NJ Health and Accident Questions and Answers 100% Verified

NJ Health and Accident Questions and Answers 100% Verified


1. In what form do disability income policies typically pay benefits: Periodic income
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2. The Mandatory health policy provision states that the policy, including endorsements
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and attached papers, constitutes: The entire insurance contract between the parties
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3. The entire contract includes the actual policy and the: application
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4. employer sponsored group health insurance provides coverage for which of the follow
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ing: Alcoholism g


5. The term which describes the fact that both parties of a contract may not receive the
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same value is referred to as: Aleatory
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6. Tom has a home health care benefit and is confined to his home. Which of these is NOT
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gtypically covered: Full-time nursing care g g g g


7. A Medicare Supplement policy can be cancelled by the insurer for: Nonpay- ment
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8. Credit Accident and Health plans are designed to: help pay off existing loans during perio
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ds of disability
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9. A payment system for health care in which the provider is paid for each service give
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n is called: fee-for-service
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10. An insurance company ONLY pay a sales commission to: individuals li-
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gcensed by the state g g g


11. Ken is a producer who has obtained Consumer Information Reports under false preten
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ses. Under the Fair Credit Reporting Act, what is the maximum penalty that may be impos
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ed on Ken?: $5000 and 1 year imprisonment
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12. A closed network plan offers a primary physician copay of $25. If a subscriber ch
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ooses a primary care physician outside of the network, the subscriber will likely pay:
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100% of the billed amount g g g g


13. What is the maximum fine for a producer violating an NJ insurance law for the first time
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?: $5000g


14. A licensed producer is required to file notice to any changes of address within how
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many days: 30 days g g g


15. Jonas has disability insurance through his employer. The employer pays 75% of the pr
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, emium, and Jonas pays the other 25%. What is Jonas's tax liability for any benefits paid fr
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om the disability plan?: Taxes must be paid on 75% of the benefits received
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16. After an insured gives notice of loss, what must he/she do if the insurer does not fur
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nish forms?: File written proof of loss
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17. Which of the following is an example of the insured's consideration?: A paid premiu
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m




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