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Last Updated: Aug 07, 2026
No. of Questions: 95 Questions & Answers with Testing Engine
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| Section | Objectives |
|---|---|
| Types of Policies | - Interest-Sensitive Life Products - Annuities - Term Life Insurance - Combination Plans and Variations - Traditional Whole Life Products |
| State Laws, Rules, and Regulations | - Marketing Practices - Producer Licensing Requirements - Ethics and Consumer Protection - New Jersey Insurance Regulations |
| Policy Riders, Provisions, Options, and Exclusions | - Policy Provisions and Options - Policy Exclusions - Policy Riders |
| Completing the Application, Underwriting, and Delivering the Policy | - Policy Delivery - Application Process - Underwriting |
| Retirement and Other Insurance Concepts | - Life Insurance Needs Analysis - Retirement Plans - Qualified Plans |
1. Which of the following policies allows for a partial surrender?
A) Term life.
B) Modified whole life.
C) Universal life.
D) Variable whole life.
2. Which of the following is most likely used for underwriting purposes and includes information on an applicant's character and personal habits?
A) Buyer's Guide.
B) Agent report.
C) Investigative consumer report.
D) Medical Information Bureau report.
3. Which of the following must an agent do when replacing a life insurance policy?
A) Obtain with the application the applicant's justification for why the replacement is suitable.
B) Submit to the replacing insurer a list of all life insurance policies or annuity contracts proposed to be replaced.
C) Forward the signed and completed Disclosure Statement to the replacing insurer and not provide the applicant with a copy.
D) Notify the insurer whose policy is being replaced, but not the insurer replacing the policy.
4. A producer assists an insured in converting a life policy to reduced paid-up insurance in order for the insured to buy a new policy. This action is best known as
A) Solicitation.
B) Rebating.
C) Twisting.
D) Replacement.
5. A contract between two insurance companies that allows one company to transfer risk to a second company is known as
A) Coinsurance.
B) Reinsurance.
C) Surplus lines insurance.
D) Excess insurance.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: B |
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