commissioner may impose an administrative penalty
The waiting period for a disability insurance policy - CORRECT ANSWER-excludes payments fro a short-time illness or injury. 3 / 4
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Tyler purchased a disability policy with a waiver of premium rider on April 1. He is disabled on May 1. On June 1, he receives proof of permanent and total disability, and submits a claim. He begins receiving benefits on June 15. When are his premiums waived? - CORRECT ANSWER -June 1
The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value amount of - CORRECT ANSWER-past due premiums that have not been paid by the end of the grace period.
Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. She would life to borrow $15,000 against the cash value. Which of the following statements is TRUE? - CORRECT ANSWER -Net death benefit will be reduces if the loan is not repaid.
Which of the following protects a Policyowner from a misrepresentation caused by an innocent mistake? - CORRECT ANSWER-incontestable clause
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