NJ Life and Health XCEL questions (Post
course exam)
Justin is receiving disability income benefits from a group policy paid for by his employer.
How are these benefits treated? - correct answer-Taxable Income
Which of these is not a non forfeiture option - correct answer-Reduction of Premium
What life insurance is subject to interest rates - correct answer-Universal Life
What decision cant an HSA owner make - correct answer-The amount contributed by the
employer
How long is a contestable period of health insurance policies sold in NJ - correct answer-2
years
What must be included on a Billboard poster selling annuities - correct answer-Name of
Agent
How long must replacement forms must be kept - correct answer-5 years
Type of option where the policy owner defers his current receipt of income tax and has it
paid at a later date, when they are in a lower tax bracket - correct answer-deferred
compensation option
What is not a core benefit of medicare supplement plan A - correct answer-Deductible
payments for the first 60 days of hospitalization under medical hospitalization insurance
How many days are needed for notice to extend coverage - correct answer-30
If Mark continues to work after 65 and is covered through employers group plan what does
that mean for medicare - correct answer-medicare is a secondary payer
where are policy benefits found - correct answer-declerations
what cannot be used by an underwriter to when determining whether or not to accept risk -
correct answer-National Association of Insurance Underwriters
elimination period is disability is what? - correct answer-Time that a person must wait before
benefits are paid
When determining whether a health condition applies, how long can the gap be between the
previous health insurance - correct answer-63 days
, What cannot be done by an insurance company if the policy contains a guaranteed
renewable premium benefit - correct answer-increase premiums on an individual basis
why is there a coordination of benefits provision in a group accident health plan - correct
answer-avoid overpaying
What is it called when a person uses misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy - correct answer-Twisting
Free look replacement policy lasts - correct answer-30 days
Premium Mode describes - correct answer-frequency of payment
what does coordination of benefits allow - correct answer-secondary payor to reduce their
benefit payment so no more than 100% of the claim is paid
non-contributory health insurance plan helps avoid - correct answer-adverse selection
If maria is a PPO provider and received care from an out-of-network provide then what is
true - correct answer-Care is covered
Medicare B also know as - correct answer-Medical Insurance
In whole life the accumulation of cash value becomes - correct answer-a policy loan the
insured may borrow against
The role of federal government was expanded when medicaid was established by allowing
states to what? - correct answer-receive matching funds to expand public assistance
programs
insurance company located in another country is - correct answer-alien
insurance companies can only pay sales commission to those - correct answer-licensed by
the state
The commissioner determines an individual has engaged in an act violation state insurance
laws, what can he order - correct answer-stop engaging in those acts
what is medicaid funded by - correct answer-Federal, state, and local taxes
Who is retained at the expense of the insurance buyer to give advice on insurance needed -
correct answer-Brokers and Consultants
Insurance company out of the practicing state is what? - correct answer-foreign
when does enrollment period begin for medicare supplements - correct answer-3 months
after 65th birthday
course exam)
Justin is receiving disability income benefits from a group policy paid for by his employer.
How are these benefits treated? - correct answer-Taxable Income
Which of these is not a non forfeiture option - correct answer-Reduction of Premium
What life insurance is subject to interest rates - correct answer-Universal Life
What decision cant an HSA owner make - correct answer-The amount contributed by the
employer
How long is a contestable period of health insurance policies sold in NJ - correct answer-2
years
What must be included on a Billboard poster selling annuities - correct answer-Name of
Agent
How long must replacement forms must be kept - correct answer-5 years
Type of option where the policy owner defers his current receipt of income tax and has it
paid at a later date, when they are in a lower tax bracket - correct answer-deferred
compensation option
What is not a core benefit of medicare supplement plan A - correct answer-Deductible
payments for the first 60 days of hospitalization under medical hospitalization insurance
How many days are needed for notice to extend coverage - correct answer-30
If Mark continues to work after 65 and is covered through employers group plan what does
that mean for medicare - correct answer-medicare is a secondary payer
where are policy benefits found - correct answer-declerations
what cannot be used by an underwriter to when determining whether or not to accept risk -
correct answer-National Association of Insurance Underwriters
elimination period is disability is what? - correct answer-Time that a person must wait before
benefits are paid
When determining whether a health condition applies, how long can the gap be between the
previous health insurance - correct answer-63 days
, What cannot be done by an insurance company if the policy contains a guaranteed
renewable premium benefit - correct answer-increase premiums on an individual basis
why is there a coordination of benefits provision in a group accident health plan - correct
answer-avoid overpaying
What is it called when a person uses misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy - correct answer-Twisting
Free look replacement policy lasts - correct answer-30 days
Premium Mode describes - correct answer-frequency of payment
what does coordination of benefits allow - correct answer-secondary payor to reduce their
benefit payment so no more than 100% of the claim is paid
non-contributory health insurance plan helps avoid - correct answer-adverse selection
If maria is a PPO provider and received care from an out-of-network provide then what is
true - correct answer-Care is covered
Medicare B also know as - correct answer-Medical Insurance
In whole life the accumulation of cash value becomes - correct answer-a policy loan the
insured may borrow against
The role of federal government was expanded when medicaid was established by allowing
states to what? - correct answer-receive matching funds to expand public assistance
programs
insurance company located in another country is - correct answer-alien
insurance companies can only pay sales commission to those - correct answer-licensed by
the state
The commissioner determines an individual has engaged in an act violation state insurance
laws, what can he order - correct answer-stop engaging in those acts
what is medicaid funded by - correct answer-Federal, state, and local taxes
Who is retained at the expense of the insurance buyer to give advice on insurance needed -
correct answer-Brokers and Consultants
Insurance company out of the practicing state is what? - correct answer-foreign
when does enrollment period begin for medicare supplements - correct answer-3 months
after 65th birthday
