NJ HEALTH AND ACCIDENT INSURANCE EXAM 2024 ACTUAL EXAM
COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) ALREADY GRADED A+
In what form do disability income policies
typically pay benefits - CORRECT ANSWER
>>>>Periodic income
The Mandatory health policy provision states
that the policy, including endorsements and
attached papers, constitutes - CORRECT
ANSWER >>>>The entire insurance contract
between the parties
The entire contract includes the actual policy
and the - CORRECT ANSWER >>>>application
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employer sponsored group health insurance
provides coverage for which of the following -
CORRECT ANSWER >>>>Alcoholism
The term which describes the fact that both
parties of a contract may not receive the same
value is referred to as - CORRECT ANSWER
>>>>Aleatory
Tom has a home health care benefit and is
confined to his home. Which of these is NOT
typically covered - CORRECT ANSWER >>>>Full-
time nursing care
A Medicare Supplement policy can be cancelled
by the insurer for - CORRECT ANSWER
>>>>Nonpayment
Credit Accident and Health plans are designed
to - CORRECT ANSWER >>>>help pay off
existing loans during periods of disability
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A payment system for health care in which the
provider is paid for each service given is called -
CORRECT ANSWER >>>>fee-for-service
An insurance company ONLY pay a sales
commission to - CORRECT 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? - CORRECT 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 -
CORRECT ANSWER >>>>100% of the billed
amount
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What is the maximum fine for a producer
violating an NJ insurance law for the first time?
- CORRECT ANSWER >>>>$5000
A licensed producer is required to file notice to
any changes of address within how many days -
CORRECT 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? - CORRECT 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?
- CORRECT ANSWER >>>>File written proof of
loss
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