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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Types of Policies | - Traditional Whole Life Products - Annuities - Combination Plans and Variations - Term Life Insurance - Interest-Sensitive Life Products |
| Topic 2: State Laws, Rules, and Regulations | - Producer Licensing Requirements - New Jersey Insurance Regulations - Ethics and Consumer Protection - Marketing Practices |
| Topic 3: Completing the Application, Underwriting, and Delivering the Policy | - Application Process - Policy Delivery - Underwriting |
| Topic 4: Policy Riders, Provisions, Options, and Exclusions | - Policy Provisions and Options - Policy Exclusions - Policy Riders |
| Topic 5: Retirement and Other Insurance Concepts | - Retirement Plans - Qualified Plans - Life Insurance Needs Analysis |
Insurance Licensing New Jersey Life Producer Sample Questions:
Question 1
For a New Jersey insurance producer to charge a prospective insured for analyzing insurance coverages, there must be a reasonable relationship between the fee and the
A. Average face amount of the policies analyzed.
B. Total commission earned on the coverages purchased.
C. Average premium of the policies analyzed.
D. Nature of the services performed.
Question 2
The applicant must face the possibility of losing something of value in the event of the insured's death. This principle is known as
A. Indemnification.
B. Adverse selection.
C. Viatical settlement.
D. Insurable interest.
Question 3
The replacement of an existing policy requires all of the following EXCEPT
A. A complete comparison of the existing policy to the new policy.
B. Notification of the proposed replacement to the insurer whose policies are intended to be replaced.
C. Notification of what constitutes a replacement.
D. Notice that the owner can return the policy within 90 days for a full refund.
Question 4
Insurance purchased on the life of a borrower to provide indemnity for a loan balance if the borrower dies is referred to as
A. Ticket life insurance.
B. Bank insurance.
C. Liability indemnity insurance.
D. Credit life insurance.
Question 5
A licensed life or health producer who solicits insurance in New Jersey, has not selected New Jersey as his home state, and resides and maintains the principal office in another state is defined as
A. An alien producer.
B. A foreign producer.
C. A reciprocal producer.
D. A nonresident producer.
Solutions:
| Question 1 Answer: D | Question 2 Answer: D | Question 3 Answer: D | Question 4 Answer: D | Question 5 Answer: D |




