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Insurance purchased on the life of a borrower to provide indemnity for a loan balance if the borrower dies is referred to as

• Life Insurance

• Credit Life Insurance

• Car Insurance

• Insurance

• Credit Fraud

Which of the following acts states that federal government laws and regulations apply to the insurance industry when the industry is not regulated by state laws?

• Furgeson Act

• Treason

• NcCarran-Ferguson Act

• Insurance Act

• Free Act

Which of the following statements is TRUE about premium refunds resulting from the cancellation of a Credit Life.

A producer acting as an agent may take all of the following except...

• Jail

• Credit

• Palace insurance with a company the producer does not represent

• could cause fraud

• word war 3

For a New Jersey Insurance Producer to change a prospective insured for analyzing insurance coverages, there must be a reasonable recommendation.

• Nature of the services performed

• Calling for coverage

• receive a claim

• max your credit card

Which of the following is MOST likely used for underwriting purposes that includes information on an applicant's character and personal habits?

• Temu

• Customer Report

• Investigate Consumer Report

• Consumer Insurance Report

If the age of an insured under a life insurance policy misstated, which of the following is CORRECT concerning the death benefit?

• The amount paid is the amount saved

• The amount that will be paid, will be covered by insurance

• The amount paid will be what the premium would have purchased at the correct age

• the amount paid will be issued to your insurance provider

What is the purpose of the automatic premium loan Rider?

• Protection from fraud

• protection from the IRS

• Protection from potential scammers

• protects the policy owner against an unintentional lapse of coverage

An Insured has a policy with a stated cash value of $1,500 and the insured still owes $500 on a previous lan from the cash value. How much money will the insurer give the insured on the cash surrender value option?

When is the Immediate annuity is designed to make its first benefit payment to the annuitant typically?