Study and Prepare with Insurance Licensing NJ-Life-Producer study material, That's Easy to pass With PracticeMaterial!
Last Updated: Aug 18, 2026
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| Section | Objectives |
|---|---|
| Topic 1: Underwriting and Policy Issuance | - Risk classification
|
| Topic 2: Life Insurance Fundamentals | - Policy provisions and clauses
|
| Topic 3: Life Insurance and Annuities | - Annuity basics
|
| Topic 4: State Regulations (New Jersey) | - Insurance laws and ethics
|
1. Which of the following is true concerning the use of HIV-related tests in life insurance underwriting?
A) They are not permitted.
B) Insurers must obtain the proposed insured's written informed consent prior to testing.
C) Insurers do not need to obtain the proposed insured's informed consent prior to testing.
D) Insurers need only obtain the proposed insured's verbal informed consent prior to testing.
2. An owner of a life insurance policy may transfer ownership temporarily with
A) An absolute assignment.
B) A transfer assignment.
C) A collateral assignment.
D) A beneficiary assignment.
3. A policy may contain provisions excluding or restricting coverage as specified in the event of death under all of the following EXCEPT
A) War, or act of war.
B) A licensed pilot of a personal aircraft.
C) Fare-paying passenger.
D) Not provided in the source question.
4. Which type of insurance policy is characterized by premiums that are fully paid up within a stated period, after which no further premiums are required?
A) Limited payment life insurance.
B) Basic installment insurance.
C) Lump sum insurance.
D) Prepaid premium insurance.
5. Generally, the maximum percentage of the face amount paid under an Accelerated Death Benefit would be
A) 100%.
B) 50%.
C) 200%.
D) 10%.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: B |
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