EXAM - NEW JERSEY: GENERAL, LIFE,
AND HEALTH LAWS | QUESTIONS &
ANSWERS (VERIFIED) | LATEST
UPDATE | GRADED A+
PR
*How long MUST an insurance company keep records on life insurance replacement
O
activity?*
FD
A. At least 4 yrs
B. At least 5 yrs
C. At least 6 yrs
O
D. At least 7 yrs
C
Correct Answer: *B) at least 5 yrs*
*A Medicare supplement policy CANNOT deny or limit coverage for a claim for losses
incurred MORE than how many months from the effective date of coverage?*
A. 24
B. 6
1
,C. 9
D. 12
Correct Answer: *B) 6*
*Individual health insurance policies MUST provide all of the following benefits for the
treatment of alcoholism EXCEPT:*
PR
A. Treatment at a detoxification facility.
B. Confinement as an inpatient at a licensed residential treatment facility.
C. Limited hospital policy benefits.
O
D. Inpatient care in a hospital for alcoholism.
FD
Correct Answer: *C. Limited hospital policy benefits*
*How long is the free-look period with a Medicare supplement policy?*
O
A. 10 days
C
B. 15 days
C. 20 days
D. 30 days
Correct Answer: *D. 30 days*
*A producer or insurer who violates the solicitation regulations can be ordered to pay a
fine for each violation of up to:*
2
,A. $2,000.
B. $3,000.
C. $5,000.
D. $1,000.
Correct Answer: *A. $2,000*
PR
*Who is responsible for advertisements?*
Correct Answer: *Insurer*
O
*Notice of Claim MUST be given to the insured within how many days of the occurrence
FD
of ANY loss covered?*
Correct Answer: *20 days*
O
*NO legal action will be brought upon AFTER the expiration of how MANY years after
the time the written proof of loss is required:*
C
Correct Answer: *3 years*
*What is the MINIMUM number of home health care visits per year?*
Correct Answer: *60*
*You MUST remit the payment for every insured claim submitted by a covered person
NO later than how many days?*
3
, Correct Answer: *30*
*Who is Medicare for?*
Correct Answer: *Must be 65*
*What MUST you have when submitting a Medicare case?*
Correct Answer: *An outline of coverage*
PR
*What is the NJ TEMPORARY DISABILITY LAW?*
Correct Answer: *A mandatory disability program designed to protect employees
O
covered under the NJ unemployment compensation law*
FD
*When REPLACING a GROUP plan...*
Correct Answer: *You MUST provide coverage to ALL eligible insureds covered by
O
the EXISTING plan.*
C
*The Commissioner MUST give notice at LEAST ____ days BEFORE a hearing for
UNFAIR TRADE PRACTICES.*
Correct Answer: *10 days*
*What is the MAXIMUM fine for each VIOLATIONS committed UNKNOWINGLY?*
(PENALTIES for UNFAIR COMPLETION, ACT or PRACTICE)
Correct Answer: *$1000*
4
AND HEALTH LAWS | QUESTIONS &
ANSWERS (VERIFIED) | LATEST
UPDATE | GRADED A+
PR
*How long MUST an insurance company keep records on life insurance replacement
O
activity?*
FD
A. At least 4 yrs
B. At least 5 yrs
C. At least 6 yrs
O
D. At least 7 yrs
C
Correct Answer: *B) at least 5 yrs*
*A Medicare supplement policy CANNOT deny or limit coverage for a claim for losses
incurred MORE than how many months from the effective date of coverage?*
A. 24
B. 6
1
,C. 9
D. 12
Correct Answer: *B) 6*
*Individual health insurance policies MUST provide all of the following benefits for the
treatment of alcoholism EXCEPT:*
PR
A. Treatment at a detoxification facility.
B. Confinement as an inpatient at a licensed residential treatment facility.
C. Limited hospital policy benefits.
O
D. Inpatient care in a hospital for alcoholism.
FD
Correct Answer: *C. Limited hospital policy benefits*
*How long is the free-look period with a Medicare supplement policy?*
O
A. 10 days
C
B. 15 days
C. 20 days
D. 30 days
Correct Answer: *D. 30 days*
*A producer or insurer who violates the solicitation regulations can be ordered to pay a
fine for each violation of up to:*
2
,A. $2,000.
B. $3,000.
C. $5,000.
D. $1,000.
Correct Answer: *A. $2,000*
PR
*Who is responsible for advertisements?*
Correct Answer: *Insurer*
O
*Notice of Claim MUST be given to the insured within how many days of the occurrence
FD
of ANY loss covered?*
Correct Answer: *20 days*
O
*NO legal action will be brought upon AFTER the expiration of how MANY years after
the time the written proof of loss is required:*
C
Correct Answer: *3 years*
*What is the MINIMUM number of home health care visits per year?*
Correct Answer: *60*
*You MUST remit the payment for every insured claim submitted by a covered person
NO later than how many days?*
3
, Correct Answer: *30*
*Who is Medicare for?*
Correct Answer: *Must be 65*
*What MUST you have when submitting a Medicare case?*
Correct Answer: *An outline of coverage*
PR
*What is the NJ TEMPORARY DISABILITY LAW?*
Correct Answer: *A mandatory disability program designed to protect employees
O
covered under the NJ unemployment compensation law*
FD
*When REPLACING a GROUP plan...*
Correct Answer: *You MUST provide coverage to ALL eligible insureds covered by
O
the EXISTING plan.*
C
*The Commissioner MUST give notice at LEAST ____ days BEFORE a hearing for
UNFAIR TRADE PRACTICES.*
Correct Answer: *10 days*
*What is the MAXIMUM fine for each VIOLATIONS committed UNKNOWINGLY?*
(PENALTIES for UNFAIR COMPLETION, ACT or PRACTICE)
Correct Answer: *$1000*
4
