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

  • Exam Code: NJ-Life-Producer
  • Exam Name: New Jersey Life Producer Exam
  • Updated: Sep 04, 2026
  • Q & A: 95 Questions and Answers

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About Insurance Licensing NJ-Life-Producer Exam

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NJ-Life-Producer exam dumps

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        Question 1

                        A beneficiary is protected from creditors' claims in all of the following situations EXCEPT when the beneficiary is the

                        A. Insured's spouse.
                        B. Insured's business partner.
                        C. Insured's estate.
                        D. Insured's child.


                        Question 2

                        The applicant must face the possibility of losing something of value in the event of the insured's death. This principle is known as

                        A. Indemnification.
                        B. Viatical settlement.
                        C. Adverse selection.
                        D. Insurable interest.


                        Question 3

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

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


                        Question 4

                        An insurance company, owned by its stockholders who have contributed to its capital and surplus and to whom dividends are paid, is known as

                        A. A reciprocal company.
                        B. A stock company.
                        C. A mutual company.
                        D. An assessable company.


                        Question 5

                        An owner of a life insurance policy may transfer ownership temporarily with

                        A. An absolute assignment.
                        B. A transfer assignment.
                        C. A collateral assignment.
                        D. A beneficiary assignment.


                        Solutions:

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

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