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

  • Exam Code: NJ-Life-Producer
  • Exam Name: New Jersey Life Producer Exam
  • Updated: Aug 13, 2026
  • Q & A: 95 Questions and Answers

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        1. One of the major tax advantages of life insurance is that

                        A) The distribution of the annual earnings is tax free.
                        B) Employer contributions to an employee's life insurance policy are tax deductible to the employee.
                        C) The beneficiary generally does not pay income tax on the proceeds.
                        D) Annual earnings are not taxed on a state or federal level.


                        2. A reinstatement clause outlines reinstatement conditions that include

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


                        3. The free look period for an annuity purchased from a local agent is at least

                        A) 45 days, and not more than 60 days, from the date of policy delivery.
                        B) 10 days, and not more than 30 days, from the date of policy delivery.
                        C) 15 days, and not more than 45 days, from the date of policy delivery.
                        D) 30 days, and not more than 45 days, from the date of policy delivery.


                        4. After a New Jersey producer license has been revoked, the licensee may not reapply for a new license for a minimum of

                        A) 6 months.
                        B) 5 years.
                        C) 3 years.
                        D) 1 year.


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

                        A) A financial consultant.
                        B) An insurance agent.
                        C) An insurance consultant.
                        D) An insurance broker.


                        Solutions:

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

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