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New Jersey Accident and Health State Exam - Numbers.
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New Jersey Accident and Health State Exam - Numbers.
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New Jersey Accident and Health StateExam - Numbers
A 10% excise tax is normally applied to an early withdraw from an IRA. According to HIPAA, this tax will
not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's
adjusted gross income. - Answer: 7.5%
Nina just passed her New Jersey insurance licensing examination. She is REQUIRED to apply for a
producer's license within _____ months. - Answer: 12
Which of the following is present when an applicant stands to lose value if the insured dies? - Answer:
Insurable Interest
An agent is a(n) - Answer: licensed producer who has a written contract to represent an insurer
Credit Accident and Health plans are designed to - Answer: help pay off existing loans during periods of
disability
Which of the following is NOT a required provision in an accident and health insurance policy? - Answer:
Change of occupation
What is a Self-funded plan? - Answer: The employer assumes the financial risk for providing health care
benefits to its employees
Long-Term Care policies may provide coverage for claims arising from - Answer: Senile dementia and
organic mental disorders
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:
$5,000
, When replacing group insurance, the replacing policy must cover ongoing claims from the former
policies - Answer: No loss no gain law
Waiting (elimination) period - Answer: With regard to disability insurance, the _________ is to exclude
payments for a short-term illness or inury
Karen is a producer who 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? - Answer:
$10,000
Tax-qualified long-term care premiums are considered a deductible medical expense if the taxpayer's
medical expenses exceed ____% of their adjusted gross income - Answer: 7.5%
What would be considered an underwriting duty of an AGENT? - Answer: Completing all applications
and collecting initial premiums
A producer must notify the Commissioner within ____ days of a felony conviction. - Answer: 30
An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical
procedures, or other losses. This list is called a - Answer: Benefit schedule
What is an experience rating? - Answer: Used to estimate how much a specific group will have to spend
on medical care. When determining the appropriate coverage and final premium rate for group health
insurance, the insurer's underwriters will use this.
How many employees must an employer have for a terminated employee to be eligible for COBRA? -
Answer: 20
What is the MAXIMUM fine for a producer violating a New Jersey Insurance law for the first time? -
Answer: $5,000
Medicare Part A covers - Answer: inpatient care in hospitals and skilled nursing facilities, and it covers
care provided in a hospice and some care provided at home.
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