New Jersey Life And Health Final Exam
Questions And Correct Answers
Which type of long-term care benefit would be most appropriate for a stroke victim
who requires speech therapy administered at her home?
Home health care
Which of the following is NOT a federal requirement of a qualified plan?
Employee must be able to make unlimited contributions
Why are dividends from a mutual insurer not subject to taxation?
Because dividends are considered to be a return of premium
The treasurer of XYZ Insurance Company discovers that the treasurer's company is
being investigated by the Banking and Insurance Commissioner...
Making false financial statements
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies?
Payor benefit
,Which of these premium payment frequencies is not typically available to a policy
owner?
Bi-weekly
Maria the agent would like to advertise an annuity product on a highway billboard.
Which of the following must be included in the advertisement?
Her name
Which disability policy provision would address any concerns of the value of the
benefits decreasing over time?
Cost of living benefit
Which of these is NOT a characteristic of the Accelerated Death Benefit option?
The benefit can be offered as a rider at a specific extra cost or may be at no cost
All of the following are included as part of a contract in the entire contract provision
EXCEPT the
Changes made by the producer
,The power given to an individual producer that is not specifically addressed in his/her
contract is considered what type of authority?
Implied
Pat is insured with a life insurance policy and Karen is his primary beneficiary. They
are both involved in an automobile accident where Pat dies instantly and Karen dies 5
days later...
Common disaster clause
Key Person Disability Insurance pays benefits to the
Employer
Under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental?
Accidental bodily injury provision
What will the beneficiary receive if an annuitant dies during the accumulation period?
The greater of the accumulated cash value or the total premium paid
, Written notice for a health claim must be given to the insurer ___ days after the
occurrence of the loss.
20
Craig submits a $500 claim for medical expenses. With a past due premium of $100,
the insurer pays $400. Which of the Uniform Optional Provisions covers this situation?
Unpaid premium
How many employees must an employer have for a terminated employee to be
eligible for COBRA?
20
A licensed producer is required to file notice of any change of address within how
many days?
30
Advertising material for a life insurance policy does NOT need to contain which of the
following?
Agent's commission rate
Questions And Correct Answers
Which type of long-term care benefit would be most appropriate for a stroke victim
who requires speech therapy administered at her home?
Home health care
Which of the following is NOT a federal requirement of a qualified plan?
Employee must be able to make unlimited contributions
Why are dividends from a mutual insurer not subject to taxation?
Because dividends are considered to be a return of premium
The treasurer of XYZ Insurance Company discovers that the treasurer's company is
being investigated by the Banking and Insurance Commissioner...
Making false financial statements
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies?
Payor benefit
,Which of these premium payment frequencies is not typically available to a policy
owner?
Bi-weekly
Maria the agent would like to advertise an annuity product on a highway billboard.
Which of the following must be included in the advertisement?
Her name
Which disability policy provision would address any concerns of the value of the
benefits decreasing over time?
Cost of living benefit
Which of these is NOT a characteristic of the Accelerated Death Benefit option?
The benefit can be offered as a rider at a specific extra cost or may be at no cost
All of the following are included as part of a contract in the entire contract provision
EXCEPT the
Changes made by the producer
,The power given to an individual producer that is not specifically addressed in his/her
contract is considered what type of authority?
Implied
Pat is insured with a life insurance policy and Karen is his primary beneficiary. They
are both involved in an automobile accident where Pat dies instantly and Karen dies 5
days later...
Common disaster clause
Key Person Disability Insurance pays benefits to the
Employer
Under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental?
Accidental bodily injury provision
What will the beneficiary receive if an annuitant dies during the accumulation period?
The greater of the accumulated cash value or the total premium paid
, Written notice for a health claim must be given to the insurer ___ days after the
occurrence of the loss.
20
Craig submits a $500 claim for medical expenses. With a past due premium of $100,
the insurer pays $400. Which of the Uniform Optional Provisions covers this situation?
Unpaid premium
How many employees must an employer have for a terminated employee to be
eligible for COBRA?
20
A licensed producer is required to file notice of any change of address within how
many days?
30
Advertising material for a life insurance policy does NOT need to contain which of the
following?
Agent's commission rate
