Exam (elaborations)
CH Exam. NJ Life & Health State Exam Simulator Questions with Solutions
- Course
- Institution
CH Exam. NJ Life & Health State Exam Simulator
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now