Insurance Licensing NJ-Life-Producer real exam prep : New Jersey Life Producer Exam

  • Exam Code: NJ-Life-Producer
  • Exam Name: New Jersey Life Producer Exam
  • Updated: Aug 05, 2026
  • Q&As: 95 Questions and Answers

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        1. Why would a policyowner purchase a term rider for their existing policy?

                        A) To reduce the premium payment period.
                        B) To add additional death benefits.
                        C) To guarantee the premium amount throughout the life of the policy.
                        D) To provide protection in case the insurer refused to pay the benefits of the policy.


                        2. Printing derogatory statements about an insurance company's financial condition is known as

                        A) Alienation.
                        B) Misrepresentation.
                        C) Defamation.
                        D) Not provided in the source question.


                        3. A reinstatement clause outlines reinstatement conditions that include

                        A) Payment of outstanding loans within the year.
                        B) A decrease in policy limits.
                        C) A higher premium charge.
                        D) Proof of insurability.


                        4. A group life contract that lapses because of nonpayment of premium will continue to cover losses incurred by the insured for

                        A) A maximum of 45 days after the last premium is paid.
                        B) A maximum of 30 days after the grace period expires.
                        C) The duration of the grace period.
                        D) A maximum of 30 days after the last premium is paid.


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

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


                        Solutions:

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

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