insurance
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| show | Social Security
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| show | medical and hospitalization expenses
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| An insured has a stop-loss limit of $5,000 and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured pay? | show 🗑
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| show | Medicare supplement Plan F
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| show | have premiums have averaged over the policy period
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| show | Coverage is eliminated
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| the treasurer of xyz insurance company discovers that the treasurer company is being investigated by the banking and insurance commissioner | show 🗑
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| show | the mec tends to be an investment vehicle
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| An insurance broker is someone who represents which of the following? | show 🗑
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| The state of new jersey requires completion of a total of how many continuing education credits upon renewal of a producer's license | show 🗑
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| how often must an insurance producers license in new jersey be renewed | show 🗑
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| A life insurance policy written on one contract for two people in which it is payable upon the first death is called | show 🗑
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| Which of the following are retained at the expense of an insurance buyer to give advice on insurance needed by the buyer? | show 🗑
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| An agent has committed an insurance crime that violates US Code 1033 (interstate commerce). Who would be responsible for the prosecution of this crime? | show 🗑
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| Upon policy delivery, which of the following must a producer have an applicant sign if no initial premium was collected with the life insurance application? | show 🗑
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| show | to help underwriters evaluate risk
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| what is the primary reason for buying an annuity | show 🗑
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| show | Accumulation period
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| If the annuitant dies before the annuity start date | show 🗑
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| An example of a tax qualified retirement plan would be an | show 🗑
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| show | upon distribution
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| show | establish continuing education requirements
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| Replacement regulation is designed to protect | show 🗑
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| show | 12
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| show | misrepresenting insurance policy provisions affecting a loss
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| what content is approved by the insurance commissioner or contains content approved by the commissioner | show 🗑
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| show | 5 years
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| The new jersey life and health insurance guaranty association is | show 🗑
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| An insurance consultant is best defined as | show 🗑
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| The guaranty association act provides that when a court order of liquidation exists, the insurer | show 🗑
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| A document providing basic information about life insurance policies, in general, is called a | show 🗑
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| Which of the following are retained at the expense of an insurance buyer to give on insurance needed by the buyer | show 🗑
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| show | 5 years
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| The new jersey life and health insurance guaranty association is | show 🗑
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| show | a producer who charges fees for advice
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| show | is insolvent.
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| Which of the following are retained at the expense of an insurance buyer to give on insurance needed by the buyer | show 🗑
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| An insurance broker is someone who represents which of the following | show 🗑
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| show | completing a CLU designing course
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| During the solicitation of a life policy, when must an insurer furnish a prospective buyer with a buyer's guide and a policy summary | show 🗑
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| An agent is an | show 🗑
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| An ______ insurance company is one that was formed under the laws of a state other than New jersey | show 🗑
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| show | hold a comparable license in another state
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| show | the office must be open 9-5 5 days a week.
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| Advertising regulations exist in order to | show 🗑
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| Twisting is | show 🗑
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| Which of the following is an example of defamation | show 🗑
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| She may reinstate her policy within | show 🗑
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| Who would make the final determination on whether or not an insurance advertisement is misleading | show 🗑
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| show | be greater than the amount of debt
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| Someone who sells solicits or negotiates insurance contracts for compensation on behalf of an insurer is called | show 🗑
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| show | ensure that claims filed against insolvent insurance companies will be paid
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| show | individuals license by the state
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| show | 30 days in writing
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| show | certified insurance counselor.
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| show | no loss no gain
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| show | three years after the doc is used.
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| which of the following is not a duty of the commissioner | show 🗑
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| an example of an unfair method of competition is | show 🗑
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| show | there is a protection of proceeds against the insured and the beneficiary's creditors
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| show | engaging primarily in controlled business sales
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| show | Pay age-corrected benefits
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| What will the beneficiary receive if an annuitant dies during the accumulation period | show 🗑
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| In the advertising of individual life and insurance policies | show 🗑
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| Which policy feature makes a universal life policy different from a whole life policy? | show 🗑
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| In which of the following relationships would there NOT be an insurable interest? | show 🗑
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| All of these statements concerning whole life insurance are false EXCEPT | show 🗑
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| show | 5 years
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| show | advertisements must include training materials provided to the producer.
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| show | period of time after the premium is due but the policy remains in force.
