NJ ACCIDENT AND HEALTH INSURANCE FINAL
EXAM FINAL PAPER 2026 TESTED QUESTIONS
WITH FULL SOLUTION GRADED A+
INSURERS MUST PAY LUMP SUM CLAIMS IMMEDIATELY AFTER
RECEIVING PROOF OF LOSS
◉ What does coinsurance mean?
- a policy covers the insured and the any additional named persons
-the insurer and the insured share expenses over the deductible
-the insurer and the insured share ALL expenses
-the policy owner holds multiple policies through the same insurer.
Answer: The insurer and the insured share expenses over the
deductible
COINSURANCE IS THE SHARING BETWEEN THE INSURER AND THE
INSURED OF COVERED EXPENSES THAT EXCEED THE DEDUCTIBLE
AMOUNT. THE SHARING ENDS WHEN THE "STOP LOSS LIMIT" IS
REACHED
◉ The life insurance policy will not be truly effect until all of the
following occur EXCEPT:
-the statement of good health is obtained by the insurer
,-the first premium is collected
-the policy is delivered to the applicant
-the producer has explained the policy to the client. Answer: -the
producer has explained the policy to the client
EFFECTIVE DATE BASED ON :
-APP DATE
-IF PREMIUM HAS BEEN PAID
-IF A STATEMENT OF GOOD HEALTH MUST BE OBTAINED IF
PREMIUM WAS NOT SUBMITTED WITH APPLICATION
◉ Which of the following coverage types pays a monthly cash benefit
following the elimination period for total disability due to accident
or sickness?
-credit disability
-works comp disability
-recurrent disability
-disability income. Answer: -disability income insurance
PROVIDES PAYMENT OF REGULAR PERIODIC INCOME SHOULD THE
INSURED BECOME DISABLED FROM ILLNESS OR INJURY
, ◉ The period beginning at the time of an insured loss that an
insured must wait before benefits are payable is called the:
-probationary period
-benefit period
-elimination period
-grace period. Answer: -elimination period
THE TIME PERIOD STARTING AT THE TIME OF LOSS, SUCH AS A
DISABILITY, THAT AN INSURED MUST WAIT BEFORE BENEFITS
ARE PAYABLE
◉ Managed care plans increase efficiency by all of the following
EXCEPT:
-transferring the management of costs to the insureds
-controlling inpatient admissions and length of stay
-increasing beneficiary cost sharing
-selectively contracting with health care providers. Answer: -
transferring the management of costs to the insureds
MANAGED CARE PLANS ARE DESIGNED TO USE COST SAVING
SERVICES BY USING CLOSED NETWORKS AND MANAGING HEALTH
CARE WITH THESE NETWORKS
EXAM FINAL PAPER 2026 TESTED QUESTIONS
WITH FULL SOLUTION GRADED A+
INSURERS MUST PAY LUMP SUM CLAIMS IMMEDIATELY AFTER
RECEIVING PROOF OF LOSS
◉ What does coinsurance mean?
- a policy covers the insured and the any additional named persons
-the insurer and the insured share expenses over the deductible
-the insurer and the insured share ALL expenses
-the policy owner holds multiple policies through the same insurer.
Answer: The insurer and the insured share expenses over the
deductible
COINSURANCE IS THE SHARING BETWEEN THE INSURER AND THE
INSURED OF COVERED EXPENSES THAT EXCEED THE DEDUCTIBLE
AMOUNT. THE SHARING ENDS WHEN THE "STOP LOSS LIMIT" IS
REACHED
◉ The life insurance policy will not be truly effect until all of the
following occur EXCEPT:
-the statement of good health is obtained by the insurer
,-the first premium is collected
-the policy is delivered to the applicant
-the producer has explained the policy to the client. Answer: -the
producer has explained the policy to the client
EFFECTIVE DATE BASED ON :
-APP DATE
-IF PREMIUM HAS BEEN PAID
-IF A STATEMENT OF GOOD HEALTH MUST BE OBTAINED IF
PREMIUM WAS NOT SUBMITTED WITH APPLICATION
◉ Which of the following coverage types pays a monthly cash benefit
following the elimination period for total disability due to accident
or sickness?
-credit disability
-works comp disability
-recurrent disability
-disability income. Answer: -disability income insurance
PROVIDES PAYMENT OF REGULAR PERIODIC INCOME SHOULD THE
INSURED BECOME DISABLED FROM ILLNESS OR INJURY
, ◉ The period beginning at the time of an insured loss that an
insured must wait before benefits are payable is called the:
-probationary period
-benefit period
-elimination period
-grace period. Answer: -elimination period
THE TIME PERIOD STARTING AT THE TIME OF LOSS, SUCH AS A
DISABILITY, THAT AN INSURED MUST WAIT BEFORE BENEFITS
ARE PAYABLE
◉ Managed care plans increase efficiency by all of the following
EXCEPT:
-transferring the management of costs to the insureds
-controlling inpatient admissions and length of stay
-increasing beneficiary cost sharing
-selectively contracting with health care providers. Answer: -
transferring the management of costs to the insureds
MANAGED CARE PLANS ARE DESIGNED TO USE COST SAVING
SERVICES BY USING CLOSED NETWORKS AND MANAGING HEALTH
CARE WITH THESE NETWORKS
