New Jersey Life Producer Exam Latest Update 2025-2026 110 Questions and 100% Verified Correct Answers Guaranteed A+
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? - CORRECT ANSWER: thirty
A Buyer's guide must be provided to all purchases of which of the following types of
insurance? - CORRECT ANSWER: Ten year level term
A company decides to purchase Key Employee life insurance for its vice president of operations. All of the following statements are correct EXCEPT the.. - CORRECT
ANSWER: Employee names the beneficiary
A contract that promises to pay an income to an insured until their death is called? -
CORRECT ANSWER: Life annuity
A creditor collects payment from a borrower for a credit life policy, but the policy is not issued. What action MUST the creditor take with the advance payment? - CORRECT
ANSWER: return it directly to the borrower
A life insurance policy that fails to meet the 7-pay test is called a.. - CORRECT
ANSWER: a Modified Endowment Contract
A modification to a life policy is called a.. - CORRECT ANSWER: Rider
A New Jersey producer who resides in Pennsylvania but maintains a principal place of business in New Jersey and who has selected New Jersey as their home state is referred to as which of the following? - CORRECT ANSWER: resident 1 / 2
A payor benefit rider provides which of the following benefits? - CORRECT ANSWER: A waiver of premium should the payor die, until the insured reaches a predetermined age
A person failing to comply with a subpoena from the Commissioner, may be charged
with.. - CORRECT ANSWER: contempt
A policy illustration given at the time of sale does not typically include the.. - CORRECT
ANSWER: names of the beneficiary
A policy that provides lifetime protection for an insured with premiums payable for 20
years is called a.. - CORRECT ANSWER: 20 pay-life
A producer acting as an agent may take all the following actions EXCEPT: - CORRECT
ANSWER: Place insurance with a company the producer does not represent
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.. - CORRECT ANSWER:
replacing
A producer is in violation of the Replacement regulation by doing which of the following?
- CORRECT ANSWER: advising the applicant to directly contact their existing insurer to
cancel their existing policy
A producer who employs another producer must take which of the following actions? -
CORRECT ANSWER: enter into a written employment agreement with the employee
producer
A producer who knowingly engages in a prohibited trade practice, can be issued a fine not to exceed.. - CORRECT ANSWER: $5,000 for the first offense; $10,000 for each subsequent offenses
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