PDF Version DemoInsurance Licensing NJ-Life-Producer Exam Overview:
| Certification Vendor: | New Jersey Department of Banking and Insurance (NJDOBI) |
| Exam Name: | New Jersey Life Producer Examination |
| Exam Number: | NJ-Life-Producer |
| Exam Format: | Multiple Choice, Computer-Based Testing |
| Real Exam Qty: | 83 |
| Exam Duration: | 120 minutes |
| Related Certifications: | New Jersey Life Insurance Producer License |
| Exam Price: | USD 47 |
| Certificate Validity Period: | License renewal required every 2 years with continuing education requirements |
| Available Languages: | English |
| Passing Score: | 70% |
| Sample Questions: | Insurance Licensing NJ-Life-Producer Sample Questions |
| Exam Way: | Available at PSI testing centers and through remotely proctored online examination. |
| Pre Condition: | Completion of a New Jersey-approved prelicensing education course (typically 20 hours for Life line of authority) and possession of a Certificate of Completion. |
| Official Syllabus URL: | https://www.psiexams.com/test-takers/njdobi/ |
Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Retirement and Other Insurance Concepts | - Life Insurance Needs Analysis - Retirement Plans - Qualified Plans |
| Topic 2: Policy Riders, Provisions, Options, and Exclusions | - Policy Exclusions - Policy Provisions and Options - Policy Riders |
| Topic 3: Types of Policies | - Traditional Whole Life Products - Annuities - Interest-Sensitive Life Products - Term Life Insurance - Combination Plans and Variations |
| Topic 4: Completing the Application, Underwriting, and Delivering the Policy | - Policy Delivery - Application Process - Underwriting |
| 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. When can the beneficiary be changed in a life insurance policy?
A) The beneficiary can never be changed once the policy is issued.
B) A beneficiary change can occur upon the request of the revocable beneficiary.
C) The insured can usually change the beneficiary at any time during the policy term.
D) The insurer determines specified dates within the policy to allow for changes.
2. An insurer who is placed under an order of liquidation by a court of competent jurisdiction is defined under the terms of the New Jersey Life and Health Insurance Guaranty Association Act as
A) An incompetent insurer.
B) A bankrupt insurer.
C) An impaired insurer.
D) An insolvent insurer.
3. A reinstatement clause outlines reinstatement conditions that include
A) A decrease in policy limits.
B) Proof of insurability.
C) Payment of outstanding loans within the year.
D) A higher premium charge.
4. Lapsed individual life insurance may be reinstated at any time within
A) 2 years.
B) 3 years.
C) 5 years.
D) 4 years.
5. Which of the following actions by a producer is considered an unfair method of competition?
A) Offering broader coverages than a competitor.
B) Securing insurance for a client at a cheaper price than a competitor.
C) Overstating the benefits of an insurance policy.
D) Using television to advertise.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: C |
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