NJ LIFE AND HEALTH XCEL
QUESTIONS (POST COURSE EXAM)
COMPLETE SOLUTIONS
what accurately describes a reduced paid-up nonforfeiture option - ANSWER-policy
face amount has decreased
must submit proof of loss within how many days - ANSWER-90
how many days to notify change of address - ANSWER-30
what doesn't provide a form of managed care - ANSWER-major medical indemnity
plan
what is not true about a branch office - ANSWER-open 9-5, 5 days a week
why would a company retirement plan not receive favorable tax treatment -
ANSWER-it is temporary
new jersey life and health guaranty association protects life insurance death benefits
claims up to - ANSWER-$500000
what would a insurer consider when determining whether to accept a group life plan -
ANSWER-average age
in advertising of individual life policies, and "introductory" or "special enrolment: may
nit be made available until any previous enrolment period has closed for ____
months - ANSWER-3
what allows a insurer to modify policy benefit rates when there is a change to a
hazardous occupation - ANSWER-change of occupation provision
how does one become eligible for part d: persecution drug coverage - ANSWER-
must have Medicare coverage
group health plan can deny based on - ANSWER-part time employment
under group life, who gets a certificate - ANSWER-employee
what rider pays a death benefit if the insured’s spouse dies - ANSWER-family term
insurance rider
which settlement pays a stated amount to an annuitant, but no residual value to
beneficiary - ANSWER-life income
analysis of applicants personal information and determining whether insurance
should be issued or declined - ANSWER-underwriting
, in NJ group health cannot be issued to - ANSWER-college seminar participants
a person with an individual health plan is issued a ______ - ANSWER-policy
what plan is best if a Medicare individual thinks Medicare wont pay for charges
exceeding approved amount - ANSWER-Medicare supplement plan F
what is not a source of underwriting for life or health insurance - ANSWER-
disclosure authorization reports
what does an indemnity plan do - ANSWER-provides the insured specific dollar
amount for services
The commissioner determines an individual has engaged in an act violation state
insurance laws, what can he order - ANSWER-stop engaging in those acts
what is medicaid funded by - ANSWER-Federal, state, and local taxes
Who is retained at the expense of the insurance buyer to give advice on insurance
needed - ANSWER-Brokers and Consultants
Insurance company out of the practicing state is what? - ANSWER-foreign
when does enrolment period begin for Medicare supplements - ANSWER-3 months
after 65th birthday
If a you withdraw from accumulated cash value then what happens - ANSWER-net
death benefits will be reduced if the loan is not paid back
what does a life insurance policy guarantee to beneficiary upon insureds death -
ANSWER-specific amount of money
who is paid on a fee for service basis - ANSWER-provider
what must be included in Medicare supplement policies - ANSWER-pre-existing
conditions may only be excluded from coverage for max of 6 months
what does the commissioner do when a subpoena is not responded to - ANSWER-
impose administrative penalty
if a client keeps an existing policy but borrows more than _____ of its cash value in
order to use the money for anew policy, replacement has occurred - ANSWER-25%
what settlement option involves insurer holding proceeds and paying monthly
earnings to beneficiary - ANSWER-interest only
Tax treatment for contributions to Roth IRA - ANSWER-contributions are not tax
delectable
QUESTIONS (POST COURSE EXAM)
COMPLETE SOLUTIONS
what accurately describes a reduced paid-up nonforfeiture option - ANSWER-policy
face amount has decreased
must submit proof of loss within how many days - ANSWER-90
how many days to notify change of address - ANSWER-30
what doesn't provide a form of managed care - ANSWER-major medical indemnity
plan
what is not true about a branch office - ANSWER-open 9-5, 5 days a week
why would a company retirement plan not receive favorable tax treatment -
ANSWER-it is temporary
new jersey life and health guaranty association protects life insurance death benefits
claims up to - ANSWER-$500000
what would a insurer consider when determining whether to accept a group life plan -
ANSWER-average age
in advertising of individual life policies, and "introductory" or "special enrolment: may
nit be made available until any previous enrolment period has closed for ____
months - ANSWER-3
what allows a insurer to modify policy benefit rates when there is a change to a
hazardous occupation - ANSWER-change of occupation provision
how does one become eligible for part d: persecution drug coverage - ANSWER-
must have Medicare coverage
group health plan can deny based on - ANSWER-part time employment
under group life, who gets a certificate - ANSWER-employee
what rider pays a death benefit if the insured’s spouse dies - ANSWER-family term
insurance rider
which settlement pays a stated amount to an annuitant, but no residual value to
beneficiary - ANSWER-life income
analysis of applicants personal information and determining whether insurance
should be issued or declined - ANSWER-underwriting
, in NJ group health cannot be issued to - ANSWER-college seminar participants
a person with an individual health plan is issued a ______ - ANSWER-policy
what plan is best if a Medicare individual thinks Medicare wont pay for charges
exceeding approved amount - ANSWER-Medicare supplement plan F
what is not a source of underwriting for life or health insurance - ANSWER-
disclosure authorization reports
what does an indemnity plan do - ANSWER-provides the insured specific dollar
amount for services
The commissioner determines an individual has engaged in an act violation state
insurance laws, what can he order - ANSWER-stop engaging in those acts
what is medicaid funded by - ANSWER-Federal, state, and local taxes
Who is retained at the expense of the insurance buyer to give advice on insurance
needed - ANSWER-Brokers and Consultants
Insurance company out of the practicing state is what? - ANSWER-foreign
when does enrolment period begin for Medicare supplements - ANSWER-3 months
after 65th birthday
If a you withdraw from accumulated cash value then what happens - ANSWER-net
death benefits will be reduced if the loan is not paid back
what does a life insurance policy guarantee to beneficiary upon insureds death -
ANSWER-specific amount of money
who is paid on a fee for service basis - ANSWER-provider
what must be included in Medicare supplement policies - ANSWER-pre-existing
conditions may only be excluded from coverage for max of 6 months
what does the commissioner do when a subpoena is not responded to - ANSWER-
impose administrative penalty
if a client keeps an existing policy but borrows more than _____ of its cash value in
order to use the money for anew policy, replacement has occurred - ANSWER-25%
what settlement option involves insurer holding proceeds and paying monthly
earnings to beneficiary - ANSWER-interest only
Tax treatment for contributions to Roth IRA - ANSWER-contributions are not tax
delectable
