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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: Sep 01, 2026

Q&A Number: 95 Q&As

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        Question 1

                        What is the purpose of the Accelerated Death Benefit Rider?

                        A. To decrease the tax liability of the insured's estate.
                        B. To adjust the death benefit to keep up with inflation.
                        C. To provide for the early payment of the death benefit for a terminally ill insured.
                        D. To increase the death benefit by a stated percentage.


                        Question 2

                        Which of the following actions by a producer is considered an unfair method of competition?

                        A. Offering broader coverages than a competitor.
                        B. Overstating the benefits of an insurance policy.
                        C. Securing insurance for a client at a cheaper price than a competitor.
                        D. Using television to advertise.


                        Question 3

                        Generally, if an application is not prepaid, the effective date of coverage begins on the date the

                        A. Producer delivers the policy and collects a premium.
                        B. Application is postmarked and mailed to the insurer.
                        C. Company underwriter approves the risk.
                        D. Application is signed.


                        Question 4

                        Which of the following policies allows for a partial surrender?

                        A. Variable whole life.
                        B. Modified whole life.
                        C. Universal life.
                        D. Term life.


                        Question 5

                        Which of the following statements is correct about an applicant whose producer license has been denied?

                        A. The applicant is entitled to a hearing before a committee of the applicant's peers.
                        B. The applicant may reapply a maximum of three times.
                        C. The applicant may not reapply for one year.
                        D. The applicant is entitled to a hearing before the Office of Administrative Law.


                        Solutions:

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

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