NJ ACCIDENT AND HEALTH PRODUCER LATEST EXAMINATION
QUESTIONS WITH VERIFIED ANSWERS. / ALREADY GRADED A+
With written proof of loss, how many days to file the claim?
How many days before the insured can bring legal action against the insurer?
90 days
60 days
No contract is in force until ______ is paid?
Initial premium
In Key Employee Disability Policy, if the business pays the premium as a tax-deductible expense, any
benefits paid are ______?
Fully taxable
Policies that pay higher benefits, command ______ ?
Higher premiums
One of the main responsibilities of an underwriter is to protect the insurer against ______?
Adverse selection
Insurers issue preferred risk policies with reduced premiums with the expectation of ______?
Better than normal mortality or morbidity experience
Monitoring the insured's hospital stay to ensure everything is going according to schedule and that
the insured will be released as planned is called ______?
Concurrent review
HIPAA provides that the 10% excise of tax for early withdrawal from IRAs will not apply to the extent
a withdrawal is used for medical expenses that exceed ______ of the individual's adjusted gross
income.
7.5%
One of the most important considerations in replacing medical insurance is ______?
Exclusions or limitations on a new policy
Upon policy delivery, if no initial payment is collected with the application, the producer must request
______?
The applicant to sign a Statement of Good Health
, Managed care is provided with which policies, except ______?
Covered:
- PPO
- POS (point-of-service)
- HMO
Point of service plan is considered what kind of plan?
Managed care plan
Underwriters acquire information from these sources ______
- MIB
- Consumer report
- Attending physician statement
Main field underwriter task is to ______?
Ensure accuracy and completeness of an individual's medical information
Sources of information that can assist underwriters are ______?
- Agents report
- MIB
- Inspection reports
In a specified disease insurance policy to a new policyowner, the producer can expect to collect all of
these, ______?
- Initial premium
- Signed impairment rider acknowledgment
- Good health statement
Field underwriting roles include ______?
- Providing disclosure to applicant
- Collecting initial premium
- Policy delivery
A statement believed to be true is called ______?
Representation
An absolutely true statement is called ______?
Warranty
Making a misrepresentation to an insured concerning a the policy provisions affecting a loss is
considered ______?
Unfair trade practice
QUESTIONS WITH VERIFIED ANSWERS. / ALREADY GRADED A+
With written proof of loss, how many days to file the claim?
How many days before the insured can bring legal action against the insurer?
90 days
60 days
No contract is in force until ______ is paid?
Initial premium
In Key Employee Disability Policy, if the business pays the premium as a tax-deductible expense, any
benefits paid are ______?
Fully taxable
Policies that pay higher benefits, command ______ ?
Higher premiums
One of the main responsibilities of an underwriter is to protect the insurer against ______?
Adverse selection
Insurers issue preferred risk policies with reduced premiums with the expectation of ______?
Better than normal mortality or morbidity experience
Monitoring the insured's hospital stay to ensure everything is going according to schedule and that
the insured will be released as planned is called ______?
Concurrent review
HIPAA provides that the 10% excise of tax for early withdrawal from IRAs will not apply to the extent
a withdrawal is used for medical expenses that exceed ______ of the individual's adjusted gross
income.
7.5%
One of the most important considerations in replacing medical insurance is ______?
Exclusions or limitations on a new policy
Upon policy delivery, if no initial payment is collected with the application, the producer must request
______?
The applicant to sign a Statement of Good Health
, Managed care is provided with which policies, except ______?
Covered:
- PPO
- POS (point-of-service)
- HMO
Point of service plan is considered what kind of plan?
Managed care plan
Underwriters acquire information from these sources ______
- MIB
- Consumer report
- Attending physician statement
Main field underwriter task is to ______?
Ensure accuracy and completeness of an individual's medical information
Sources of information that can assist underwriters are ______?
- Agents report
- MIB
- Inspection reports
In a specified disease insurance policy to a new policyowner, the producer can expect to collect all of
these, ______?
- Initial premium
- Signed impairment rider acknowledgment
- Good health statement
Field underwriting roles include ______?
- Providing disclosure to applicant
- Collecting initial premium
- Policy delivery
A statement believed to be true is called ______?
Representation
An absolutely true statement is called ______?
Warranty
Making a misrepresentation to an insured concerning a the policy provisions affecting a loss is
considered ______?
Unfair trade practice
