The free look period for an annuity purchased from a local agent is at least

For a New Jersey annuity purchased through a local agent, the free look period is at least 10 days from delivery, and the exam answer expresses the standard range as 10 days and not more than 30 days. New Jersey Department of Banking and Insurance consumer guidance states that annuity consumers have a 10-day free look period, allowing the buyer to return the contract and receive a refund of all premiums paid for any reason. The free look requirement is explained in the Buyer’s Guide and disclosure statement. Option A is therefore the only answer that starts with the correct minimum. The longer timeframes in options B, C, and D do not match the standard New Jersey annuity free look rule being tested. Be careful not to confuse this with special replacement or senior-market rules that may provide different periods in other contexts. Here the phrase “purchased from a local agent” points to the ordinary annuity free look period. Reference topics: Annuity Disclosure, Free Look Period, Buyer’s Guide, New Jersey Annuity Consumer Rights.