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1. A beneficiary is protected from creditors' claims in all of the following situations EXCEPT when the beneficiary is the
A) Insured's estate.
B) Insured's spouse.
C) Insured's child.
D) Insured's business partner.
2. Insurance advertising in local newspapers is regulated by the
A) Attorney general.
B) Marketing department of the insurance company.
C) Federal Communications Commission.
D) New Jersey Department of Banking and Insurance.
3. Under a multiple protection policy, the policy that pays on the death of the last person is called
A) A universal life policy.
B) A survivorship life policy.
C) A joint life policy.
D) An annuity life policy.
4. A policy may contain provisions excluding or restricting coverage as specified in the event of death under all of the following EXCEPT
A) Fare-paying passenger.
B) Not provided in the source question.
C) War, or act of war.
D) A licensed pilot of a personal aircraft.
5. Which of the following retirement plans is not restricted to contribution limits set by the IRS?
A) Roth IRA.
B) Individual annuity.
C) 401(k).
D) Individual Retirement Plan.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: B |
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