OpenExamsFREE PRACTICE — ANY EXAM

life producer & instructor examination — Information & Free Practice

US-NJ · Examination information

130 free questions · Answer explanations · No signup required

Start free practice →

life producer & instructor examination

Provider
PSI Services LLC
Format
Computer examination at a test center or remotely proctored
Exam questions
83 scored items; 5 to 19 additional experimental questions may be administered without scoring
Time limit
3.5 hours
Passing score
70% correct
Examination outline
  • I.0 TYPES OF POLICIES (9 Items)
    • 1.1 Traditional Whole Life Products
    • 1.1 Traditional Whole Life Products / Ordinary (straight) life
    • 1.1 Traditional Whole Life Products / Limited-pay and single-premium life
    • 1.1 Traditional Whole Life Products / Adjustable life
    • 1.2 Interest-Sensitive Life Products
    • 1.2 Interest-Sensitive Life Products / Universal life
    • 1.2 Interest-Sensitive Life Products / Variable whole life
    • 1.2 Interest-Sensitive Life Products / Variable universal life
    • 1.2 Interest-Sensitive Life Products / Interest-sensitive whole life
    • 1.3 Term life
    • 1.3 Term life / Level, decreasing, and increasing term
    • 1.3 Term life / Special features
    • 1.3 Term life / Special features / Renewable
    • 1.3 Term life / Special features / Convertible
    • 1.4 Annuities
    • 1.4 Annuities / Single, level, and flexible premium
    • 1.4 Annuities / Immediate and deferred
    • 1.4 Annuities / Fixed and variable
    • 1.4 Annuities / Equity index
    • 1.5 Combination Plans and Variations
    • 1.5 Combination Plans and Variations / Joint life
    • 1.5 Combination Plans and Variations / Survivorship life
  • 2.0 POLICY RIDERS, PROVISIONS, OPTIONS, AND EXCLUSIONS (21 Items)
    • 2.1 Policy Riders
    • 2.1 Policy Riders / Waiver of premium and waiver of premium with disability income
    • 2.1 Policy Riders / Guaranteed insurability
    • 2.1 Policy Riders / Payor benefit
    • 2.1 Policy Riders / Accidental death and/or accidental death and dismemberment
    • 2.1 Policy Riders / Term riders
    • 2.1 Policy Riders / Other insureds (e.g., spouse, children, nonfamily)
    • 2.1 Policy Riders / Cost of living
    • 2.2 Policy Provisions and Options
    • 2.2 Policy Provisions and Options / Entire contract
    • 2.2 Policy Provisions and Options / Insuring clause
    • 2.2 Policy Provisions and Options / Free look
    • 2.2 Policy Provisions and Options / Consideration
    • 2.2 Policy Provisions and Options / Owner’s rights
    • 2.2 Policy Provisions and Options / Beneficiary designations
    • 2.2 Policy Provisions and Options / Beneficiary designations / Primary and contingent
    • 2.2 Policy Provisions and Options / Beneficiary designations / Revocable and irrevocable
    • 2.2 Policy Provisions and Options / Beneficiary designations / Changes
    • 2.2 Policy Provisions and Options / Beneficiary designations / Common disaster
    • 2.2 Policy Provisions and Options / Beneficiary designations / Minor beneficiaries
    • 2.2 Policy Provisions and Options / Premium Payment
    • 2.2 Policy Provisions and Options / Premium Payment / Modes
    • 2.2 Policy Provisions and Options / Premium Payment / Grace period
    • 2.2 Policy Provisions and Options / Automatic premium loan
    • 2.2 Policy Provisions and Options / Level or flexible
    • 2.2 Policy Provisions and Options / Reinstatement
    • 2.2 Policy Provisions and Options / Policy loans, withdrawals, partial surrenders
    • 2.2 Policy Provisions and Options / Nonforfeiture options
    • 2.2 Policy Provisions and Options / Dividends and dividend options
    • 2.2 Policy Provisions and Options / Incontestability
    • 2.2 Policy Provisions and Options / Assignments
    • 2.2 Policy Provisions and Options / Suicide
