NJ HEALTH AND ACCIDENT INSURANCE ACTUAL
EXAM QUESTIONS AND 100% CORRECT
ANSWERS / NEW JERSEY 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
EXAM QUESTIONS AND 100% CORRECT
ANSWERS / NEW JERSEY 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
