NJ HEALTH AND ACCIDENT INSURANCE
ACTUAL 2026 FINAL EXAM CORE CONCEPTS
AND PRACTICE MATERIALS PACKAGE
◉ The Mandatory health policy provision states that the policy,
including endorsements and attached papers, constitutes.
Answer: The entire insurance contract between the parties
◉ The entire contract includes the actual policy and the.
Answer: application
◉ employer sponsored group health insurance provides coverage
for which of the following.
Answer: Alcoholism
◉ The term which describes the fact that both parties of a contract
may not receive the same value is referred to as.
Answer: Aleatory
◉ Tom has a home health care benefit and is confined to his home.
Which of these is NOT typically covered.
Answer: Full-time nursing care
,◉ A Medicare Supplement policy can be cancelled by the insurer for.
Answer: Nonpayment
◉ Credit Accident and Health plans are designed to.
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.
Answer: fee-for-service
◉ An insurance company ONLY pay a sales commission to.
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?.
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.
Answer: 100% of the billed amount
, ◉ What is the maximum fine for a producer violating an NJ
insurance law for the first time?.
Answer: $5000
◉ A licensed producer is required to file notice to any changes of
address within how many days.
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?.
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?.
Answer: File written proof of loss
◉ Which of the following is an example of the insured's
consideration?.
Answer: A paid premium
ACTUAL 2026 FINAL EXAM CORE CONCEPTS
AND PRACTICE MATERIALS PACKAGE
◉ The Mandatory health policy provision states that the policy,
including endorsements and attached papers, constitutes.
Answer: The entire insurance contract between the parties
◉ The entire contract includes the actual policy and the.
Answer: application
◉ employer sponsored group health insurance provides coverage
for which of the following.
Answer: Alcoholism
◉ The term which describes the fact that both parties of a contract
may not receive the same value is referred to as.
Answer: Aleatory
◉ Tom has a home health care benefit and is confined to his home.
Which of these is NOT typically covered.
Answer: Full-time nursing care
,◉ A Medicare Supplement policy can be cancelled by the insurer for.
Answer: Nonpayment
◉ Credit Accident and Health plans are designed to.
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.
Answer: fee-for-service
◉ An insurance company ONLY pay a sales commission to.
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?.
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.
Answer: 100% of the billed amount
, ◉ What is the maximum fine for a producer violating an NJ
insurance law for the first time?.
Answer: $5000
◉ A licensed producer is required to file notice to any changes of
address within how many days.
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?.
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?.
Answer: File written proof of loss
◉ Which of the following is an example of the insured's
consideration?.
Answer: A paid premium
