10/1/25, 12:59 PM NJ Health Insurance Exam (XCEL Solutions) Questions & Answers | 100% Verified solutions |Questions with Correct Answers 202…
NJ Health Insurance Exam (XCEL Solutions)
Questions & Answers | 100% Verified solutions
|Questions with Correct Answers 2025 latest
update!!
Save
Terms in this set (320)
Why are dividends from a because dividends are considered to be a return of
mutual insurer not subject premium
to taxation?
ABC insurance company reinsurance
transfers part of their risk
to XYZ insurance
company. This situation is
called
A nonparticipating stock insurer
company is sometimes
called a(n)
What is considered to be provide death benefits
the primary reason for
buying life insurance?
A(n) _____ company is stock
owned by its shareholders
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,10/1/25, 12:59 PM NJ Health Insurance Exam (XCEL Solutions) Questions & Answers | 100% Verified solutions |Questions with Correct Answers 202…
A plan in which an a self-funded plan
employer pays insurance
benefits from a fund
derived from the
employer's current
revenues is called
What is the primary determine financial strength of an insurance company
purpose of a rating
service company such as
A.M. Best?
Karen is a producer who $10,000
has obtained personal
information about a client
without having a
legitimate reason to do so.
Under the McCarran-
Ferguson Act, what is the
minimum penalty for this?
A nonparticipating policy not pay dividends
will
A life insurance company reinsurer
has transferred some of its
risk to another insurer. The
insurer assuming the risk is
called the
Ken is a producer who has $5,000
obtained Consumer
Information Reports under
false pretenses. Under the
Fair Credit Reporting Act,
what is the maximum
penalty that may be
imposed on Ken?
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,10/1/25, 12:59 PM NJ Health Insurance Exam (XCEL Solutions) Questions & Answers | 100% Verified solutions |Questions with Correct Answers 202…
A type of insurer that is mutual
owned by its
policyowners is called
Fraternal Benefit Society exists for profit
has each of the following
characteristics EXCEPT
incorporated
without capital stock
exists for profit
exists for the benefit of its
members
The Do Not Call Registry insurance sales calls
offers exemptions for calls
placed from all of the
following EXCEPT
charities
political organizations
insurance sales calls
surveys
What kind of life insurance participating life insurance policy
policy issues by a mutual
insurer provides a return
of divisible surplus?
An insurer's ability to make liquidity
unpredictable payouts to
policyowners is called
An insurer's claim state insurance departments
settlement practices are
regulated by the
https://quizlet.com/1085624454/nj-health-insurance-exam-xcel-solutions-questions-answers-100-verified-solutions-questions-with-correct-answers-20… 3/56
, 10/1/25, 12:59 PM NJ Health Insurance Exam (XCEL Solutions) Questions & Answers | 100% Verified solutions |Questions with Correct Answers 202…
Which of the following is a rating from a rating service company, such as A.M.
NOT considered Best
advertising?
a rating from a rating
service company, such as
A.M. Best
an illustration
a sales presentation
direct mailing from an
agency
The Fair Credit and protect consumers with guidelines regarding credit
Reporting Act's main reporting and distribution
purpose is to
When the principle gives express authority
the agent authority in
writing, it's referred to as
What are an applicant's representations
statements concerning
occupation, hobbies, and
personal health history
regarded as?
In an insurance contract, consideration
the element that shows
each party is giving
something of value is
called
Which of the following is a paid premium
an example of the
insured's consideration?
Intentional withholding of concealment
material facts that would
affect an insurance
policy's validity is called
a(n)
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NJ Health Insurance Exam (XCEL Solutions)
Questions & Answers | 100% Verified solutions
|Questions with Correct Answers 2025 latest
update!!
Save
Terms in this set (320)
Why are dividends from a because dividends are considered to be a return of
mutual insurer not subject premium
to taxation?
ABC insurance company reinsurance
transfers part of their risk
to XYZ insurance
company. This situation is
called
A nonparticipating stock insurer
company is sometimes
called a(n)
What is considered to be provide death benefits
the primary reason for
buying life insurance?
A(n) _____ company is stock
owned by its shareholders
https://quizlet.com/1085624454/nj-health-insurance-exam-xcel-solutions-questions-answers-100-verified-solutions-questions-with-correct-answers-20… 1/56
,10/1/25, 12:59 PM NJ Health Insurance Exam (XCEL Solutions) Questions & Answers | 100% Verified solutions |Questions with Correct Answers 202…
A plan in which an a self-funded plan
employer pays insurance
benefits from a fund
derived from the
employer's current
revenues is called
What is the primary determine financial strength of an insurance company
purpose of a rating
service company such as
A.M. Best?
Karen is a producer who $10,000
has obtained personal
information about a client
without having a
legitimate reason to do so.
Under the McCarran-
Ferguson Act, what is the
minimum penalty for this?
A nonparticipating policy not pay dividends
will
A life insurance company reinsurer
has transferred some of its
risk to another insurer. The
insurer assuming the risk is
called the
Ken is a producer who has $5,000
obtained Consumer
Information Reports under
false pretenses. Under the
Fair Credit Reporting Act,
what is the maximum
penalty that may be
imposed on Ken?
https://quizlet.com/1085624454/nj-health-insurance-exam-xcel-solutions-questions-answers-100-verified-solutions-questions-with-correct-answers-20… 2/56
,10/1/25, 12:59 PM NJ Health Insurance Exam (XCEL Solutions) Questions & Answers | 100% Verified solutions |Questions with Correct Answers 202…
A type of insurer that is mutual
owned by its
policyowners is called
Fraternal Benefit Society exists for profit
has each of the following
characteristics EXCEPT
incorporated
without capital stock
exists for profit
exists for the benefit of its
members
The Do Not Call Registry insurance sales calls
offers exemptions for calls
placed from all of the
following EXCEPT
charities
political organizations
insurance sales calls
surveys
What kind of life insurance participating life insurance policy
policy issues by a mutual
insurer provides a return
of divisible surplus?
An insurer's ability to make liquidity
unpredictable payouts to
policyowners is called
An insurer's claim state insurance departments
settlement practices are
regulated by the
https://quizlet.com/1085624454/nj-health-insurance-exam-xcel-solutions-questions-answers-100-verified-solutions-questions-with-correct-answers-20… 3/56
, 10/1/25, 12:59 PM NJ Health Insurance Exam (XCEL Solutions) Questions & Answers | 100% Verified solutions |Questions with Correct Answers 202…
Which of the following is a rating from a rating service company, such as A.M.
NOT considered Best
advertising?
a rating from a rating
service company, such as
A.M. Best
an illustration
a sales presentation
direct mailing from an
agency
The Fair Credit and protect consumers with guidelines regarding credit
Reporting Act's main reporting and distribution
purpose is to
When the principle gives express authority
the agent authority in
writing, it's referred to as
What are an applicant's representations
statements concerning
occupation, hobbies, and
personal health history
regarded as?
In an insurance contract, consideration
the element that shows
each party is giving
something of value is
called
Which of the following is a paid premium
an example of the
insured's consideration?
Intentional withholding of concealment
material facts that would
affect an insurance
policy's validity is called
a(n)
https://quizlet.com/1085624454/nj-health-insurance-exam-xcel-solutions-questions-answers-100-verified-solutions-questions-with-correct-answers-20… 4/56
