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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:

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

                        Insurance Licensing New Jersey Life Producer Sample Questions:

                        Which of the following statements is true regarding a Waiver of Premium Rider?

                        • A. The insured will automatically become eligible for Accelerated Death Benefits.
                        • B. The policy's cash value will continue to grow, but at a slower rate because the insured is no longer paying premiums.
                        • C. The death benefit will be reduced by the amount of the unpaid premiums.
                        • D. There will be no change in the policy's rates, benefits, or options other than that the insured no longer has to pay the premiums on the policy.
                        Reveal Solution  Discussion  0

                        Correct Answer: D  🗳️

                        Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).

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

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

                        Correct Answer: A  🗳️

                        Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).

                        If a policyowner chooses to pay premiums for a specified number of years, this permanent life insurance policy is referred to as

                        • A. An adjustable life policy.
                        • B. A graded-premium whole life policy.
                        • C. A variable whole life policy.
                        • D. A limited-pay policy.
                        Reveal Solution  Discussion  0

                        Correct Answer: D  🗳️

                        Explanation: Only visible for TestKingIT members. You can sign-up / login (it's free).

                        An insurance company that terminates a producer's agency contract is required to file a written notice of the termination with the Banking and Insurance Department at which of the following times?

                        • A. A maximum of 7 days after the termination date.
                        • B. A maximum of 15 days after the termination date.
                        • C. Immediately.
                        • D. A maximum of 30 days after the termination date.
                        Reveal Solution  Discussion  0

                        Correct Answer: B  🗳️

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                        What is the purpose of the automatic premium loan rider?

                        • A. The insurer will pay the premium if the insured is permanently disabled.
                        • B. Protects the policyowner against an unintentional lapse of coverage.
                        • C. Guarantees the insured the right to purchase additional insurance without evidence of insurability.
                        • D. Allows partial surrender of a term policy.
                        Reveal Solution  Discussion  0

                        Correct Answer: B  🗳️

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