NJ Health and Accident Updated
Questions and Answers (2026/2027) |
Practice Review | A+ Verified
• The Mandatory health policy provision states that the policy, including
endorsements and attached papers, constitutes - ✓✓The entire insurance contract
between the parties
• The entire contract includes the actual policy and the - ✓✓application
• employer sponsored group health insurance provides coverage for which of the
following - ✓✓Alcoholism
• The term which describes the fact that both parties of a contract may not receive
the same value is referred to as - ✓✓Aleatory
• Tom has a home health care benefit and is confined to his home. Which of these
is NOT typically covered - ✓✓Full-time nursing care
• A Medicare Supplement policy can be cancelled by the insurer for -
✓✓Nonpayment
• Credit Accident and Health plans are designed to - ✓✓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 - ✓✓fee-for-service
• An insurance company ONLY pay a sales commission to - ✓✓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? - ✓✓$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 - ✓✓100% of the billed amount
• What is the maximum fine for a producer violating an NJ insurance law for the
first time? - ✓✓$5000
• A licensed producer is required to file notice to any changes of address within
how many days - ✓✓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? - ✓✓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? - ✓✓File written proof of loss
• Which of the following is an example of the insured's consideration? - ✓✓A paid
premium
• A(n) _______ insurance company is one that was formed under the laws of a
state other than NJ - ✓✓Foreign
• Kathy pays a monthly premium on her health insurance policy. How long is her
grace period? - ✓✓10 days
• Insurance licenses are intended to be issued for the purpose of authorizing the
transaction of business with members of the general public and not primarily
allowing someone to benefit from commissions on business that insurers their
personal interest. The description of which of the following? - ✓✓Controlled
business
• A master contract and certified coverage can be found in which type of policy? -
✓✓Group
• Medicaid is a government-funded program designed to provide health care to -
✓✓poor people
Questions and Answers (2026/2027) |
Practice Review | A+ Verified
• The Mandatory health policy provision states that the policy, including
endorsements and attached papers, constitutes - ✓✓The entire insurance contract
between the parties
• The entire contract includes the actual policy and the - ✓✓application
• employer sponsored group health insurance provides coverage for which of the
following - ✓✓Alcoholism
• The term which describes the fact that both parties of a contract may not receive
the same value is referred to as - ✓✓Aleatory
• Tom has a home health care benefit and is confined to his home. Which of these
is NOT typically covered - ✓✓Full-time nursing care
• A Medicare Supplement policy can be cancelled by the insurer for -
✓✓Nonpayment
• Credit Accident and Health plans are designed to - ✓✓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 - ✓✓fee-for-service
• An insurance company ONLY pay a sales commission to - ✓✓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? - ✓✓$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 - ✓✓100% of the billed amount
• What is the maximum fine for a producer violating an NJ insurance law for the
first time? - ✓✓$5000
• A licensed producer is required to file notice to any changes of address within
how many days - ✓✓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? - ✓✓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? - ✓✓File written proof of loss
• Which of the following is an example of the insured's consideration? - ✓✓A paid
premium
• A(n) _______ insurance company is one that was formed under the laws of a
state other than NJ - ✓✓Foreign
• Kathy pays a monthly premium on her health insurance policy. How long is her
grace period? - ✓✓10 days
• Insurance licenses are intended to be issued for the purpose of authorizing the
transaction of business with members of the general public and not primarily
allowing someone to benefit from commissions on business that insurers their
personal interest. The description of which of the following? - ✓✓Controlled
business
• A master contract and certified coverage can be found in which type of policy? -
✓✓Group
• Medicaid is a government-funded program designed to provide health care to -
✓✓poor people
