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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Policy Riders, Provisions, Options & Exclusions | 20-25% | - Required & Optional Policy Provisions - Beneficiary Designations & Settlement Options - Policy Exclusions & Limitations - Common Policy Riders |
| Topic 2: New Jersey Insurance Laws, Rules & Regulations | 20-25% | - Licensing Requirements & Procedures - Ethics, Fiduciary Duty & Consumer Protection - State Regulatory Framework & Jurisdiction - Policy Replacement & Disclosure Rules - Trade Practices & Unfair Trade Laws |
| Topic 3: Types of Life Insurance Policies | 20-25% | - Annuities & Retirement Products - Interest-Sensitive & Universal Life Products - Combination Plans & Policy Variations - Traditional Whole Life Products - Term Life Insurance |
| Topic 4: Taxes, Retirement & Advanced Concepts | 15-20% | - Social Security & Government Benefits - Retirement Plans & Tax Treatment - Group Life Insurance - Business Insurance & Third-Party Ownership |
| Topic 5: Application, Underwriting & Policy Delivery | 10-15% | - Completing the Application & Disclosure Requirements - Policy Delivery & Legal Responsibilities - Do Not Call & Privacy Regulations - Underwriting Process & Risk Classification |
Insurance Licensing New Jersey Life Producer Sample Questions:
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. $200,000.
- B. $150,000.
- C. $250,000.
- D. $100,000.
Correct Answer: D 🗳️
Explanation: Only visible for Lead2PassExam members. You can sign-up / login (it's free).
According to New Jersey law, copies of insurance advertisements must be maintained
- A. By the Department of Banking and Insurance.
- B. At the producer's office.
- C. On the producer's computer.
- D. At the company's office.
Correct Answer: D 🗳️
Explanation: Only visible for Lead2PassExam members. You can sign-up / login (it's free).
A producer who encourages an insured to lapse one policy and buy a new one based on an incomplete comparison of the policies may be engaged in the act of
- A. Misrepresentation.
- B. Twisting.
- C. Rebating.
- D. Tampering.
Correct Answer: B 🗳️
Explanation: Only visible for Lead2PassExam members. You can sign-up / login (it's free).
Which of the following represents a reduced paid-up nonforfeiture option?
- A. The new protection is for the same amount as the original policy.
- B. A full share of expense loading must be included in the premium on the reduced coverage.
- C. Further premiums must be paid on the reduced policy.
- D. The new policy will have a decreased face amount.
Correct Answer: D 🗳️
Explanation: Only visible for Lead2PassExam members. You can sign-up / login (it's free).
Which rider assures the premiums will be paid on a juvenile policy until the insured child reaches a specific age?
- A. Guaranteed insurability rider.
- B. Automatic premium loan rider.
- C. Waiver of premium rider.
- D. Payor rider.
Correct Answer: D 🗳️
Explanation: Only visible for Lead2PassExam members. You can sign-up / login (it's free).
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