NJ Health and Accident insurance actual exam 2024-
2025 Questions and 100% correct Answers / NJ
Health and Accident exam 2024 with 300+ Questions
and Answers
In what form do disability income policies typically pay benefits - ANSWER-
Periodic income
The Mandatory health policy provision states that the policy, including
endorsements and attached papers, constitutes - ANSWER-The entire insurance
contract between the parties
The entire contract includes the actual policy and the - ANSWER-application
employer sponsored group health insurance provides coverage for which of the
following - ANSWER-Alcoholism
The term which describes the fact that both parties of a contract may not receive
the same value is referred to as - ANSWER-Aleatory
Tom has a home health care benefit and is confined to his home. Which of these is
NOT typically covered - ANSWER-Full-time nursing care
A Medicare Supplement policy can be cancelled by the insurer for - ANSWER-
Nonpayment
Credit Accident and Health plans are designed to - ANSWER-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 - ANSWER-fee-for-service
An insurance company ONLY pay a sales commission to - ANSWER-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? - ANSWER-$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 - ANSWER-100% of the billed amount
What is the maximum fine for a producer violating an NJ insurance law for the
first time? - ANSWER-$5000
A licensed producer is required to file notice to any changes of address within how
many days - ANSWER-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? - ANSWER-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? - ANSWER-File written proof of loss
,Which of the following is an example of the insured's consideration? - ANSWER-
A paid premium
A(n) _______ insurance company is one that was formed under the laws of a state
other than NJ - ANSWER-Foreign
Kathy pays a monthly premium on her health insurance policy. How long is her
grace period? - ANSWER-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? - ANSWER-
Controlled business
A master contract and certified coverage can be found in which type of policy? -
ANSWER-Group
Medicaid is a government-funded program designed to provide health care to -
ANSWER-poor people
Which type of long-term care benefit would be most appropriate for a stroke victim
who requires speech therapy administered at her home? - ANSWER-Home Health
Care
What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of
1985 allow an employee to do? - ANSWER-In the event of employment
termination, group health insurance can be kept if the employee pays the premiums
, Replacement regulation is designed to protect the interests of - ANSWER-Policy
owners
Continued coverage under COBRA would be provided to all of the following
except? - ANSWER-a covered employee is terminated for gross misconduct
A health insurer must be provided with written proof of loss ______ days after the
date of loss - ANSWER-90 days
All of the following are factors would affect a health insurance policies premium
rate Except - ANSWER-Residential address of the insured
Which of the following is NOT a required provision in an accident and health
insurance policy? - ANSWER-Change of occupation (considered optional
provision)
Within how many days must a producer notify the Department of Banking and
Insurance of a change in address? - ANSWER-30 days
When comparing an HMO, to a PPO, the PPO - ANSWER-provides a greater
choice of providers
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a
terminated employee's benefits must - ANSWER-be the same and the premium
cannot exceed 102%
An agent is required to keep replacement forms on file for at LEAST ______
years. - ANSWER-5 years
2025 Questions and 100% correct Answers / NJ
Health and Accident exam 2024 with 300+ Questions
and Answers
In what form do disability income policies typically pay benefits - ANSWER-
Periodic income
The Mandatory health policy provision states that the policy, including
endorsements and attached papers, constitutes - ANSWER-The entire insurance
contract between the parties
The entire contract includes the actual policy and the - ANSWER-application
employer sponsored group health insurance provides coverage for which of the
following - ANSWER-Alcoholism
The term which describes the fact that both parties of a contract may not receive
the same value is referred to as - ANSWER-Aleatory
Tom has a home health care benefit and is confined to his home. Which of these is
NOT typically covered - ANSWER-Full-time nursing care
A Medicare Supplement policy can be cancelled by the insurer for - ANSWER-
Nonpayment
Credit Accident and Health plans are designed to - ANSWER-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 - ANSWER-fee-for-service
An insurance company ONLY pay a sales commission to - ANSWER-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? - ANSWER-$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 - ANSWER-100% of the billed amount
What is the maximum fine for a producer violating an NJ insurance law for the
first time? - ANSWER-$5000
A licensed producer is required to file notice to any changes of address within how
many days - ANSWER-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? - ANSWER-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? - ANSWER-File written proof of loss
,Which of the following is an example of the insured's consideration? - ANSWER-
A paid premium
A(n) _______ insurance company is one that was formed under the laws of a state
other than NJ - ANSWER-Foreign
Kathy pays a monthly premium on her health insurance policy. How long is her
grace period? - ANSWER-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? - ANSWER-
Controlled business
A master contract and certified coverage can be found in which type of policy? -
ANSWER-Group
Medicaid is a government-funded program designed to provide health care to -
ANSWER-poor people
Which type of long-term care benefit would be most appropriate for a stroke victim
who requires speech therapy administered at her home? - ANSWER-Home Health
Care
What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of
1985 allow an employee to do? - ANSWER-In the event of employment
termination, group health insurance can be kept if the employee pays the premiums
, Replacement regulation is designed to protect the interests of - ANSWER-Policy
owners
Continued coverage under COBRA would be provided to all of the following
except? - ANSWER-a covered employee is terminated for gross misconduct
A health insurer must be provided with written proof of loss ______ days after the
date of loss - ANSWER-90 days
All of the following are factors would affect a health insurance policies premium
rate Except - ANSWER-Residential address of the insured
Which of the following is NOT a required provision in an accident and health
insurance policy? - ANSWER-Change of occupation (considered optional
provision)
Within how many days must a producer notify the Department of Banking and
Insurance of a change in address? - ANSWER-30 days
When comparing an HMO, to a PPO, the PPO - ANSWER-provides a greater
choice of providers
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a
terminated employee's benefits must - ANSWER-be the same and the premium
cannot exceed 102%
An agent is required to keep replacement forms on file for at LEAST ______
years. - ANSWER-5 years
