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

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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About Insurance Licensing NJ-Life-Producer Exam Questions

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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

SectionObjectives
Types of Policies- Interest-Sensitive Life Products
- Traditional Whole Life Products
- Combination Plans and Variations
- Term Life Insurance
- Annuities
Retirement and Other Insurance Concepts- Qualified Plans
- Life Insurance Needs Analysis
- Retirement Plans
State Laws, Rules, and Regulations- Marketing Practices
- Ethics and Consumer Protection
- New Jersey Insurance Regulations
- Producer Licensing Requirements
Policy Riders, Provisions, Options, and Exclusions- Policy Exclusions
- Policy Provisions and Options
- Policy Riders
Completing the Application, Underwriting, and Delivering the Policy- Application Process
- Policy Delivery
- Underwriting

Insurance Licensing New Jersey Life Producer Sample Questions:

Question #1

Jerry purchased a life insurance policy and deliberately misstated his age in order to reduce his premium payment. The insurer did not discover Jerry's misrepresentation until a claim was filed on the policy when Jerry was killed in a car accident. In this situation, it is likely that the insurer will

  • A. Collect all proper back premiums, plus interest based on Jerry's true age, from the policy proceeds.
  • B. Decrease the amount of proceeds to whatever the premium paid would have purchased at the correct age.
  • C. Decrease the cash surrender value of the policy by the amount of premium that should have been paid.
  • D. Deny payment of policy proceeds based on Jerry's material misrepresentation of age at the inception of the policy.
Answer: B

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Question #2

The principle that insurance is not a transaction of commerce and therefore should be regulated by the states was established by

  • A. U.S. v. South-Eastern Underwriters Association.
  • B. Paul v. Virginia.
  • C. The McCarran-Ferguson Act.
  • D. Public Act 15.
Answer: B

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Question #3

Which type of insurance policy is characterized by premiums that are fully paid up within a stated period, after which no further premiums are required?

  • A. Lump sum insurance.
  • B. Basic installment insurance.
  • C. Prepaid premium insurance.
  • D. Limited payment life insurance.
Answer: D

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Question #4

What is the result of an insurer approving an incomplete application?

  • A. The death benefit will be subject to review upon the death of the insured.
  • B. The agent can at any time during the term of the policy complete the application.
  • C. The insured must complete the application after the policy has been issued.
  • D. The insurer waives the right to that information and must honor the contract.
Answer: D

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Question #5

The policy feature that makes universal life different from whole life insurance policies is its

  • A. Flexible premium schedule.
  • B. Assignment options.
  • C. Fixed face amount.
  • D. Settlement options.
Answer: A

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