Free Insurance Licensing NJ-Life-Producer Exam Dumps Questions & Answers

The principle that insurance is not a transaction of commerce and therefore should be regulated by the states was established by

• A.The McCarran-Ferguson Act.
• B.U.S. v. South-Eastern Underwriters Association.
• C.Public Act 15.
• D.Paul v. Virginia.

An insured has a $100,000 policy with an accidental death benefit rider. If he dies on his way to work due to a heart attack, what will the insurer pay?

• A.$200,000.
• B.$150,000.
• C.$250,000.
• D.$100,000.

A policyowner cannot change the beneficiary if he has named

• A.A spouse.
• B.A permanent beneficiary.
• C.A revocable beneficiary.
• D.An irrevocable beneficiary.

Which of the following policies allows for a partial surrender?

• A.Term life.
• B.Modified whole life.
• C.Universal life.
• D.Variable whole life.

Which of the following is a characteristic of conversion from group to permanent life insurance?

• A.Conversion must be applied for within 1 month of termination.
• B.Conversion must be to term insurance.
• C.Premium for the new policy will be based on the age when first covered by the group policy.
• D.Proof of insurability is required.