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| The commissioner must approve | show 🗑
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| The principle of insurable interest, in regards to a life insurance contract, is accurately described in which statement | show 🗑
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| Which of the following are the premium payments for a universal life policy not used for? | show 🗑
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| show | there is protections of proceeds against the insured creditors
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| show | a producer who shares commissions with a client
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| show | Human life value
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| a life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situation expect | show 🗑
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| show | nothing
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| which of the following actions is required by an agent who is replacing an existing life insurance policy? | show 🗑
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| show | interest only
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| show | contingent beneficiary
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| how many months can a life insurance policy normally be backdated from the date of application? | show 🗑
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| show | Age
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| An interest-sensitive life insurance policyowner may be able to withdraw the policy's cash value interest free. The provision that allows this is called | show 🗑
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| which type of life insurance is normally associated with a payor benefit rider? | show 🗑
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| The department of banking and insurance can make information pertaining to a producer license available through | show 🗑
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| What is the purpose for having an accelerated death benefit on a life insurance policy | show 🗑
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| The fair credit and reporting act main purpose is to | show 🗑
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| What is the automatic continuance of insurance coverage referred to as? | show 🗑
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| show | provide evidence of insurability to the insurer
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| show | when initial premium is collected and policy is issued
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| A branch office registration form is required to be filed at least _______ days before selling insurance of that branch | show 🗑
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| show | nonforfeiture provision
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| show | level premiums
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| show | annuities are intended to create an estate
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| show | provide funds to help pay taxes
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| Which type of life insurance offers flexible premiums, a flexible death benefit, and the choice of how the cash value will be invested? | show 🗑
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| which of these is not subject to income taxation under a modified endowment contract (MEC)? | show 🗑
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| show | refund annuity
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| Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called | show 🗑
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| Joe has a life insurance policy that has a face amount of $300,000. After a number of years, the policy's cash value accumulates to $50,000 and the face amount becomes $350,000. What kind of policy is this? | show 🗑
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| ABC insurance company transfers part of their risk to XYZ insurance company. The situation is called | show 🗑
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| show | pre-death distributions are typically taxable
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| show | equity index whole life
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| an insurance company needs to obtain personal information from a third party concerning an applicant which law do all insurers and their producers need to comply with? | show 🗑
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| which of the following is not part of an insurance contract? | show 🗑
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| An annuity is primarily used to provide? | show 🗑
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| show | extended term
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| carmen individual life insurance policy has recent lapsed. she may reinstate her policy within ____ year(s) | show 🗑
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| which of the following designations is regulated by the department of banking and insurance | show 🗑
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| show | certificate of coverage and benefits
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| show | avocation (hobby)
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| An annuitant is guaranteed to NOT outlive their benefits with a(n) | show 🗑
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| When new Life Insurance is to be purchased, the solicitation will be considered a replacement transaction if, in conjunction with the sale, existing Life Insurance will be subject to borrowing for amounts exceeding which of the following? | show 🗑
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| Converting a group plan to permanent life insurance requires | show 🗑
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| show | a flexible premium schedule
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| A buyer's Guide and policy summary | show 🗑
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| which of the following protects a policyowner from a misrepresentation caused by an innocent mistake? | show 🗑
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| show | individual plan upon employment termination
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| the license shall advise the department of banking and insurance of the closing of a branch office within how many days? | show 🗑
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| when replacement of individual life insurance is involved, an agent must furnish a notice regarding replacement of life insurance to which of the following? | show 🗑
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| the commissioner of insurance may take which of the following actions when a producer has engaged in an unfair trade practice? | show 🗑
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| which of the following would disqualify company's retirement plan from receiving favorable tax treatment? | show 🗑
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| the suicide clause of a life insurance policy states that if an insured commits suicide within a stated period from the policy's inception, the insurer will only be liable for a return of premiums paid | show 🗑
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| show | be greater than the amount of debt
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| a life insurance policy that is subject to a contact interest rate is referred to as | show 🗑
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| show | it provides a source of income for a meaningful standard of living during retirement
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| How soon can the benefit payments begin with a deferred annuity? | show 🗑
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| Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? | show 🗑
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| show | an economic interest exists for the continuance of the insured's life
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| show | collateral assignment
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| which of the following sells reinsurance? | show 🗑
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| Which of these ensures that proceeds of a life insurance policy will be free from attachment or seizure by the beneficiary's creditors? | show 🗑
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| An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if | show 🗑
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| show | payor benefit
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| show | inscreases
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| show | term
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| Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. when the term insurance expires | show 🗑
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| show | policy has a decreased face amount
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| show | investigative consumer report
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| Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? | show 🗑
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| show | provide evidence of insurability, pay past due premiums
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| a renewable term life insurance policy allows the policyowner the right to renew the policy | show 🗑
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| show | reduced death benefit prepayment
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| show | individual
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| an insurance producer is often responsible for field underwriting during the application process. all of these are possible field underwriting roles expect | show 🗑
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| what is involved when a life insurance policy has been backdated? | show 🗑
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| a guaranteed issue insurance policy has no | show 🗑
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| fraternal benefits society has each of the following characteristics except | show 🗑
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| what is the purpose for having an accelerated death benefit on a life insurance policy | show 🗑
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| Donald is the primary insured of a life insurance policy and adds a children's term rider. what is the advantage of adding this rider? | show 🗑
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| which of these statements concerning traditional IRAs is correct? | show 🗑
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| show | participating life insurance policy
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| Level premium permanent insurance accumulates a reserve that will eventually | show 🗑
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| show | fixed surrender value
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| what happens when an insurance policy is backdate? | show 🗑
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| show | at a predetermined date or age
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| show | individual underwriting
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| Naming a contingent beneficiary as "all surviving children" is described by which term? | show 🗑
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| show | Foreign
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| show | will no longer provide insurance protection
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| show | Bi-weekly
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| show | lifetime protection
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| an applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of | show 🗑
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| Which of these annuities require premium payments that vary from year to year? | show 🗑
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| the statement which best describes the relationship between the premiums of a whole life policy and the premium payment period is | show 🗑
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| show | association or labor group
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| show | joint
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| show | no federal income tax is owed on a life insurance proceeds
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| which of the following is considered to be an alternative to a life settlement? | show 🗑
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| show | A local electrical supply company with 12 employees
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| show | commissioner may impose an administrative penalty
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| which of the following must contain a statement of policy cost and benefit information? | show 🗑
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| show | insurable interest can be established sufficiently by sentimental attachment alone.
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| Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. She would like to borrow $15,000 against the cash value. Which of the following statements is true? | show 🗑
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| show | cost
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| Statements made by an insurance applicant on an application are considered to be | show 🗑
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| who assumes the investment risk with a fixed annuity contract? | show 🗑
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| Applicants for surplus lines authority must fulfill all of the following requirements except? | show 🗑
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| When the insured selects the extended term nonforfeiture option, the cash value will be used to purchase term insurance with what face amount? | show 🗑
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Created by:
adelinas18