NJ ACCIDENT AND HEALTH PRODUCER LATEST EXAMINATION
QUESTIONS WITH VERIFIED ANSWERS. / ALREADY GRADED A+
Which of the folllowing is considered to be a period when the accumalted value in annuity is paid out?
annuization phase
Disability income plans which require that the insurer never change or alter premoum rates are
usually considered
noncancellable
In contrast to a guranteed renewable policy, a noncancellable policy
may never raise premiums
A health insurance policy that allows an sinsurer to change the policyowners premiums but not cancel
the policy is called an?
guranteed renewable policy
Varaible life insurance and universal life insurance are very similar. which of these features are held
exclusvilely by variable universal life insurance
policyowner has the right to select the investment which will provide the greatest return
What types of life insurance are normally used for key employee indemtification
term, whole, and universal life
A life insurance policy which contains cash values that vary according to its investment performance
of stocks is called
varaible whole life
kathy pays a monthly premium on her health insurance polcy . How long is her grace period
10 days
The reinstatement provision in health insurance policy is
mandatory
A partial surrender is allowed in which of the follwoing life policies
universal life
which of the following best descibres condtional insurance contracts
A contract that requires certain conditions or acts by the insured individual
Which of these factors help determine an insured's life insurance premium
, avocation (policy)
Pre-death distributuions from a midofied endowment contract (MEC) received different tax treatment
than other life insurance policies because
the MEC tends to be an investment vehicle
According to the principle of Utmost Good faith, the insured will answer questions on the application
to the best knoledge and pay the required premium, while the insurer will deal fairly with the insured
and it's
promises made
Which of these deacribes the result of a modified endowment contract that failed to meet the seven-
pay test
pre-death distributions are typically taxable
elizabeth is the beneficiary of a life insurance policy. she is receiving the death bebefit in payments of
over $10,000 per month until the principal and interest has been paid out. which option was chosen
fixed amount
a policyowner may excersie which of these dividend options that uses the dividend to pay al or part of
the next premium due
reduction of premium dividend option
A provision that allows a policyowner to withdraw a policy's cash value interest fee is an
partial surrender
What is the primary feature of a viatical settlement
reduced death benefit prepayment
Under social security disability requirements, a worker is fully insured on a permanent basis after
having a worked in a covered occupation for
40 quarters
A medicare supplement plan can be canceled by the insurer
for nonpayment of premiums
Craig purchased a life insurance policy for enabling his heirs to pay estate taxes. What is this called
estate conservation
The typical long-term care insurance policy is designed to provide a minimum of how many years of
coverage
1
Which of these factors is not taken into account when determining an applicant's life insurance needs
QUESTIONS WITH VERIFIED ANSWERS. / ALREADY GRADED A+
Which of the folllowing is considered to be a period when the accumalted value in annuity is paid out?
annuization phase
Disability income plans which require that the insurer never change or alter premoum rates are
usually considered
noncancellable
In contrast to a guranteed renewable policy, a noncancellable policy
may never raise premiums
A health insurance policy that allows an sinsurer to change the policyowners premiums but not cancel
the policy is called an?
guranteed renewable policy
Varaible life insurance and universal life insurance are very similar. which of these features are held
exclusvilely by variable universal life insurance
policyowner has the right to select the investment which will provide the greatest return
What types of life insurance are normally used for key employee indemtification
term, whole, and universal life
A life insurance policy which contains cash values that vary according to its investment performance
of stocks is called
varaible whole life
kathy pays a monthly premium on her health insurance polcy . How long is her grace period
10 days
The reinstatement provision in health insurance policy is
mandatory
A partial surrender is allowed in which of the follwoing life policies
universal life
which of the following best descibres condtional insurance contracts
A contract that requires certain conditions or acts by the insured individual
Which of these factors help determine an insured's life insurance premium
, avocation (policy)
Pre-death distributuions from a midofied endowment contract (MEC) received different tax treatment
than other life insurance policies because
the MEC tends to be an investment vehicle
According to the principle of Utmost Good faith, the insured will answer questions on the application
to the best knoledge and pay the required premium, while the insurer will deal fairly with the insured
and it's
promises made
Which of these deacribes the result of a modified endowment contract that failed to meet the seven-
pay test
pre-death distributions are typically taxable
elizabeth is the beneficiary of a life insurance policy. she is receiving the death bebefit in payments of
over $10,000 per month until the principal and interest has been paid out. which option was chosen
fixed amount
a policyowner may excersie which of these dividend options that uses the dividend to pay al or part of
the next premium due
reduction of premium dividend option
A provision that allows a policyowner to withdraw a policy's cash value interest fee is an
partial surrender
What is the primary feature of a viatical settlement
reduced death benefit prepayment
Under social security disability requirements, a worker is fully insured on a permanent basis after
having a worked in a covered occupation for
40 quarters
A medicare supplement plan can be canceled by the insurer
for nonpayment of premiums
Craig purchased a life insurance policy for enabling his heirs to pay estate taxes. What is this called
estate conservation
The typical long-term care insurance policy is designed to provide a minimum of how many years of
coverage
1
Which of these factors is not taken into account when determining an applicant's life insurance needs
