New Jersey Life and Health Final Exam
NEW JERSEY LIFE AND HEALTH FINAL EXAM NEWEST 2025/2026
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |BRAND NEW VERSION!!
A _____ insurance company is one that was formed under the laws of a state
other than New Jersey - Correct Answer-foreign
All of the following are typically included in a life insurance policy illustration
EXCEPT - Correct Answer-Names of the beneficiary
Claims payable to a Disability Income insured, even when the insured can
continue to work, are the result of a - Correct Answer-Presumptive disability
XYZ Corp pays the tax-deductible insurance premiums for a key employee
disability policy. Which of the following would be the appropriate tax
consequence? - Correct Answer-Benefits are fully taxable
What is the purpose of the Medical Information Bureau (MIB)? - Correct Answer-
To help underwriters evaluate risk
In the advertising of Individual Life Insurance policies, an "introductory" or
"special enrollment" may not be made available until any previous enrollment
period for the same policy has been closed for at least how long? - Correct
Answer-Three months
An insurance producer is issued a _____ as evidence of authority - Correct
Answer-License
1|Page
, New Jersey Life and Health Final Exam
An individual can enroll in a Part C Medicare Advantage Plan at what time? -
Correct Answer-When becoming eligible for Medicare
In accordance with New Jersey law, a Producer must remit health insurance
premiums to the insurer within what period? - Correct Answer-7 business days
Which of the following situations would be suitable for a temporary work
authority? - Correct Answer-When an applicant passes a licensing examination
and answers all background questions negatively
Where would policy proceeds be paid if both the insured and primary beneficiary
were killed in the same accident? - Correct Answer-Contigent beneficiary
When are group disability benefits considered to be tax-free to the insured? -
Correct Answer-When the recipient pays the premiums
An agent is required to keep replacement forms on file for at LEAST _____ years -
Correct Answer-5
When a Medicare supplement policy is purchased during the open enrollment
period - Correct Answer-The policy must be issued regardless of health status
A Buyer's Guide MUST - Correct Answer-Have it's content approved by the
Insurance Commissioner
2|Page
, New Jersey Life and Health Final Exam
A doctor who accepts Medicare Assignment agrees to which of the following? -
Correct Answer-Doctor cannot charge more than Medicare's scheduled coverage
Health insurance advertisements that mention statistical information are required
by New Jersey law to - Correct Answer-Accurately convey all pertinent facts
Which of these may NOT be used in a health insurance advertisement? - Correct
Answer-An insurance company's trademark instead of the company's actual name
Twisting is best defined as - Correct Answer-Using misrepresentation to induce an
insured person to terminate an existing policy and purchase a new policy
Field underwriting performed by the producer involves - Correct Answer-
Completing the application and collecting initial premium
How many months can a life insurance policy normally be backdated from the
date of application? - Correct Answer-6
Loss of income insurance provides - Correct Answer-An individual the means to
replace wages
An insurer must furnish to a claimant forms for filing proof of loss within ___ days
upon receiving a notice of claim. - Correct Answer-15
After an insured gives notice of loss, what must he/she do if the insurer does not
furnish forms? - Correct Answer-File written proof of loss
3|Page
, New Jersey Life and Health Final Exam
Johan the producer charged a fee to a sales prospect for analyzing insurance
coverages... - Correct Answer-Substance of the services performed
A written statement describing the elements of a policy is called - Correct Answer-
Policy Summary
All of the following are considered appropriate uses of life insurance for business
purposes EXCEPT - Correct Answer-Protecting the business by covering entry level
employees with life insurance
An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if - Correct Answer-
The insured outlived the beneficiary
Carmen's individual life insurance policy has recently lapsed. She may reinstate
her policy within _____ years - Correct Answer-3
Which type of disability would be less than total impairment and equal to
permanent impairment? - Correct Answer-Permanent partial disability
Which of the following describes a person who is NOT acceptable by an insurer at
standard rates because of health history, occupation, or hobbies? - Correct
Answer-Substandard risk
4|Page
NEW JERSEY LIFE AND HEALTH FINAL EXAM NEWEST 2025/2026
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |BRAND NEW VERSION!!
