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Insurance Licensing NJ-Life-Producer

NJ-Life-Producer

Exam Code: NJ-Life-Producer

Exam Name: New Jersey Life Producer Exam

Updated: Aug 01, 2026

Q & A: 95 Questions and Answers

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Life Insurance Fundamentals- Types of life insurance policies
  • 1. Whole life insurance
    • 2. Universal life insurance
      • 3. Term life insurance
        - Policy provisions and clauses
        • 1. Incontestability clause
          • 2. Grace period
            Topic 2: State Regulations (New Jersey)- Insurance laws and ethics
            • 1. Producer licensing requirements
              • 2. Unfair trade practices
                Topic 3: Underwriting and Policy Issuance- Risk classification
                • 1. Medical underwriting factors
                  • 2. Moral hazard and adverse selection
                    Topic 4: Life Insurance and Annuities- Annuity basics
                    • 1. Variable annuities
                      • 2. Fixed annuities

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        1. An insurance producer sends an invitation for a seminar on college funding. According to New Jersey law, what must be contained in the mailer if the producer intends to solicit insurance at the seminar?

                        A) The address of the producer.
                        B) The producer's license number.
                        C) A personal biography.
                        D) The producer's name as it appears on the license.


                        2. An insurance company that terminates a producer's agency contract is required to file a written notice of the termination with the Banking and Insurance Department at which of the following times?

                        A) A maximum of 15 days after the termination date.
                        B) A maximum of 30 days after the termination date.
                        C) Immediately.
                        D) A maximum of 7 days after the termination date.


                        3. Which rider would allow additional insurance at specified dates or events, without evidence of insurability?

                        A) Cost of living.
                        B) Guaranteed insurability.
                        C) Disability income.
                        D) Return of premium.


                        4. The New Jersey Banking and Insurance Commissioner has the authority to take all of the following actions EXCEPT

                        A) Amend insurance rules and regulations.
                        B) Establish insurance rate schedules.
                        C) Enforce insurance rules and regulations.
                        D) Create regulations to achieve the purposes of insurance laws.


                        5. Sam had a $100,000 five-year, nonrenewable level term life insurance policy with his wife as the beneficiary.
                        Sam dies eight years after the inception date of the policy. How much will be paid to Sam's wife?

                        A) $40,000.
                        B) Nothing.
                        C) $60,000.
                        D) $100,000.


                        Solutions:

                        Question # 1
                        Answer: D
                        Question # 2
                        Answer: A
                        Question # 3
                        Answer: B
                        Question # 4
                        Answer: B
                        Question # 5
                        Answer: B

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