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

NJ-Life-Producer real exams

Exam Code: NJ-Life-Producer

Exam Name: New Jersey Life Producer Exam

Updated: Sep 12, 2026

Q & A: 95 Questions and Answers

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        Question #1

                        Which of the following statements is correct about penalties imposed by the New Jersey Banking and Insurance Commissioner for violations of insurance regulations?

                        • A. The Commissioner must provide written notice and an opportunity for a hearing before imposing a penalty.
                        • B. Only a court of law can impose penalties.
                        • C. The Commissioner may impose penalties on producers but not on insurance companies.
                        • D. The Commissioner may not impose further penalties on a producer who already has been penalized by a criminal court.
                        Answer: A

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                        Question #2

                        A producer who is authorized by an insurance company to solicit, negotiate, or sell insurance contracts is acting as

                        • A. An insurance broker.
                        • B. A financial consultant.
                        • C. An insurance consultant.
                        • D. An insurance agent.
                        Answer: D
                        Question #3

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

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

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                        Question #4

                        An insurance producer sends an invitation for a seminar on college funding. According to New Jersey law, what must be contained in the mailer if the producer intends to solicit insurance at the seminar?

                        • A. The address of the producer.
                        • B. The producer's name as it appears on the license.
                        • C. A personal biography.
                        • D. The producer's license number.
                        Answer: B

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                        Question #5

                        Which of the following is not among the rights of the life insurance policyowner?

                        • A. Revoke an absolute assignment.
                        • B. Borrow from the cash values.
                        • C. Select and change a beneficiary.
                        • D. Assign or transfer the policy.
                        Answer: A

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