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CH Exam. NJ Life & Health State Exam Simulator Questions with Solutions
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CH Exam. NJ Life & Health State Exam Simulator
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CH Exam. NJ Life & Health State ExamSimulator
which entity is responsible for regulating insurance advertising in New Jersey:
-Better Business Bureau
-Attorney General
-Federal Communications Commission
-New Jersey Department of Banking & Insurance - answer New Jersey Department of
Banking & Insurance
at what age will a person normally enroll with an insurance carrier under a Part C
Medicare Advantage Plan:
-age 59 1/2
-age 60
-age 62
-age 65 - answer age 65
which of the following signatures is not required on an individual insurance application:
-producer
-applicant
-insured
-insurer - answerinsurer
a waiver of premium rider allows an insured to waive premium payments if the insured
is:
-temporarily disabled
-unemployed
-completely and permanently disabled
-experiencing financial hardship - answercompletely and permanently disabled
what is created after policy proceeds are obtained in a lump sum and then immediately
invested:
-viatical settlement
-emergency fund
-lump sum fund
-estate - answerestate
which of the following circumstances requires an individual to be a licensed producer:
-setting up sales appointments
-following up with a policy owner about a change in address
-discussing premiums with a potential insured
,-conduct an agency sales meeting - answerdiscussing premiums with a potential
insured
which of these premium payment frequencies is not typically available to a policy owner:
-bi weekly
-monthly
-quarterly
-semi annual - answerbi weekly
in an employer-sponsored group accident and health plan, a master contract is issued
to the:
-TPA
-employees
-Administrative Services Organization
-employer - answeremployer
which of these is affected by the frequency of an insurance policy's premium payments:
-settlement options
-cash value
-death benefit
-cost - answercost
which of these is considered to be a Living Benefit option in a life insurance policy:
-reinstatement
-waiver of premium
-accelerated death benefit
-payor benefit - answeraccelerated death benefit
which of the following is not a duty of the Commissioner:
-establish insurer rates
-conduct investigations
-issue subpoenas
-administer oaths - answerestablish insurer rates
Simon has purchased a fixed immediate annuity. His payment amount will be
dependent upon principal, interest and the contract's...:
-surrender charge
-death benefit
-cash refund
-income period - answerincome period
when new life insurance is to be purchased, the solicitation will be considered a
replacement transaction if, in conjunction with the sale, existing life insurance will be
subject to borrowing for amounts exceeding which of the following:
-10% of the policy's loan value
-25% of the policy's loan value
, -50% of the policy's loan value
-75% of the policy's loan value - answer25% of the policy's loan value
which of the following would be considered a possible applicant and contract
policyholder for group health benefits:
-human resource department
-employer
-insured employee
-insurance company - answeremployer
Major Medical expense plans provide coverage for each of the following except:
-medically necessary surgery
-diagnostic test
-blood and urine lab screens
-work related injuries - answerwork related injuries
in what part of an insurance policy are policy benefits found:
-declarations
-entire contract
-waivers
-conditions - answerdeclarations
the death benefit of Credit Life and Health Insurance is paid to whom:
-beneficiary of policy owner's choosing
-creditor
-policy owner
-insured - answerthe creditor
which of the following best describes a conditional insurance contract:
-a contract that requires certain conditions or acts by the insured individual
-a contract that has the potential for the unequal exchange of consideration for both
parties
-a contract where one party "adheres" to the terms of the contract
-a contract where only one party makes any kind of enforceable contract - answera
contract that requires certain conditions or acts by the insured individual
the Fair Credit and Reporting Act's main purpose is to:
-assist in the underwriting of insurance policies
-protect insurers from an applicant's misrepresentation
-protect consumers with guidelines regarding credit reporting and distribution
-assist an insurer in determining an applicant's creditworthiness - answerprotects
consumers with guidelines regarding credit reporting and distribution
mortality is calculated by using a large risk pool of:
-hobbies and time
-people and time
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