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  • Total Questions: 95
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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

SectionWeightObjectives
New Jersey Insurance Laws, Rules & Regulations20-25%- State Regulatory Framework & Jurisdiction
- Policy Replacement & Disclosure Rules
- Trade Practices & Unfair Trade Laws
- Ethics, Fiduciary Duty & Consumer Protection
- Licensing Requirements & Procedures
Types of Life Insurance Policies20-25%- Annuities & Retirement Products
- Interest-Sensitive & Universal Life Products
- Combination Plans & Policy Variations
- Term Life Insurance
- Traditional Whole Life Products
Policy Riders, Provisions, Options & Exclusions20-25%- Beneficiary Designations & Settlement Options
- Common Policy Riders
- Policy Exclusions & Limitations
- Required & Optional Policy Provisions
Taxes, Retirement & Advanced Concepts15-20%- Social Security & Government Benefits
- Group Life Insurance
- Business Insurance & Third-Party Ownership
- Retirement Plans & Tax Treatment
Application, Underwriting & Policy Delivery10-15%- Do Not Call & Privacy Regulations
- Underwriting Process & Risk Classification
- Completing the Application & Disclosure Requirements
- Policy Delivery & Legal Responsibilities

Insurance Licensing New Jersey Life Producer Sample Questions:

A type of life insurance policy that provides for payment of the face amount at the end of the specified period if the insured is still alive is

  • A. An endowment policy.
  • B. A universal life insurance policy.
  • C. A juvenile trust.
  • D. A modified life insurance policy.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Lapsed individual life insurance may be reinstated at any time within

  • A. 2 years.
  • B. 3 years.
  • C. 5 years.
  • D. 4 years.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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To renew an insurance producer license, a renewal applicant must earn 24 continuing education credits during the previous two years EXCEPT:

  • A. Insurance brokers.
  • B. Insurance consultants.
  • C. Nonresident producers.
  • D. Resident producers.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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A licensed life or health producer who solicits insurance in New Jersey, has not selected New Jersey as his home state, and resides and maintains the principal office in another state is defined as

  • A. A reciprocal producer.
  • B. A foreign producer.
  • C. A nonresident producer.
  • D. An alien producer.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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

  • A. Assignment options.
  • B. Flexible premium schedule.
  • C. Settlement options.
  • D. Fixed face amount.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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