Insurance Licensing NJ-Life-Producer Exam : New Jersey Life Producer Exam

  • Exam Code: NJ-Life-Producer
  • Exam Name: New Jersey Life Producer Exam
  • Updated: Jul 17, 2026
  • Q & A: 95 Questions and Answers

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Insurance Licensing New Jersey Life Producer Sample Questions:

1. The Producer Licensing regulation requires that a branch office be open to the public

A) No less than forty hours per week.
B) On a posted schedule that provides reasonable access.
C) Monday through Friday from 8 a.m. to 5 p.m.
D) At least one evening per week and one Saturday per month.


2. A policyowner cannot change the beneficiary if he has named

A) A permanent beneficiary.
B) An irrevocable beneficiary.
C) A revocable beneficiary.
D) A spouse.


3. A life insurance policy most often becomes effective when the

A) Agent and individual agree on coverage.
B) Application is submitted.
C) Policy is actually issued.
D) Premium is collected and policy is issued.


4. In order to receive fees other than commissions from a life insurance prospect, an insurance producer acting as a consultant must first

A) Present a Notice Regarding Replacement of Life Insurance form to the prospect.
B) Obtain a written commitment from the prospect to purchase new life insurance.
C) Present a Comparative Information form to the prospect.
D) Obtain a signed written memorandum from the prospect stating the amount of compensation.


5. Which of the following statements is true about premium refunds resulting from the cancellation of a credit life policy?

A) They are permitted only if they will be used to purchase replacement coverage.
B) They are prohibited by law.
C) They are considered unearned premiums and must be paid to the borrower.
D) They are considered earned premiums and may be retained by the creditor as loan security.


Solutions:

Question # 1
Answer: B
Question # 2
Answer: B
Question # 3
Answer: D
Question # 4
Answer: D
Question # 5
Answer: C

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