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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Life Insurance and Annuities | - Annuity basics
|
| Life Insurance Fundamentals | - Policy provisions and clauses
|
| State Regulations (New Jersey) | - Insurance laws and ethics
|
| Underwriting and Policy Issuance | - Risk classification
|
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) Accept premiums from insureds at a recorded place of business.
B) Compile the names and addresses of prospective insureds for marketing purposes.
C) Discuss the effects of age or health on premiums with a prospective insured.
D) Type binders or certificates.
2. Which of the following statements is correct about penalties imposed by the New Jersey Banking and Insurance Commissioner for violations of insurance regulations?
A) The Commissioner may impose penalties on producers but not on insurance companies.
B) The Commissioner may not impose further penalties on a producer who already has been penalized by a criminal court.
C) The Commissioner must provide written notice and an opportunity for a hearing before imposing a penalty.
D) Only a court of law can impose penalties.
3. An insured has a $100,000 policy with an accidental death benefit rider. If he dies on his way to work due to a heart attack, what will the insurer pay?
A) $150,000.
B) $250,000.
C) $200,000.
D) $100,000.
4. Under New Jersey replacement regulations, it is the duty of the replacing insurance company to take all of the following actions EXCEPT
A) Require its producers to comply with the regulations.
B) Postpone underwriting until the existing insurer is notified.
C) Require a list of all policies that will be replaced.
D) Retain a copy of the completed replacement Disclosure Statement.
5. The replacement of an existing policy requires all of the following EXCEPT
A) Notification of what constitutes a replacement.
B) Notice that the owner can return the policy within 90 days for a full refund.
C) A complete comparison of the existing policy to the new policy.
D) Notification of the proposed replacement to the insurer whose policies are intended to be replaced.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |





