Insurance Licensing NJ-Life-Producer Actual Free Exam Questions & Community Discussion

Exam Code/Number: NJ-Life-Producer
Exam Name/Title: New Jersey Life Producer Exam
Certification Provider: Insurance Licensing
Corresponding Certification: New Jersey Insurance Licencing (NJDOBI)

Exam Questions: 95
Updated On: Jun 02, 2026

Question #31

An insurance producer sends an invitation for a seminar on college funding. According to New Jersey law, what must be contained in the mailer if the producer intends to solicit insurance at the seminar?

A. A personal biography.

B. The producer's name as it appears on the license.

C. The producer's license number.

D. The address of the producer.

Discussion 0

Correct Answer: B Vote an answer

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Question #32

An owner of a life insurance policy may transfer ownership temporarily with

A. An absolute assignment.

B. A beneficiary assignment.

C. A collateral assignment.

D. A transfer assignment.

Discussion 0

Correct Answer: C Vote an answer

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Question #33

For a New Jersey insurance producer to charge a prospective insured for analyzing insurance coverages, there must be a reasonable relationship between the fee and the

A. Average premium of the policies analyzed.

B. Total commission earned on the coverages purchased.

C. Average face amount of the policies analyzed.

D. Nature of the services performed.

Discussion 0

Correct Answer: D Vote an answer

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Question #34

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. Only a court of law can impose penalties.

C. The Commissioner must provide written notice and an opportunity for a hearing before imposing a penalty.

D. The Commissioner may not impose further penalties on a producer who already has been penalized by a criminal court.

Discussion 0

Correct Answer: C Vote an answer

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Question #35

Which of the following actions by a producer is considered an unfair method of competition?

A. Securing insurance for a client at a cheaper price than a competitor.

B. Using television to advertise.

C. Overstating the benefits of an insurance policy.

D. Offering broader coverages than a competitor.

Discussion 0

Correct Answer: C Vote an answer

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Question #36

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. Discuss the effects of age or health on premiums with a prospective insured.

C. Compile the names and addresses of prospective insureds for marketing purposes.

D. Type binders or certificates.

Discussion 0

Correct Answer: B Vote an answer

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Question #37

What is the purpose of the Accelerated Death Benefit Rider?

A. To decrease the tax liability of the insured's estate.

B. To adjust the death benefit to keep up with inflation.

C. To increase the death benefit by a stated percentage.

D. To provide for the early payment of the death benefit for a terminally ill insured.

Discussion 0

Correct Answer: D Vote an answer

Question #38

What is the purpose of the Accelerated Death Benefit Rider?

A. To decrease the tax liability of the insured's estate.

B. To adjust the death benefit to keep up with inflation.

C. To increase the death benefit by a stated percentage.

D. To provide for the early payment of the death benefit for a terminally ill insured.

Discussion 0

Correct Answer: D Vote an answer

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Question #39

Why would a policyowner purchase a term rider for their existing policy?

A. To guarantee the premium amount throughout the life of the policy.

B. To reduce the premium payment period.

C. To provide protection in case the insurer refused to pay the benefits of the policy.

D. To add additional death benefits.

Discussion 0

Correct Answer: D Vote an answer

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Question #40

The principle that insurance is not a transaction of commerce and therefore should be regulated by the states was established by

A. U.S. v. South-Eastern Underwriters Association.

B. Public Act 15.

C. Paul v. Virginia.

D. The McCarran-Ferguson Act.

Discussion 0

Correct Answer: C Vote an answer

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