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Insurance Licensing NJ-Life-Producer Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Completing the Application, Underwriting, and Delivering the Policy | - Underwriting - Policy Delivery - Application Process |
| Topic 2: Retirement and Other Insurance Concepts | - Life Insurance Needs Analysis - Retirement Plans - Qualified Plans |
| Topic 3: Types of Policies | - Interest-Sensitive Life Products - Term Life Insurance - Combination Plans and Variations - Annuities - Traditional Whole Life Products |
| Topic 4: State Laws, Rules, and Regulations | - New Jersey Insurance Regulations - Producer Licensing Requirements - Ethics and Consumer Protection - Marketing Practices |
| Topic 5: Policy Riders, Provisions, Options, and Exclusions | - Policy Provisions and Options - Policy Riders - Policy Exclusions |
Insurance Licensing New Jersey Life Producer Sample Questions:
1. Which of the following transactions would not be subject to income tax under a Modified Endowment Contract (MEC)?
A) Dividend surrenders.
B) Policy withdrawals.
C) The death benefit.
D) Policy loans.
2. Which of the following retirement plans is not restricted to contribution limits set by the IRS?
A) 401(k).
B) Individual Retirement Plan.
C) Roth IRA.
D) Individual annuity.
3. Which of the following dividend options is taxable?
A) Paid-up additions.
B) Accumulation at interest.
C) Return of premium.
D) One-year term.
4. Which of the following is not among the rights of the life insurance policyowner?
A) Revoke an absolute assignment.
B) Borrow from the cash values.
C) Select and change a beneficiary.
D) Assign or transfer the policy.
5. What does the Fair Credit Reporting Act give the consumer the right to do?
A) Deny the insurer access to their credit report.
B) Request a copy of their credit report and an explanation of it from their agent.
C) Decide which credit agency the insurer can pull their information from.
D) Question the validity and source of any credit information collected and retained by the insurer.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: D |




