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  2. New Jersey
  3. Life, Accident & Health
  4. Life Policy Provisions Options and Riders

Free Life Policy Provisions Options and Riders Practice Questions

New Jersey Life, Accident & Health exam — 49 practice questions.

Subtopics: Ownership, Contingent beneficiary, Irrevocable beneficiary, Spendthrift clause, Common disaster, Automatic premium loan, Guaranteed insurability, Dividends, Assignment, Standard provisions, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, Dividend options, Riders, Grace period, Reinstatement, Incontestable clause, Suicide clause, Misstatement of age, Primary beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. The person who holds the rights in a life insurance policy is the:

Policyowner

The policyowner holds policy rights such as naming beneficiaries and taking loans.

2. A contingent beneficiary receives the death benefit when:

The primary beneficiary has predeceased the insured

The contingent beneficiary takes the proceeds only if no primary beneficiary survives the insured.

3. An irrevocable beneficiary designation:

Cannot be changed without the beneficiary's consent

An irrevocable beneficiary's rights cannot be changed without that beneficiary's consent.

4. A spendthrift clause in a life settlement option protects proceeds by:

Limiting a beneficiary's ability to assign or creditors to reach proceeds

A spendthrift clause shields installment proceeds from a beneficiary's creditors and assignment.

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Practice: Life Policy Provisions Options and Riders

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.