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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Types of Policies | - Interest-Sensitive Life Products - Traditional Whole Life Products - Annuities - Term Life Insurance - Combination Plans and Variations |
| Topic 2: Policy Riders, Provisions, Options, and Exclusions | - Policy Exclusions - Policy Riders - Policy Provisions and Options |
| Topic 3: Completing the Application, Underwriting, and Delivering the Policy | - Underwriting - Application Process - Policy Delivery |
| Topic 4: Retirement and Other Insurance Concepts | - Life Insurance Needs Analysis - Qualified Plans - Retirement Plans |
| Topic 5: State Laws, Rules, and Regulations | - Marketing Practices - New Jersey Insurance Regulations - Producer Licensing Requirements - Ethics and Consumer Protection |
Insurance Licensing New Jersey Life Producer Sample Questions:
1. An individual must be a licensed producer in order to take which of the following actions?
A) Compile the names and addresses of prospective insureds for marketing purposes.
B) Discuss the effects of age or health on premiums with a prospective insured.
C) Type binders or certificates.
D) Accept premiums from insureds at a recorded place of business.
2. One of the major tax advantages of life insurance is that
A) Annual earnings are not taxed on a state or federal level.
B) The beneficiary generally does not pay income tax on the proceeds.
C) The distribution of the annual earnings is tax free.
D) Employer contributions to an employee's life insurance policy are tax deductible to the employee.
3. A policy may contain provisions excluding or restricting coverage as specified in the event of death under all of the following EXCEPT
A) Fare-paying passenger.
B) Not provided in the source question.
C) War, or act of war.
D) A licensed pilot of a personal aircraft.
4. 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) Limited payment life insurance.
B) Prepaid premium insurance.
C) Lump sum insurance.
D) Basic installment insurance.
5. Sam had a $100,000 five-year, nonrenewable level term life insurance policy with his wife as the beneficiary.
Sam dies eight years after the inception date of the policy. How much will be paid to Sam's wife?
A) $100,000.
B) $60,000.
C) $40,000.
D) Nothing.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: D |




