NEW JERSEY LIFE AND HEALTH FINAL
EXAM 2025
Which type of long-term care benefit would be most appropriate for a
stroke victim who requires speech therapy administered at her home? -
Precise Answer ✔✔Home health care
Which of the following is NOT a federal requirement of a qualified
plan? - Precise Answer ✔✔Employee must be able to make unlimited
contributions
Why are dividends from a mutual insurer not subject to taxation? -
Precise Answer ✔✔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... - Precise Answer ✔✔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? - Precise Answer
✔✔Payor benefit
Which of these premium payment frequencies is not typically available
to a policy owner? - Precise Answer ✔✔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? - Precise Answer ✔✔Her name
Which disability policy provision would address any concerns of the
value of the benefits decreasing over time? - Precise Answer ✔✔Cost of
living benefit
Which of these is NOT a characteristic of the Accelerated Death Benefit
option? - Precise Answer ✔✔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 - Precise Answer ✔✔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? -
Precise Answer ✔✔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... - Precise Answer
✔✔Common disaster clause
,Key Person Disability Insurance pays benefits to the - Precise Answer
✔✔Employer
Under a disability income policy, which provision would be payable if
the cause of an injury is unexpected and accidental? - Precise Answer
✔✔Accidental bodily injury provision
What will the beneficiary receive if an annuitant dies during the
accumulation period? - Precise Answer ✔✔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. - Precise Answer ✔✔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? - Precise Answer ✔✔Unpaid premium
How many employees must an employer have for a terminated
employee to be eligible for COBRA? - Precise Answer ✔✔20
A licensed producer is required to file notice of any change of address
within how many days? - Precise Answer ✔✔30
, Advertising material for a life insurance policy does NOT need to
contain which of the following? - Precise Answer ✔✔Agent's
commission rate
What is the maximum fine for a producer violating a New Jersey
Insurance law for the first time? - Precise Answer ✔✔$5,000
How long must an individual be unable to engage in any gainful activity
due physical or mental disability in order to qualify for Social Security
Total Disability? - Precise Answer ✔✔12 months
Sonya applied for a health insurance policy on April 1. Her agent
submitted the information to the insurance company on April 6. She paid
the premium on May 15 with the policy indicating the effective date
being May 30. On which date would Sonya have coverage? - Precise
Answer ✔✔May 30
Under a life insurance policy, what does the insuring clause state? -
Precise Answer ✔✔The insurer's obligation to pay a death benefit upon
an approved death claim
Jennifer is required to pay a specific sum out of pocket before any
benefits are paid in a year. Her health policy most likely contains a(n) -
Precise Answer ✔✔deductible
How often must an insurance producer's license in New Jersey be
renewed? - Precise Answer ✔✔Every two years
EXAM 2025
Which type of long-term care benefit would be most appropriate for a
stroke victim who requires speech therapy administered at her home? -
Precise Answer ✔✔Home health care
Which of the following is NOT a federal requirement of a qualified
plan? - Precise Answer ✔✔Employee must be able to make unlimited
contributions
Why are dividends from a mutual insurer not subject to taxation? -
Precise Answer ✔✔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... - Precise Answer ✔✔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? - Precise Answer
✔✔Payor benefit
Which of these premium payment frequencies is not typically available
to a policy owner? - Precise Answer ✔✔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? - Precise Answer ✔✔Her name
Which disability policy provision would address any concerns of the
value of the benefits decreasing over time? - Precise Answer ✔✔Cost of
living benefit
Which of these is NOT a characteristic of the Accelerated Death Benefit
option? - Precise Answer ✔✔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 - Precise Answer ✔✔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? -
Precise Answer ✔✔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... - Precise Answer
✔✔Common disaster clause
,Key Person Disability Insurance pays benefits to the - Precise Answer
✔✔Employer
Under a disability income policy, which provision would be payable if
the cause of an injury is unexpected and accidental? - Precise Answer
✔✔Accidental bodily injury provision
What will the beneficiary receive if an annuitant dies during the
accumulation period? - Precise Answer ✔✔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. - Precise Answer ✔✔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? - Precise Answer ✔✔Unpaid premium
How many employees must an employer have for a terminated
employee to be eligible for COBRA? - Precise Answer ✔✔20
A licensed producer is required to file notice of any change of address
within how many days? - Precise Answer ✔✔30
, Advertising material for a life insurance policy does NOT need to
contain which of the following? - Precise Answer ✔✔Agent's
commission rate
What is the maximum fine for a producer violating a New Jersey
Insurance law for the first time? - Precise Answer ✔✔$5,000
How long must an individual be unable to engage in any gainful activity
due physical or mental disability in order to qualify for Social Security
Total Disability? - Precise Answer ✔✔12 months
Sonya applied for a health insurance policy on April 1. Her agent
submitted the information to the insurance company on April 6. She paid
the premium on May 15 with the policy indicating the effective date
being May 30. On which date would Sonya have coverage? - Precise
Answer ✔✔May 30
Under a life insurance policy, what does the insuring clause state? -
Precise Answer ✔✔The insurer's obligation to pay a death benefit upon
an approved death claim
Jennifer is required to pay a specific sum out of pocket before any
benefits are paid in a year. Her health policy most likely contains a(n) -
Precise Answer ✔✔deductible
How often must an insurance producer's license in New Jersey be
renewed? - Precise Answer ✔✔Every two years
