New Jersey Accident and Health State |\ |\ |\ |\ |\ |\
Exam – Numbers – QUESTIONS WITH |\ |\ |\ |\ |\ |\
ANSWERS
A 10% excise tax is normally applied to an early withdraw from an
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
IRA. According to HIPAA, this tax will not be applied if the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
withdrawal is used for medical expenses that exceed _____ of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
individual's adjusted gross income. - CORRECT ANSWERS ✔✔7.5%
|\ |\ |\ |\ |\ |\ |\
Nina just passed her New Jersey insurance licensing examination.
|\ |\ |\ |\ |\ |\ |\ |\ |\
She is REQUIRED to apply for a producer's license within _____
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
months. - CORRECT ANSWERS ✔✔12 |\ |\ |\ |\
Which of the following is present when an applicant stands to lose
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
value if the insured dies? - CORRECT ANSWERS ✔✔Insurable
|\ |\ |\ |\ |\ |\ |\ |\ |\
Interest
An agent is a(n) - CORRECT ANSWERS ✔✔licensed producer who
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
has a written contract to represent an insurer
|\ |\ |\ |\ |\ |\ |\
Credit Accident and Health plans are designed to - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔help pay off existing loans during periods of |\ |\ |\ |\ |\ |\ |\ |\ |\
disability
, Which of the following is NOT a required provision in an accident
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
and health insurance policy? - CORRECT ANSWERS ✔✔Change of
|\ |\ |\ |\ |\ |\ |\ |\
occupation
|\
What is a Self-funded plan? - CORRECT ANSWERS ✔✔The
|\ |\ |\ |\ |\ |\ |\ |\ |\
employer assumes the financial risk for providing health care
|\ |\ |\ |\ |\ |\ |\ |\ |\
benefits to its employees |\ |\ |\
Long-Term Care policies may provide coverage for claims arising
|\ |\ |\ |\ |\ |\ |\ |\ |\
from - CORRECT ANSWERS ✔✔Senile dementia and organic
|\ |\ |\ |\ |\ |\ |\ |\
mental disorders |\
Ken is a producer who has obtained Consumer Information Reports
|\ |\ |\ |\ |\ |\ |\ |\ |\
under false pretenses. Under the FAIR CREDIT REPORTING ACT,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
what is the MAXIMUM penalty that may be imposed on Ken? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔$5,000 |\ |\
When replacing group insurance, the replacing policy must cover
|\ |\ |\ |\ |\ |\ |\ |\ |\
ongoing claims from the former policies - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔No loss no gain law |\ |\ |\ |\
Exam – Numbers – QUESTIONS WITH |\ |\ |\ |\ |\ |\
ANSWERS
A 10% excise tax is normally applied to an early withdraw from an
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
IRA. According to HIPAA, this tax will not be applied if the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
withdrawal is used for medical expenses that exceed _____ of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
individual's adjusted gross income. - CORRECT ANSWERS ✔✔7.5%
|\ |\ |\ |\ |\ |\ |\
Nina just passed her New Jersey insurance licensing examination.
|\ |\ |\ |\ |\ |\ |\ |\ |\
She is REQUIRED to apply for a producer's license within _____
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
months. - CORRECT ANSWERS ✔✔12 |\ |\ |\ |\
Which of the following is present when an applicant stands to lose
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
value if the insured dies? - CORRECT ANSWERS ✔✔Insurable
|\ |\ |\ |\ |\ |\ |\ |\ |\
Interest
An agent is a(n) - CORRECT ANSWERS ✔✔licensed producer who
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
has a written contract to represent an insurer
|\ |\ |\ |\ |\ |\ |\
Credit Accident and Health plans are designed to - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔help pay off existing loans during periods of |\ |\ |\ |\ |\ |\ |\ |\ |\
disability
, Which of the following is NOT a required provision in an accident
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
and health insurance policy? - CORRECT ANSWERS ✔✔Change of
|\ |\ |\ |\ |\ |\ |\ |\
occupation
|\
What is a Self-funded plan? - CORRECT ANSWERS ✔✔The
|\ |\ |\ |\ |\ |\ |\ |\ |\
employer assumes the financial risk for providing health care
|\ |\ |\ |\ |\ |\ |\ |\ |\
benefits to its employees |\ |\ |\
Long-Term Care policies may provide coverage for claims arising
|\ |\ |\ |\ |\ |\ |\ |\ |\
from - CORRECT ANSWERS ✔✔Senile dementia and organic
|\ |\ |\ |\ |\ |\ |\ |\
mental disorders |\
Ken is a producer who has obtained Consumer Information Reports
|\ |\ |\ |\ |\ |\ |\ |\ |\
under false pretenses. Under the FAIR CREDIT REPORTING ACT,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
what is the MAXIMUM penalty that may be imposed on Ken? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔$5,000 |\ |\
When replacing group insurance, the replacing policy must cover
|\ |\ |\ |\ |\ |\ |\ |\ |\
ongoing claims from the former policies - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔No loss no gain law |\ |\ |\ |\
