Study guides, Class notes & Summaries

The McCarran-Ferguson Act was passed by Congress to - Answer Redefine the authority of the state and federal government to regulate the insurance industry The principle that insurance is not a transaction of commerce and so should be regulated by the state was established in: - Answer Paul v. Virginia In New Jersey, a producer who violates a New Jersey insurance law for the first time may be fined up to - Answer $5,000 The New Jersey Banking and Insurance Commissioner has the a...

Under a Traditional IRA, interest earned is taxed - Answer upon distribution Which of these statements regarding the annuitants is CORRECT? - Answer The annuitant's life expectancy determines the annuity payment What will the beneficiary receive is annuitant dies during the accumulation period? - Answer The greater the accumulated cash value or the total premium paid Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? - Answe...

Which of the following amounts must decrease in a decreasing term? - Answer Death benefit In life insurance, insurable interest must exist at the time the.. - Answer Producer writes an on a proposed insured An applicant makes an offer to the insurer when they - Answer pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insurance? - Answer Premium Schedule An insurer that shares its profits w...

Renewable Term Life Insurance - Answer An insurer must renew a renewable term policy at the policyowner's request regardless of the insurability status of the insured. Fixed-amount - Answer The settlement option that provides for payments to be made in regular installments to a beneficiary until the principal and interest are exhausted best describes: Must give public reasonable access. - Answer What hours of operation is a branch office required to have? Amount of indeptness - A...

The Waiver of Cost of Insurance rider is found in what type of insurance? - Answer Universal Life If an insured continually uses the automatic premium loan option to pay the policy premium, - Answer The policy will terminate when the cash value is reduced to nothing If a settlement option is not chosen by the beneficiary or policyowner, which option will be used? - Answer Lump sum An insured misstates her age at the time the life insurance application is taken. This misstatement m...

What kind of retirement plan can a 75-employee for profit corporation establish? - Answer Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - Answer Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - Answer failure to pay all claims that are reported within 90 days after a loss occurs The settlement option that al...

Replacement regulation is designed to protect - Answer Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Answer Preventative health services Which of these will have the highest monthly payout upon annuitization - Answer Straight life Which of the following is included in the entire contract according ti the entire contract provison? - Answer Clauses Which of the following is considered to be an altern...

NJ Life Producer Exam Study Life Insurance Solutions Update 2024.NJ Life Producer Exam Study Life Insurance Solutions Update 2024.NJ Life Producer Exam Study Life Insurance Solutions Update 2024.

New Jersey Life Insurance Exam 49 Questions with Verified Solutions.New Jersey Life Insurance Exam 49 Questions with Verified Solutions.

JURISPRUDENCE EXAM 380 LATEST QUESTIONS WITH VERIFIED ANSWERSJURISPRUDENCE EXAM 380 LATEST QUESTIONS WITH VERIFIED ANSWERS