A _____ insurance company is one that was formed under the laws of a state
other than New Jersey - Correct Answer-foreign
All of the following are typically included in a life insurance policy illustration
EXCEPT - Correct Answer-Names of the beneficiary
Claims payable to a Disability Income insured, even when the insured can
continue to work, are the result of a - Correct Answer-Presumptive disability
XYZ Corp pays the tax-deductible insurance premiums for a key employee
disability policy. Which of the following would be the appropriate tax
consequence? - Correct Answer-Benefits are fully taxable
What is the purpose of the Medical Information Bureau (MIB)? - Correct Answer-
To help underwriters evaluate risk
In the advertising of Individual Life Insurance policies, an "introductory" or
"special enrollment" may not be made available until any previous enrollment
period for the same policy has been closed for at least how long? - Correct
Answer-Three months
An insurance producer is issued a _____ as evidence of authority - Correct
Answer-License
1|Page
, New Jersey Life and Health Final Exam
An individual can enroll in a Part C Medicare Advantage Plan at what time? -
Correct Answer-When becoming eligible for Medicare
In accordance with New Jersey law, a Producer must remit health insurance
premiums to the insurer within what period? - Correct Answer-7 business days
Which of the following situations would be suitable for a temporary work
authority? - Correct Answer-When an applicant passes a licensing examination
and answers all background questions negatively
Where would policy proceeds be paid if both the insured and primary beneficiary
were killed in the same accident? - Correct Answer-Contigent beneficiary
When are group disability benefits considered to be tax-free to the insured? -
Correct Answer-When the recipient pays the premiums
An agent is required to keep replacement forms on file for at LEAST _____ years -
Correct Answer-5
When a Medicare supplement policy is purchased during the open enrollment
period - Correct Answer-The policy must be issued regardless of health status
A Buyer's Guide MUST - Correct Answer-Have it's content approved by the
Insurance Commissioner
2|Page
, New Jersey Life and Health Final Exam
A doctor who accepts Medicare Assignment agrees to which of the following? -
Correct Answer-Doctor cannot charge more than Medicare's scheduled coverage
Health insurance advertisements that mention statistical information are required
by New Jersey law to - Correct Answer-Accurately convey all pertinent facts
Which of these may NOT be used in a health insurance advertisement? - Correct
Answer-An insurance company's trademark instead of the company's actual name
Twisting is best defined as - Correct Answer-Using misrepresentation to induce an
insured person to terminate an existing policy and purchase a new policy
Field underwriting performed by the producer involves - Correct Answer-
Completing the application and collecting initial premium
How many months can a life insurance policy normally be backdated from the
date of application? - Correct Answer-6
Loss of income insurance provides - Correct Answer-An individual the means to
replace wages
An insurer must furnish to a claimant forms for filing proof of loss within ___ days
upon receiving a notice of claim. - Correct Answer-15
After an insured gives notice of loss, what must he/she do if the insurer does not
furnish forms? - Correct Answer-File written proof of loss
3|Page
, New Jersey Life and Health Final Exam
Johan the producer charged a fee to a sales prospect for analyzing insurance
coverages... - Correct Answer-Substance of the services performed
A written statement describing the elements of a policy is called - Correct Answer-
Policy Summary
All of the following are considered appropriate uses of life insurance for business
purposes EXCEPT - Correct Answer-Protecting the business by covering entry level
employees with life insurance
An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if - Correct Answer-
The insured outlived the beneficiary
Carmen's individual life insurance policy has recently lapsed. She may reinstate
her policy within _____ years - Correct Answer-3
Which type of disability would be less than total impairment and equal to
permanent impairment? - Correct Answer-Permanent partial disability
Which of the following describes a person who is NOT acceptable by an insurer at
standard rates because of health history, occupation, or hobbies? - Correct
Answer-Substandard risk
4|Page
