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

NJ-Life-Producer

Exam Code: NJ-Life-Producer

Exam Name: New Jersey Life Producer Exam

Updated: Aug 18, 2026

Q&A Number: 95 Q&As

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About Insurance Licensing NJ-Life-Producer Exam Questions and Answers

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

SectionObjectives
State Laws, Rules, and Regulations- Producer Licensing Requirements
- Ethics and Consumer Protection
- New Jersey Insurance Regulations
- Marketing Practices
Completing the Application, Underwriting, and Delivering the Policy- Application Process
- Policy Delivery
- Underwriting
Retirement and Other Insurance Concepts- Life Insurance Needs Analysis
- Retirement Plans
- Qualified Plans
Policy Riders, Provisions, Options, and Exclusions- Policy Provisions and Options
- Policy Exclusions
- Policy Riders
Types of Policies- Interest-Sensitive Life Products
- Term Life Insurance
- Traditional Whole Life Products
- Annuities
- Combination Plans and Variations

Insurance Licensing New Jersey Life Producer Sample Questions:

1. Which of the following retirement plans is not restricted to contribution limits set by the IRS?

A) 401(k).
B) Individual Retirement Plan.
C) Individual annuity.
D) Roth IRA.


2. Which of the following statements is true regarding a Waiver of Premium Rider?

A) There will be no change in the policy's rates, benefits, or options other than that the insured no longer has to pay the premiums on the policy.
B) The death benefit will be reduced by the amount of the unpaid premiums.
C) The insured will automatically become eligible for Accelerated Death Benefits.
D) The policy's cash value will continue to grow, but at a slower rate because the insured is no longer paying premiums.


3. Which of the following must an agent do when replacing a life insurance policy?

A) Submit to the replacing insurer a list of all life insurance policies or annuity contracts proposed to be replaced.
B) Obtain with the application the applicant's justification for why the replacement is suitable.
C) Forward the signed and completed Disclosure Statement to the replacing insurer and not provide the applicant with a copy.
D) Notify the insurer whose policy is being replaced, but not the insurer replacing the policy.


4. Insurance purchased on the life of a borrower to provide indemnity for a loan balance if the borrower dies is referred to as

A) Credit life insurance.
B) Liability indemnity insurance.
C) Bank insurance.
D) Ticket life insurance.


5. What does the Fair Credit Reporting Act give the consumer the right to do?

A) Deny the insurer access to their credit report.
B) Decide which credit agency the insurer can pull their information from.
C) Question the validity and source of any credit information collected and retained by the insurer.
D) Request a copy of their credit report and an explanation of it from their agent.


Solutions:

Question # 1
Answer: C
Question # 2
Answer: A
Question # 3
Answer: A
Question # 4
Answer: A
Question # 5
Answer: C

Related Certifications
Life, Accident, and Health
Insurance Licensing Certification
New Jersey Insurance Licencing (NJDOBI)
Pennsylvania Insurance Licencing (PAIN)
Nevada Insurance
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