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NEW JERSEY LIFE PRODUCER EXAM LATEST 2026-2027 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
The act of using misrepresentations to induce an insured person
to terminate an existing policy and purchase a new policy is
referred as.. - ANSWER-twisting
A producer who shares commission with a client may be found
guilty of.. - ANSWER-rebating
A producer who knowingly engages in a prohibited trade practice,
can be issued a fine not to exceed.. - ANSWER-$5,000 for the
first offense; $10,000 for each subsequent offenses
A producer who UN-knowingly engages in a prohibited trade
practice, can be issued a fine not to exceed.. - ANSWER-$1,000
If an insurer or producer violates a cease and desist order, the
Commissioner could assess a penalty not to exceed.. - ANSWER-
$5,000
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Making statements which are false and derogatory about the
financial condition of the insurer is: - ANSWER-defamation
When the beneficiary of a life insurance policy is a minor, the
insurer can pay the proceeds - ANSWER-if legal guardian has
been appointed
A branch office of registration form must be filed with the Banking
and Insurance Commissioner a MINIMUM of how many days
before conducting business at the branch office? - ANSWER-thirty
If the Guaranty Association assumes management of an insolvent
insurer, the maximum amount of death benefits for which they are
liable to is.. - ANSWER-$500,000 per person
If a producer changes their address, how many days do they have
to notify the Department? - ANSWER-30
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Which of the following activities does not require a license? -
ANSWER-Scheduling appointments for producers to sell
insurance
An insurer who is placed under an order of liquidation by a court
of competent jurisdiction is defined under the terms of the New
Jersey Life and Health Insurance Guaranty act as.. - ANSWER-an
insolvent insurer
The first violation of the NJ Fraud Prevention Act can result in a
fine of - ANSWER-$5,000
A producer assists an insured in converting a life policy to a
reduced paid-up insurance in order to buy a new policy. This
action is best known as.. - ANSWER-replacing
Which of the following MUST an agent do when replacing a life
insurance policy? - ANSWER-submit to the replacing insurer a list
of all the life insurance policies or annuity contracts proposed to
be replaced
NEW JERSEY LIFE PRODUCER EXAM LATEST 2026-2027 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
The act of using misrepresentations to induce an insured person
to terminate an existing policy and purchase a new policy is
referred as.. - ANSWER-twisting
A producer who shares commission with a client may be found
guilty of.. - ANSWER-rebating
A producer who knowingly engages in a prohibited trade practice,
can be issued a fine not to exceed.. - ANSWER-$5,000 for the
first offense; $10,000 for each subsequent offenses
A producer who UN-knowingly engages in a prohibited trade
practice, can be issued a fine not to exceed.. - ANSWER-$1,000
If an insurer or producer violates a cease and desist order, the
Commissioner could assess a penalty not to exceed.. - ANSWER-
$5,000
,2|Page
Making statements which are false and derogatory about the
financial condition of the insurer is: - ANSWER-defamation
When the beneficiary of a life insurance policy is a minor, the
insurer can pay the proceeds - ANSWER-if legal guardian has
been appointed
A branch office of registration form must be filed with the Banking
and Insurance Commissioner a MINIMUM of how many days
before conducting business at the branch office? - ANSWER-thirty
If the Guaranty Association assumes management of an insolvent
insurer, the maximum amount of death benefits for which they are
liable to is.. - ANSWER-$500,000 per person
If a producer changes their address, how many days do they have
to notify the Department? - ANSWER-30
, 3|Page
Which of the following activities does not require a license? -
ANSWER-Scheduling appointments for producers to sell
insurance
An insurer who is placed under an order of liquidation by a court
of competent jurisdiction is defined under the terms of the New
Jersey Life and Health Insurance Guaranty act as.. - ANSWER-an
insolvent insurer
The first violation of the NJ Fraud Prevention Act can result in a
fine of - ANSWER-$5,000
A producer assists an insured in converting a life policy to a
reduced paid-up insurance in order to buy a new policy. This
action is best known as.. - ANSWER-replacing
Which of the following MUST an agent do when replacing a life
insurance policy? - ANSWER-submit to the replacing insurer a list
of all the life insurance policies or annuity contracts proposed to
be replaced
