Exam Code: NJ-Life-Producer
Exam Name: New Jersey Life Producer Exam
Updated: Jun 02, 2026
Q & A: 95 Questions and Answers
NJ-Life-Producer Free Demo download
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1. The policy feature that makes universal life different from whole life insurance policies is its
A) Fixed face amount.
B) Assignment options.
C) Settlement options.
D) Flexible premium schedule.
2. A group life contract that lapses because of nonpayment of premium will continue to cover losses incurred by the insured for
A) The duration of the grace period.
B) A maximum of 45 days after the last premium is paid.
C) A maximum of 30 days after the last premium is paid.
D) A maximum of 30 days after the grace period expires.
3. 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) Compile the names and addresses of prospective insureds for marketing purposes.
C) Discuss the effects of age or health on premiums with a prospective insured.
D) Type binders or certificates.
4. Generally, the maximum percentage of the face amount paid under an Accelerated Death Benefit would be
A) 100%.
B) 50%.
C) 10%.
D) 200%.
5. Jerry purchased a life insurance policy and deliberately misstated his age in order to reduce his premium payment. The insurer did not discover Jerry's misrepresentation until a claim was filed on the policy when Jerry was killed in a car accident. In this situation, it is likely that the insurer will
A) Decrease the cash surrender value of the policy by the amount of premium that should have been paid.
B) Collect all proper back premiums, plus interest based on Jerry's true age, from the policy proceeds.
C) Deny payment of policy proceeds based on Jerry's material misrepresentation of age at the inception of the policy.
D) Decrease the amount of proceeds to whatever the premium paid would have purchased at the correct age.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: D |
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