Insurance Licensing New Jersey Life Producer : NJ-Life-Producer

  • Exam Code: NJ-Life-Producer
  • Exam Name: New Jersey Life Producer Exam
  • Updated: Sep 02, 2026     Q & A: 95 Questions and Answers

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        Question 1

                        Which of the following statements is correct about life insurance proceeds paid to a named beneficiary?

                        A. They are held until the insured's will is probated.
                        B. They are exempt from claims of the insured's creditors.
                        C. They must be paid in a lump sum.
                        D. They are subject to excise taxes.


                        Question 2

                        What is the purpose of the automatic premium loan rider?

                        A. Guarantees the insured the right to purchase additional insurance without evidence of insurability.
                        B. Protects the policyowner against an unintentional lapse of coverage.
                        C. Allows partial surrender of a term policy.
                        D. The insurer will pay the premium if the insured is permanently disabled.


                        Question 3

                        The policy feature that makes universal life different from whole life insurance policies is its

                        A. Settlement options.
                        B. Flexible premium schedule.
                        C. Assignment options.
                        D. Fixed face amount.


                        Question 4

                        A policyowner cannot change the beneficiary if he has named

                        A. A revocable beneficiary.
                        B. An irrevocable beneficiary.
                        C. A permanent beneficiary.
                        D. A spouse.


                        Question 5

                        In New Jersey, an insurance company formed in New Jersey with offices in New York is a

                        A. Mutual insurer.
                        B. Foreign insurer.
                        C. Alien insurer.
                        D. Domestic insurer.


                        Solutions:

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

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