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

  • Exam Code: NJ-Life-Producer
  • Exam Name: New Jersey Life Producer Exam
  • Updated: Aug 03, 2026
  • Q & A: 95 Questions and Answers

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About Insurance Licensing NJ-Life-Producer Exam Questions

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        1. An insurer who is placed under an order of liquidation by a court of competent jurisdiction is defined under the terms of the New Jersey Life and Health Insurance Guaranty Association Act as

                        A) An incompetent insurer.
                        B) An insolvent insurer.
                        C) A bankrupt insurer.
                        D) An impaired insurer.


                        2. An individual must be a licensed producer in order to take which of the following actions?

                        A) Discuss the effects of age or health on premiums with a prospective insured.
                        B) Type binders or certificates.
                        C) Accept premiums from insureds at a recorded place of business.
                        D) Compile the names and addresses of prospective insureds for marketing purposes.


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

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


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


                        5. In New Jersey, an individual must be at least how many years of age to qualify for a producer's license?

                        A) Sixteen.
                        B) Nineteen.
                        C) Twenty-one.
                        D) Eighteen.


                        Solutions:

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

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