NJ Insurance Practice Exams + Review Notes
Exam with 100% Correct Answers | Verified |
Latest Update 2026
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Terms in this set (130)
What are the elements of a legal Agreement, Consideration, Competent parties,
contract? Legal purpose
What types of groups are eligible Employer-sponsored and association-
for group health insurance? sponsored groups
What is the relative value A surgical procedure is assigned points relative
approach? to the maximum coverage allowed for a given
surgery.
What is a conversion factor in The amount payable per point in the relative
insurance? value approach.
What is the tax penalty for 20%
unqualified distributions from a
medical savings account?
What is first dollar coverage? Insurance where the insured is not required to
pay a deductible.
, What is a Medicare select policy? A policy that requires insureds to use specific
healthcare providers except in emergencies.
What does subrogation mean in A provision that prevents the insured from
insurance? collecting twice for the same loss.
What is the national do not call A federal service that allows people to list their
list? numbers to reduce unsolicited telemarketing
calls.
What are the allowed 8 AM to 9 PM
telemarketing call hours?
What do the terms level and They refer to the premium.
flexible refer to in insurance?
What is rebating in insurance? Offering something of value to induce
someone to buy something.
What are nonforfeiture benefits? Benefits in a life insurance policy that the
policyowner cannot lose.
What is twisting in insurance? Misrepresentation or fraudulent comparison of
insurance policies that persuades an applicant
to switch insurers.
What was the ruling in Paul vs. Insurance was not commerce and not subject
Virginia (1869)? to federal regulation.!
Exam with 100% Correct Answers | Verified |
Latest Update 2026
Save
Terms in this set (130)
What are the elements of a legal Agreement, Consideration, Competent parties,
contract? Legal purpose
What types of groups are eligible Employer-sponsored and association-
for group health insurance? sponsored groups
What is the relative value A surgical procedure is assigned points relative
approach? to the maximum coverage allowed for a given
surgery.
What is a conversion factor in The amount payable per point in the relative
insurance? value approach.
What is the tax penalty for 20%
unqualified distributions from a
medical savings account?
What is first dollar coverage? Insurance where the insured is not required to
pay a deductible.
, What is a Medicare select policy? A policy that requires insureds to use specific
healthcare providers except in emergencies.
What does subrogation mean in A provision that prevents the insured from
insurance? collecting twice for the same loss.
What is the national do not call A federal service that allows people to list their
list? numbers to reduce unsolicited telemarketing
calls.
What are the allowed 8 AM to 9 PM
telemarketing call hours?
What do the terms level and They refer to the premium.
flexible refer to in insurance?
What is rebating in insurance? Offering something of value to induce
someone to buy something.
What are nonforfeiture benefits? Benefits in a life insurance policy that the
policyowner cannot lose.
What is twisting in insurance? Misrepresentation or fraudulent comparison of
insurance policies that persuades an applicant
to switch insurers.
What was the ruling in Paul vs. Insurance was not commerce and not subject
Virginia (1869)? to federal regulation.!
