NJ Accident and Health State Exam WITH ANSWERS

NJ Accident and Health State Exam WITH
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ANSWERS


With written proof of loss, how many days to file the claim?
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How many days before the insured can bring legal action against
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the insurer? - CORRECT ANSWERS ✔✔90 days
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60 days
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No contract is in force until ______ is paid? - CORRECT ANSWERS
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✔✔Initial premium
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In Key Employee Disability Policy, if the business pays the premium
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as a tax-deductible expense, any benefits paid are ______? -
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CORRECT ANSWERS ✔✔Fully taxable |\ |\ |\




Policies that pay higher benefits, command ______ ? - CORRECT
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ANSWERS ✔✔Higher premiums |\ |\




One of the main responsibilities of an underwriter is to protect the
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insurer against ______? - CORRECT ANSWERS ✔✔Adverse
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selection

, Insurers issue preferred risk policies with reduced premiums with
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the expectation of ______? - CORRECT ANSWERS ✔✔Better than
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normal mortality or morbidity experience
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Monitoring the insured's hospital stay to ensure everything is going
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according to schedule and that the insured will be released as
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planned is called ______? - CORRECT ANSWERS ✔✔Concurrent
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review


HIPAA provides that the 10% excise of tax for early withdrawal from
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IRAs will not apply to the extent a withdrawal is used for medical
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expenses that exceed ______ of the individual's adjusted gross
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income. - CORRECT ANSWERS ✔✔7.5%
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One of the most important considerations in replacing medical
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insurance is ______? - CORRECT ANSWERS ✔✔Exclusions or
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limitations on a new policy |\ |\ |\ |\




Upon policy delivery, if no initial payment is collected with the
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application, the producer must request ______? - CORRECT |\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔The applicant to sign a Statement of Good Health
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