NJ Life Producer Exam Study Life
Insurance Latest Update 2025/2026
GRADED A+
Renewable Term Life Insurance - correct answerAn insurer must renew a renewable
term policy at the policyowner's request regardless of the insurability status of the
insured.
Fixed-amount - correct answerThe settlement option that provides for payments to be
made in regular installments to a beneficiary until the principal and interest are
exhausted best describes:
Must give public reasonable access. - correct answerWhat hours of operation is a
branch office required to have?
Amount of indeptness - correct answerUnder a Credit Life Policy, the amount of
coverage shall not exceed the:
180 Days - correct answerIn most circumstances, a temporary license in New Jersey
shall not be valid for a period longer than:
31 Days - correct answerTelemarketers must update their solicitation lists with the
National Do Not Call Registry every...
Notify the Producer whose policy is being replaced - correct answerWhen replacing
existing life insurance, an agent MUST...
have their principle office in New Jersey - correct answerA producer who wishes to hold
a Resident NJ Life Producer license, who lives in another state, must...
The ceding insurer - correct answerA insurer procuring insurance for itself from another
insurer is called...
90 days - correct answerA business name authorization expires in
12 months - correct answerA first time applicant is someone who has not been licensed
as a producer for the previous...
, 12 months - correct answerWhen applying for a producer's license, an applicant must
have passed the State Licensing Exam within how long from the date of their application
for license?
Interest-only - correct answerIn which of the following are proceeds left with the insurer
and earnings sent to the beneficiary?
Variable Life - correct answerUnder what type of life insurance policy will the death
benefit vary, based on the performance of an underlying portfolio of securities?
Not Tax Deductable - correct answerGenerally, premiums paid on an individual life
insurance policy are:
9 years and 8 months - correct answerA 10 year family income policy was purchased
effective April 1, 2007. The insured died August 1, 2007. The beneficiary receives
monthly income for:
the face amount less the annual premium - correct answerJohn the insured dies during
the grace period of his life insurance policy and had not paid the annual premium. The
insurance company is obligated to pay which of the following to the beneficiary?
Contingent beneficiaries - correct answerIf the primary beneficiary dies before an
insured, the individuals are paid when the insured dies are...
premium mode - correct answerThe aspect of a policy that allows a policyholder to
select the timing of premium payments is known as...
Pay an amount equivalent to that which the premium would have purchased at the
correct age - correct answerIf an insured understates her age and this is discovered
upon her death, the insurer will...
provide income for retirement - correct answerThe primary purpose for an annuity is to...
premium schedule - correct answerWhich of the following features makes Universal Life
insurance different from other forms of permanent insurance?
Automatic premium loan - correct answerAn insured may receive protection against the
unintentional lapse of his life insurance policy contract by requesting the...
Buy and Sell agreement - correct answerAn agreement to purchase a deceased
partner's share of a business, using the proceeds from a life insurance policy, is called
a...
Immediate - correct answerElisabeth retires. She purchases an annuity. One month
later, she starts to receive payments from the annuity. What type of annuity does
Elisabeth have?
Insurance Latest Update 2025/2026
GRADED A+
Renewable Term Life Insurance - correct answerAn insurer must renew a renewable
term policy at the policyowner's request regardless of the insurability status of the
insured.
Fixed-amount - correct answerThe settlement option that provides for payments to be
made in regular installments to a beneficiary until the principal and interest are
exhausted best describes:
Must give public reasonable access. - correct answerWhat hours of operation is a
branch office required to have?
Amount of indeptness - correct answerUnder a Credit Life Policy, the amount of
coverage shall not exceed the:
180 Days - correct answerIn most circumstances, a temporary license in New Jersey
shall not be valid for a period longer than:
31 Days - correct answerTelemarketers must update their solicitation lists with the
National Do Not Call Registry every...
Notify the Producer whose policy is being replaced - correct answerWhen replacing
existing life insurance, an agent MUST...
have their principle office in New Jersey - correct answerA producer who wishes to hold
a Resident NJ Life Producer license, who lives in another state, must...
The ceding insurer - correct answerA insurer procuring insurance for itself from another
insurer is called...
90 days - correct answerA business name authorization expires in
12 months - correct answerA first time applicant is someone who has not been licensed
as a producer for the previous...
, 12 months - correct answerWhen applying for a producer's license, an applicant must
have passed the State Licensing Exam within how long from the date of their application
for license?
Interest-only - correct answerIn which of the following are proceeds left with the insurer
and earnings sent to the beneficiary?
Variable Life - correct answerUnder what type of life insurance policy will the death
benefit vary, based on the performance of an underlying portfolio of securities?
Not Tax Deductable - correct answerGenerally, premiums paid on an individual life
insurance policy are:
9 years and 8 months - correct answerA 10 year family income policy was purchased
effective April 1, 2007. The insured died August 1, 2007. The beneficiary receives
monthly income for:
the face amount less the annual premium - correct answerJohn the insured dies during
the grace period of his life insurance policy and had not paid the annual premium. The
insurance company is obligated to pay which of the following to the beneficiary?
Contingent beneficiaries - correct answerIf the primary beneficiary dies before an
insured, the individuals are paid when the insured dies are...
premium mode - correct answerThe aspect of a policy that allows a policyholder to
select the timing of premium payments is known as...
Pay an amount equivalent to that which the premium would have purchased at the
correct age - correct answerIf an insured understates her age and this is discovered
upon her death, the insurer will...
provide income for retirement - correct answerThe primary purpose for an annuity is to...
premium schedule - correct answerWhich of the following features makes Universal Life
insurance different from other forms of permanent insurance?
Automatic premium loan - correct answerAn insured may receive protection against the
unintentional lapse of his life insurance policy contract by requesting the...
Buy and Sell agreement - correct answerAn agreement to purchase a deceased
partner's share of a business, using the proceeds from a life insurance policy, is called
a...
Immediate - correct answerElisabeth retires. She purchases an annuity. One month
later, she starts to receive payments from the annuity. What type of annuity does
Elisabeth have?
