NOTES TO FINANCIAL STATEMENTS
1. Significant Accounting Policies:
MuniYield New Jersey Insured Fund, Inc. (the "Fund") is registered under the Investment Company Act of 1940
as a non-diversified, closed-end management investment company. The Fund's financial statements are prepared
in accordance with generally accepted accounting principles which may require the use of management accruals
and estimates. These unaudited financial statements reflect all adjustments which are, in the opinion of
management, necessary to a fair statement of the results for the interim period presented. All such adjustments are
of a normal recurring nature. The Fund determines and makes available for publication the net asset value of its
Common Stock on a weekly basis. The Fund's Common Stock is listed on the New York Stock Exchange
under the symbol MJI. The following is a summary of significant accounting policies followed by the Fund.
(a) Valuation of investments--Municipal bonds are traded primarily in the over-the-counter markets and are
valued at the most recent bid price or yield equivalent as obtained by the Fund's pricing service from dealers that
make markets in such securities. Financial futures contracts and options thereon, which are traded on exchanges,
are valued at their closing prices as of the close of such exchanges. Options written or purchased are valued at
the last sale price in the case of exchange-traded options. In the case of options traded in the over-the-counter
market, valuation is the last asked price (options written) or the last bid price (options purchased). Securities with
remaining maturities of sixty days or less are valued at amortized cost, which approximates market value.
Securities and assets for which market quotations are not readily available are valued at fair value as determined
in good faith by or under the direction of the Board of Directors of the Fund, including valuations furnished by a
pricing service retained by the Fund, which may utilize a matrix system for val