    • 2.2 Policy Provisions and Options / Misstatement of age and gender
    • 2.2 Policy Provisions and Options / Settlement options
    • 2.3 Policy Exclusions
  • 3.0 COMPLETING THE APPLICATION, UNDERWRITING, AND DELIVERING THE POLICY (12 Items)
    • 3.1 Completing The Application
    • 3.1 Completing The Application / Required signatures
    • 3.1 Completing The Application / Changes in the application
    • 3.1 Completing The Application / Consequences of incomplete applications
    • 3.1 Completing The Application / Warranties and representations
    • 3.1 Completing The Application / Collecting the initial premium and issuing the receipt
    • 3.1 Completing The Application / Replacement
    • 3.1 Completing The Application / Disclosures at point of sale (i.e. HIPAA, HIV consent)
    • 3.2 Underwriting
    • 3.2 Underwriting / Insurable interest
    • 3.2 Underwriting / Medical information and consumer reports
    • 3.2 Underwriting / Fair Credit Reporting Act
    • 3.2 Underwriting / Risk classification
    • 3.3 Delivering The Policy
    • 3.3 Delivering The Policy / When coverage begins
    • 3.3 Delivering The Policy / Explaining the policy and its provisions, riders, exclusions, and ratings to the client
    • 3.4 Do Not Call List
  • 4.0 TAXES, RETIREMENT, AND OTHER INSURANCE CONCEPTS (8 Items)
    • 4.1 Third-Party Ownership
    • 4.2 Group Life Insurance
    • 4.2 Group Life Insurance / Conversion privilege
    • 4.2 Group Life Insurance / Contributory vs. noncontributory
    • 4.3 Retirement Plans
    • 4.3 Retirement Plans / Tax-qualified plans
    • 4.3 Retirement Plans / Nonqualified plans
    • 4.4 Business Insurance
    • 4.5 Social Security Benefits and Taxes
    • 4.6. Tax Treatment of Insurance Premiums, Proceeds, Dividends
    • 4.6. Tax Treatment of Insurance Premiums, Proceeds, Dividends / Individual life
    • 4.6. Tax Treatment of Insurance Premiums, Proceeds, Dividends / Group life
    • 4.6. Tax Treatment of Insurance Premiums, Proceeds, Dividends / Modified Endowment Contracts (MECs)
    • 4.7 Accelerated Death Benefits—Living Benefits
    • 4.8 Endowments
  • 5.0 New Jersey Laws, Rules, and Regulations Common to Life, Accident and Health, Property, and Casualty Insurance (25 Items)
    • 5.1 State Regulatory Jurisdiction (4 Items)
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / State Laws
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / Court Action
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / Court Action / Interpretations
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / Court Action / Effect on Law and Policy Forms
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / Related Federal Laws and court Cases
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / Related Federal Laws and court Cases / Paul v. Virginia
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / Related Federal Laws and court Cases / US v. South-Eastern Underwriters Assoc.
    • 5.1 State Regulatory Jurisdiction (4 Items) / Legislation / Related Federal Laws and court Cases / McCarran-Ferguson Act/Public Law 15
    • 5.1 State Regulatory Jurisdiction (4 Items) / Commissioner/Dept. of Banking and Insurnace
    • 5.1 State Regulatory Jurisdiction (4 Items) / Commissioner/Dept. of Banking and Insurnace / Broad Powers of Commissioner
    • 5.1 State Regulatory Jurisdiction (4 Items) / Commissioner/Dept. of Banking and Insurnace / Notice and Hearing
    • 5.1 State Regulatory Jurisdiction (4 Items) / Commissioner/Dept. of Banking and Insurnace / Penalties
    • 5.2 Definitions (4 Items)
    • 5.2 Definitions (4 Items) / Insurance-related conduct
    • 5.2 Definitions (4 Items) / Domestic, foreign, and alien companies
    • 5.2 Definitions (4 Items) / Stock and mutual
    • 5.2 Definitions (4 Items) / Reinsurance/Retrocession
    • 5.2 Definitions (4 Items) / Certificate of authority
