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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

SectionWeightObjectives
Taxes, Retirement & Advanced Concepts15-20%- Business Insurance & Third-Party Ownership
- Group Life Insurance
- Social Security & Government Benefits
- Retirement Plans & Tax Treatment
Application, Underwriting & Policy Delivery10-15%- Do Not Call & Privacy Regulations
- Underwriting Process & Risk Classification
- Completing the Application & Disclosure Requirements
- Policy Delivery & Legal Responsibilities
Policy Riders, Provisions, Options & Exclusions20-25%- Common Policy Riders
- Required & Optional Policy Provisions
- Policy Exclusions & Limitations
- Beneficiary Designations & Settlement Options
New Jersey Insurance Laws, Rules & Regulations20-25%- Ethics, Fiduciary Duty & Consumer Protection
- Trade Practices & Unfair Trade Laws
- State Regulatory Framework & Jurisdiction
- Licensing Requirements & Procedures
- Policy Replacement & Disclosure Rules
Types of Life Insurance Policies20-25%- Term Life Insurance
- Interest-Sensitive & Universal Life Products
- Traditional Whole Life Products
- Annuities & Retirement Products
- Combination Plans & Policy Variations

Insurance Licensing New Jersey Life Producer Sample Questions:

Question #1

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 broker.
  • C. An insurance agent.
  • D. An insurance consultant.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #2

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

  • A. Roth IRA.
  • B. Individual annuity.
  • C. 401(k).
  • D. Individual Retirement Plan.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

Which of the following statements is correct about an employment agreement between two producers?

  • A. A copy must be filed with each producer's attorney.
  • B. It must be in writing.
  • C. It must be witnessed by two disinterested parties.
  • D. It is nonbinding.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

All of the following items may be considered forms of advertising for life insurance EXCEPT

  • A. Buyer's Guides.
  • B. Audiovisual materials.
  • C. Sales presentations.
  • D. Informational brochures.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #5

Under New Jersey replacement regulations, it is the duty of the replacing insurance company to take all of the following actions EXCEPT

  • A. Require a list of all policies that will be replaced.
  • B. Retain a copy of the completed replacement Disclosure Statement.
  • C. Postpone underwriting until the existing insurer is notified.
  • D. Require its producers to comply with the regulations.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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