NJ Health and Accident Practice
QUESTIONS & ANSWERS 2026 | A+
GRADED 100% VERIFIED
• What does coinsurance mean?
- a policy covers the insured and the any additional named persons
-the insurer and the insured share expenses over the deductible
-the insurer and the insured share ALL expenses
-the policy owner holds multiple policies through the same insurer .
Answer: The insurer and the insured share expenses over the deductible
COINSURANCE IS THE SHARING BETWEEN THE INSURER
AND THE INSURED OF COVERED EXPENSES THAT EXCEED
THE DEDUCTIBLE AMOUNT. THE SHARING ENDS WHEN THE
"STOP LOSS LIMIT" IS REACHED
• The life insurance policy will not be truly effect until all of the
following occur EXCEPT:
-the statement of good health is obtained by the insurer
-the first premium is collected
-the policy is delivered to the applicant
-the producer has explained the policy to the client . Answer: -the
producer has explained the policy to the client
EFFECTIVE DATE BASED ON :
-APP DATE
-IF PREMIUM HAS BEEN PAID
-IF A STATEMENT OF GOOD HEALTH MUST BE OBTAINED IF
PREMIUM WAS NOT SUBMITTED WITH APPLICATION
, • Which of the following coverage types pays a monthly cash benefit
following the elimination period for total disability due to accident or
sickness?
-credit disability
-works comp disability
-recurrent disability
-disability income . Answer: -disability income insurance
PROVIDES PAYMENT OF REGULAR PERIODIC INCOME
SHOULD THE INSURED BECOME DISABLED FROM ILLNESS
OR INJURY
• The period beginning at the time of an insured loss that an insured
must wait before benefits are payable is called the:
-probationary period
-benefit period
-elimination period
-grace period . Answer: -elimination period
THE TIME PERIOD STARTING AT THE TIME OF LOSS, SUCH AS
A DISABILITY, THAT AN INSURED MUST WAIT BEFORE
BENEFITS ARE PAYABLE
• Managed care plans increase efficiency by all of the following
EXCEPT:
-transferring the management of costs to the insureds
-controlling inpatient admissions and length of stay
-increasing beneficiary cost sharing
-selectively contracting with health care providers . Answer: -
transferring the management of costs to the insureds
MANAGED CARE PLANS ARE DESIGNED TO USE COST
SAVING SERVICES BY USING CLOSED NETWORKS AND
MANAGING HEALTH CARE WITH THESE NETWORKS
QUESTIONS & ANSWERS 2026 | A+
GRADED 100% VERIFIED
• What does coinsurance mean?
- a policy covers the insured and the any additional named persons
-the insurer and the insured share expenses over the deductible
-the insurer and the insured share ALL expenses
-the policy owner holds multiple policies through the same insurer .
Answer: The insurer and the insured share expenses over the deductible
COINSURANCE IS THE SHARING BETWEEN THE INSURER
AND THE INSURED OF COVERED EXPENSES THAT EXCEED
THE DEDUCTIBLE AMOUNT. THE SHARING ENDS WHEN THE
"STOP LOSS LIMIT" IS REACHED
• The life insurance policy will not be truly effect until all of the
following occur EXCEPT:
-the statement of good health is obtained by the insurer
-the first premium is collected
-the policy is delivered to the applicant
-the producer has explained the policy to the client . Answer: -the
producer has explained the policy to the client
EFFECTIVE DATE BASED ON :
-APP DATE
-IF PREMIUM HAS BEEN PAID
-IF A STATEMENT OF GOOD HEALTH MUST BE OBTAINED IF
PREMIUM WAS NOT SUBMITTED WITH APPLICATION
, • Which of the following coverage types pays a monthly cash benefit
following the elimination period for total disability due to accident or
sickness?
-credit disability
-works comp disability
-recurrent disability
-disability income . Answer: -disability income insurance
PROVIDES PAYMENT OF REGULAR PERIODIC INCOME
SHOULD THE INSURED BECOME DISABLED FROM ILLNESS
OR INJURY
• The period beginning at the time of an insured loss that an insured
must wait before benefits are payable is called the:
-probationary period
-benefit period
-elimination period
-grace period . Answer: -elimination period
THE TIME PERIOD STARTING AT THE TIME OF LOSS, SUCH AS
A DISABILITY, THAT AN INSURED MUST WAIT BEFORE
BENEFITS ARE PAYABLE
• Managed care plans increase efficiency by all of the following
EXCEPT:
-transferring the management of costs to the insureds
-controlling inpatient admissions and length of stay
-increasing beneficiary cost sharing
-selectively contracting with health care providers . Answer: -
transferring the management of costs to the insureds
MANAGED CARE PLANS ARE DESIGNED TO USE COST
SAVING SERVICES BY USING CLOSED NETWORKS AND
MANAGING HEALTH CARE WITH THESE NETWORKS
