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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: New Jersey Insurance Laws, Rules & Regulations | 20-25% | - State Regulatory Framework & Jurisdiction - Policy Replacement & Disclosure Rules - Ethics, Fiduciary Duty & Consumer Protection - Licensing Requirements & Procedures - Trade Practices & Unfair Trade Laws |
| Topic 2: Taxes, Retirement & Advanced Concepts | 15-20% | - Retirement Plans & Tax Treatment - Group Life Insurance - Business Insurance & Third-Party Ownership - Social Security & Government Benefits |
| Topic 3: Policy Riders, Provisions, Options & Exclusions | 20-25% | - Beneficiary Designations & Settlement Options - Policy Exclusions & Limitations - Required & Optional Policy Provisions - Common Policy Riders |
| Topic 4: Application, Underwriting & Policy Delivery | 10-15% | - Do Not Call & Privacy Regulations - Underwriting Process & Risk Classification - Completing the Application & Disclosure Requirements - Policy Delivery & Legal Responsibilities |
| Topic 5: Types of Life Insurance Policies | 20-25% | - Interest-Sensitive & Universal Life Products - Traditional Whole Life Products - Combination Plans & Policy Variations - Term Life Insurance - Annuities & Retirement Products |
Insurance Licensing New Jersey Life Producer Sample Questions:
1. A licensed life or health producer who solicits insurance in New Jersey, has not selected New Jersey as his home state, and resides and maintains the principal office in another state is defined as
A) An alien producer.
B) A nonresident producer.
C) A foreign producer.
D) A reciprocal producer.
2. An agent's underwriting duties include which of the following?
A) Completing all applications and collecting initial premiums.
B) Issuing the policy.
C) Declining or accepting an application.
D) Setting premium amounts.
3. What does the Fair Credit Reporting Act give the consumer the right to do?
A) Decide which credit agency the insurer can pull their information from.
B) Deny the insurer access to their credit report.
C) Question the validity and source of any credit information collected and retained by the insurer.
D) Request a copy of their credit report and an explanation of it from their agent.
4. A producer who is authorized by an insurance company to solicit, negotiate, or sell insurance contracts is acting as
A) An insurance consultant.
B) An insurance agent.
C) An insurance broker.
D) A financial consultant.
5. To renew an insurance producer license, a renewal applicant must earn 24 continuing education credits during the previous two years EXCEPT:
A) Resident producers.
B) Insurance consultants.
C) Insurance brokers.
D) Nonresident producers.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: D |


