NJ Health and Accident EXAM
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QUESTIONS WITH ANSWERS |\ |\
In what form do disability income policies typically pay benefits -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Periodic income |\ |\ |\
The Mandatory health policy provision states that the policy,
|\ |\ |\ |\ |\ |\ |\ |\ |\
including endorsements and attached papers, constitutes -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔The entire insurance contract between
|\ |\ |\ |\ |\ |\ |\
the parties
|\
The entire contract includes the actual policy and the - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔application |\
employer sponsored group health insurance provides coverage for
|\ |\ |\ |\ |\ |\ |\ |\
which of the following - CORRECT ANSWERS ✔✔Alcoholism
|\ |\ |\ |\ |\ |\ |\
The term which describes the fact that both parties of a contract
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
may not receive the same value is referred to as - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Aleatory |\
,Tom has a home health care benefit and is confined to his home.
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Which of these is NOT typically covered - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Full-time nursing care |\ |\
A Medicare Supplement policy can be cancelled by the insurer for -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Nonpayment |\ |\
Credit Accident and Health plans are designed to - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔help pay off existing loans during periods of
|\ |\ |\ |\ |\ |\ |\ |\ |\
disability
A payment system for health care in which the provider is paid for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
each service given is called - CORRECT ANSWERS ✔✔fee-for-
|\ |\ |\ |\ |\ |\ |\ |\
service
An insurance company ONLY pay a sales commission to -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔individuals licensed by the state
|\ |\ |\ |\ |\ |\
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 ✔✔$5000 and 1 year imprisonment |\ |\ |\ |\ |\
, A closed network plan offers a primary physician copay of $25. If a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
subscriber chooses a primary care physician outside of the network,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the subscriber will likely pay - CORRECT ANSWERS ✔✔100% of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the billed amount
|\ |\
What is the maximum fine for a producer violating an NJ insurance
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
law for the first time? - CORRECT ANSWERS ✔✔$5000
|\ |\ |\ |\ |\ |\ |\ |\ |\
A licensed producer is required to file notice to any changes of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
address within how many days - CORRECT ANSWERS ✔✔30 days
|\ |\ |\ |\ |\ |\ |\ |\ |\
Jonas has disability insurance through his employer. The employer
|\ |\ |\ |\ |\ |\ |\ |\ |\
pays 75% of the premium, and Jonas pays the other 25%. What is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Jonas's tax liability for any benefits paid from the disability plan? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Taxes must be paid on 75% of the |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
benefits received |\
After an insured gives notice of loss, what must he/she do if the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurer does not furnish forms? - CORRECT ANSWERS ✔✔File
|\ |\ |\ |\ |\ |\ |\ |\ |\
written proof of loss |\ |\ |\
Which of the following is an example of the insured's consideration?
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔A paid premium
|\ |\ |\ |\ |\ |\
|\ |\ |\ |\ |\
QUESTIONS WITH ANSWERS |\ |\
In what form do disability income policies typically pay benefits -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Periodic income |\ |\ |\
The Mandatory health policy provision states that the policy,
|\ |\ |\ |\ |\ |\ |\ |\ |\
including endorsements and attached papers, constitutes -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔The entire insurance contract between
|\ |\ |\ |\ |\ |\ |\
the parties
|\
The entire contract includes the actual policy and the - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔application |\
employer sponsored group health insurance provides coverage for
|\ |\ |\ |\ |\ |\ |\ |\
which of the following - CORRECT ANSWERS ✔✔Alcoholism
|\ |\ |\ |\ |\ |\ |\
The term which describes the fact that both parties of a contract
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
may not receive the same value is referred to as - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Aleatory |\
,Tom has a home health care benefit and is confined to his home.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Which of these is NOT typically covered - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Full-time nursing care |\ |\
A Medicare Supplement policy can be cancelled by the insurer for -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Nonpayment |\ |\
Credit Accident and Health plans are designed to - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔help pay off existing loans during periods of
|\ |\ |\ |\ |\ |\ |\ |\ |\
disability
A payment system for health care in which the provider is paid for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
each service given is called - CORRECT ANSWERS ✔✔fee-for-
|\ |\ |\ |\ |\ |\ |\ |\
service
An insurance company ONLY pay a sales commission to -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔individuals licensed by the state
|\ |\ |\ |\ |\ |\
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 ✔✔$5000 and 1 year imprisonment |\ |\ |\ |\ |\
, A closed network plan offers a primary physician copay of $25. If a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
subscriber chooses a primary care physician outside of the network,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the subscriber will likely pay - CORRECT ANSWERS ✔✔100% of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the billed amount
|\ |\
What is the maximum fine for a producer violating an NJ insurance
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
law for the first time? - CORRECT ANSWERS ✔✔$5000
|\ |\ |\ |\ |\ |\ |\ |\ |\
A licensed producer is required to file notice to any changes of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
address within how many days - CORRECT ANSWERS ✔✔30 days
|\ |\ |\ |\ |\ |\ |\ |\ |\
Jonas has disability insurance through his employer. The employer
|\ |\ |\ |\ |\ |\ |\ |\ |\
pays 75% of the premium, and Jonas pays the other 25%. What is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Jonas's tax liability for any benefits paid from the disability plan? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Taxes must be paid on 75% of the |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
benefits received |\
After an insured gives notice of loss, what must he/she do if the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurer does not furnish forms? - CORRECT ANSWERS ✔✔File
|\ |\ |\ |\ |\ |\ |\ |\ |\
written proof of loss |\ |\ |\
Which of the following is an example of the insured's consideration?
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔A paid premium
|\ |\ |\ |\ |\ |\
