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 08, 2026

Q & A: 95 Questions and Answers

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About Insurance Licensing NJ-Life-Producer Exam

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Life Insurance Fundamentals- Policy provisions and clauses
  • 1. Incontestability clause
    • 2. Grace period
      - Types of life insurance policies
      • 1. Term life insurance
        • 2. Whole life insurance
          • 3. Universal life insurance
            Topic 2: Underwriting and Policy Issuance- Risk classification
            • 1. Moral hazard and adverse selection
              • 2. Medical underwriting factors
                Topic 3: Life Insurance and Annuities- Annuity basics
                • 1. Variable annuities
                  • 2. Fixed annuities
                    Topic 4: State Regulations (New Jersey)- Insurance laws and ethics
                    • 1. Producer licensing requirements
                      • 2. Unfair trade practices

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        Question 1

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

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


                        Question 2

                        Which of the following transactions would not be subject to income tax under a Modified Endowment Contract (MEC)?

                        A. Policy loans.
                        B. The death benefit.
                        C. Policy withdrawals.
                        D. Dividend surrenders.


                        Question 3

                        A beneficiary is protected from creditors' claims in all of the following situations EXCEPT when the beneficiary is the

                        A. Insured's business partner.
                        B. Insured's estate.
                        C. Insured's spouse.
                        D. Insured's child.


                        Question 4

                        Which of the following information maintained by the Banking and Insurance Department on a producer is available to the public?

                        A. Medical disability information.
                        B. Criminal complaints against the producer.
                        C. Revocation of professional certifications held by the producer.
                        D. The names of the insurance companies represented by the producer.


                        Question 5

                        In New Jersey, an insurance company formed in New Jersey with offices in New York is a

                        A. Domestic insurer.
                        B. Foreign insurer.
                        C. Alien insurer.
                        D. Mutual insurer.


                        Solutions:

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

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