    • 5.2 Definitions (4 Items) / A producer acting as:
    • 5.2 Definitions (4 Items) / A producer acting as: / Insurance Agent
    • 5.2 Definitions (4 Items) / A producer acting as: / Insurance Broker
    • 5.2 Definitions (4 Items) / A producer acting as: / Insurance Consultant
    • 5.2 Definitions (4 Items) / “Sell, Solicit, and Negotiate”
    • 5.3 Licensing (8 Items)
    • 5.3 Licensing (8 Items) / Types of licenses/authorities/requirements
    • 5.3 Licensing (8 Items) / Types of licenses/authorities/requirements / Producer
    • 5.3 Licensing (8 Items) / Types of licenses/authorities/requirements / Business entity
    • 5.3 Licensing (8 Items) / Types of licenses/authorities/requirements / Nonresident
    • 5.3 Licensing (8 Items) / Types of licenses/authorities/requirements / Nonresident / Producer
    • 5.3 Licensing (8 Items) / Types of licenses/authorities/requirements / Nonresident / Business Entity
    • 5.3 Licensing (8 Items) / Prelicensing requirements
    • 5.3 Licensing (8 Items) / Surplus lines
    • 5.3 Licensing (8 Items) / Temporary work authority
    • 5.3 Licensing (8 Items) / Contractual relationships
    • 5.3 Licensing (8 Items) / Contractual relationships / Company/producer
    • 5.3 Licensing (8 Items) / Contractual relationships / Producer employing another producer
    • 5.3 Licensing (8 Items) / Contractual relationships / Producer substituting for or taking over the business of a disabled/deceased producer
    • 5.3 Licensing (8 Items) / Maintenance and duration of license
    • 5.3 Licensing (8 Items) / Maintenance and duration of license / Renewal
    • 5.3 Licensing (8 Items) / License refusal/termination
    • 5.3 Licensing (8 Items) / License refusal/termination / Denial
    • 5.3 Licensing (8 Items) / License refusal/termination / Cancellation/reinstatement
    • 5.3 Licensing (8 Items) / License refusal/termination / Revocation/suspension
    • 5.4 Trade Practices (6 Items)
    • 5.4 Trade Practices (6 Items) / Prohibited practices
    • 5.4 Trade Practices (6 Items) / Licensee responsibilities (Reporting information to the Department of Banking and Insurance)
    • 5.4 Trade Practices (6 Items) / Licensee responsibilities (Reporting information to the Department of Banking and Insurance) / Business names (including fictitious)
    • 5.4 Trade Practices (6 Items) / Licensee responsibilities (Reporting information to the Department of Banking and Insurance) / Branch offices
    • 5.4 Trade Practices (6 Items) / Licensee responsibilities (Reporting information to the Department of Banking and Insurance) / Change of address including email
    • 5.4 Trade Practices (6 Items) / Licensee responsibilities (Reporting information to the Department of Banking and Insurance) / Standards of conduct
    • 5.4 Trade Practices (6 Items) / Licensee responsibilities (Reporting information to the Department of Banking and Insurance) / Fraud
    • 5.4 Trade Practices (6 Items) / Licensee responsibilities (Reporting information to the Department of Banking and Insurance) / Information Privacy
    • 5.5 Guaranty Associations
    • 5.6 Ethics
  • 6.0. New Jersey Laws, Rules, and Regulations Pertinent to Life and Regulations (8 Items)
    • Credit Life
    • Group Life
    • Marketing Methods and Practices
    • Marketing Methods and Practices / Replacement
    • Marketing Methods and Practices / Disclosures
    • Marketing Methods and Practices / Advertising
    • Marketing Methods and Practices / Twisting
    • The Insurance Contract
    • Suitability of Annuities and Life Products
    • Appropriate Use of Business Title or Designation when marketing life and annuity products
Examination sources

Related license preparation

This examination may be required or accepted as an alternative, depending on the license and application pathway.