Examen
NJ Health and Accident
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NJ Health and Accident
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NJ Health and AccidentIn 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
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
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
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
Which of the following is an example of the insured's consideration? - correct answer-A paid
premium
A(n) _______ insurance company is one that was formed under the laws of a state other
than NJ - correct answer-Foreign
Kathy pays a monthly premium on her health insurance policy. How long is her grace
period? - correct answer-10 days
Insurance licenses are intended to be issued for the purpose of authorizing the transaction of
business with members of the general public and not primarily allowing someone to benefit
from commissions on business that insurers their personal interest. The description of which
of the following? - correct answer-Controlled business
A master contract and certified coverage can be found in which type of policy? - correct
answer-Group
Medicaid is a government-funded program designed to provide health care to - correct
answer-poor people
Which type of long-term care benefit would be most appropriate for a stroke victim who
requires speech therapy administered at her home? - correct answer-Home Health Care
What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an
employee to do? - correct answer-In the event of employment termination, group health
insurance can be kept if the employee pays the premiums
Replacement regulation is designed to protect the interests of - correct answer-Policy
owners
Continued coverage under COBRA would be provided to all of the following except? -
correct answer-a covered employee is terminated for gross misconduct
A health insurer must be provided with written proof of loss ______ days after the date of
loss - correct answer-90 days
All of the following are factors would affect a health insurance policies premium rate Except -
correct answer-Residential address of the insured
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