Pass your actual test with our Insurance Licensing NJ-Life-Producer training material at first attempt
Updated: Jun 04, 2026
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1. The policy feature that makes universal life different from whole life insurance policies is its
A) Fixed face amount.
B) Flexible premium schedule.
C) Assignment options.
D) Settlement options.
2. The proposed insured's statements on a life insurance application are considered to be
A) Misrepresentations.
B) Absolute statements.
C) Warranties.
D) Representations.
3. Which of the following represents a reduced paid-up nonforfeiture option?
A) The new protection is for the same amount as the original policy.
B) The new policy will have a decreased face amount.
C) A full share of expense loading must be included in the premium on the reduced coverage.
D) Further premiums must be paid on the reduced policy.
4. To renew an insurance producer license, a renewal applicant must earn 24 continuing education credits during the previous two years EXCEPT:
A) Resident producers.
B) Insurance consultants.
C) Insurance brokers.
D) Nonresident producers.
5. A common purpose for purchasing a fixed annuity is to
A) Allow for flexibility in terms of investment opportunities.
B) Provide benefits to a next of kin if the annuity holder dies.
C) Provide future economic security, as payments do not fluctuate.
D) Make tax-free investments.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: C |
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