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

  • Exam Code: NJ-Life-Producer
  • Exam Name: New Jersey Life Producer Exam
  • Updated: Sep 10, 2026
  • Q & A: 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. Term life insurance
    • 2. Universal life insurance
      • 3. Whole life insurance
        - Policy provisions and clauses
        • 1. Grace period
          • 2. Incontestability clause
            Life Insurance and Annuities- Annuity basics
            • 1. Fixed annuities
              • 2. Variable annuities
                Underwriting and Policy Issuance- Risk classification
                • 1. Moral hazard and adverse selection
                  • 2. Medical underwriting factors
                    State Regulations (New Jersey)- Insurance laws and ethics
                    • 1. Unfair trade practices
                      • 2. Producer licensing requirements

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        Question #1

                        Sam had a $100,000 five-year, nonrenewable level term life insurance policy with his wife as the beneficiary.
                        Sam dies eight years after the inception date of the policy. How much will be paid to Sam's wife?

                        • A. Nothing.
                        • B. $60,000.
                        • C. $40,000.
                        • D. $100,000.
                        Answer: A

                        Explanation: Only visible for ValidVCE members. You can sign-up / login (it's free).

                        Question #2

                        If a producer makes a sales proposal or presentation that fails to fairly and fully disclose future premium charges, benefits, and any options included in the policy, the producer may be found guilty of

                        • A. Twisting.
                        • B. Coercion.
                        • C. Fraud.
                        • D. Misrepresentation.
                        Answer: D

                        Explanation: Only visible for ValidVCE members. You can sign-up / login (it's free).

                        Question #3

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

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

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                        Question #4

                        Under New Jersey replacement regulations, it is the duty of the replacing insurance company to take all of the following actions EXCEPT

                        • A. Require a list of all policies that will be replaced.
                        • B. Postpone underwriting until the existing insurer is notified.
                        • C. Require its producers to comply with the regulations.
                        • D. Retain a copy of the completed replacement Disclosure Statement.
                        Answer: B

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                        Question #5

                        What is the purpose of the Accelerated Death Benefit Rider?

                        • A. To increase the death benefit by a stated percentage.
                        • B. To provide for the early payment of the death benefit for a terminally ill insured.
                        • C. To decrease the tax liability of the insured's estate.
                        • D. To adjust the death benefit to keep up with inflation.
                        Answer: B

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