Nj Accident And Health Producer
Practice Exams Questions And Answers
According bto bthe bTime bPayment bof bClaims bprovision, bthe binsurer bmust bmake bthe
bpayment bimmediately bafter breceiving bproof bof bloss bEXCEPT:
- bif bthe binsured bis bable bto beventually breturn bto bwork b
-if bthe bdeath bis bsuicide bor bdue bto ba bpre bexisting bcondition
-when bthe bpolicy bis bin bthe bincontestability bperiod b
-for bclaims binvolving bperiodic bpayments b- bcorrect banswers✔✔for bclaims binvolving
bperiodic bpayments
INSURERS bMUST bPAY bLUMP bSUM bCLAIMS bIMMEDIATELY bAFTER bRECEIVING
bPROOF bOF bLOSS
What bdoes bcoinsurance bmean?
- ba bpolicy bcovers bthe binsured band bthe bany badditional bnamed bpersons
-the binsurer band bthe binsured bshare bexpenses bover bthe bdeductible b
-the binsurer band bthe binsured bshare bALL bexpenses b
-the bpolicy bowner bholds bmultiple bpolicies bthrough bthe bsame binsurer b- bcorrect
banswers✔✔The binsurer band bthe binsured bshare bexpenses bover bthe bdeductible
COINSURANCE bIS bTHE bSHARING bBETWEEN bTHE bINSURER bAND bTHE
bINSURED bOF bCOVERED bEXPENSES bTHAT bEXCEED bTHE bDEDUCTIBLE
bAMOUNT. bTHE bSHARING bENDS bWHEN bTHE b"STOP bLOSS bLIMIT" bIS
bREACHED
The blife binsurance bpolicy bwill bnot bbe btruly beffect buntil ball bof bthe bfollowing boccur
bEXCEPT:
-the bstatement bof bgood bhealth bis bobtained bby bthe binsurer b
-the bfirst bpremium bis bcollected b
-the bpolicy bis bdelivered bto bthe bapplicant b
-the bproducer bhas bexplained bthe bpolicy bto bthe bclient b- bcorrect banswers✔✔-the
bproducer bhas bexplained bthe bpolicy bto bthe bclient
EFFECTIVE bDATE bBASED bON b:
-APP bDATE
, -IF bPREMIUM bHAS bBEEN bPAID b
-IF bA bSTATEMENT bOF bGOOD bHEALTH bMUST bBE bOBTAINED bIF bPREMIUM
bWAS bNOT bSUBMITTED bWITH bAPPLICATION
Which bof bthe bfollowing bcoverage btypes bpays ba bmonthly bcash bbenefit bfollowing bthe
belimination bperiod bfor btotal bdisability bdue bto baccident bor bsickness?
-credit bdisability b
-works bcomp bdisability
-recurrent bdisability
-disability bincome b- bcorrect banswers✔✔-disability bincome binsurance
PROVIDES bPAYMENT bOF bREGULAR bPERIODIC bINCOME bSHOULD bTHE
bINSURED bBECOME bDISABLED bFROM bILLNESS bOR bINJURY
The bperiod bbeginning bat bthe btime bof ban binsured bloss bthat ban binsured bmust bwait
bbefore bbenefits bare bpayable bis bcalled bthe:
-probationary bperiod b
-benefit bperiod b
-elimination bperiod b
-grace bperiod b- bcorrect banswers✔✔-elimination bperiod b
THE bTIME bPERIOD bSTARTING bAT bTHE bTIME bOF bLOSS, bSUCH bAS bA
bDISABILITY, bTHAT bAN bINSURED bMUST bWAIT bBEFORE bBENEFITS bARE
bPAYABLE
Managed bcare bplans bincrease befficiency bby ball bof bthe bfollowing bEXCEPT:
-transferring bthe bmanagement bof bcosts bto bthe binsureds
-controlling binpatient badmissions band blength bof bstay
-increasing bbeneficiary bcost bsharing
-selectively bcontracting bwith bhealth bcare bproviders b- bcorrect banswers✔✔-
transferring bthe bmanagement bof bcosts bto bthe binsureds b
MANAGED bCARE bPLANS bARE bDESIGNED bTO bUSE bCOST bSAVING bSERVICES
bBY bUSING bCLOSED bNETWORKS bAND bMANAGING bHEALTH bCARE bWITH
bTHESE bNETWORKS
Under ban bindividual bpolicy, band binsured bwho bCANNOT bperform bthe bduties bof
bhis/her bown boccupation bfor ba bspecific bperiod bof btime bis:
-totally bdisabled b
-permanently bdisabled b
-residually bdisabled
-occupationally bdisabled b- bcorrect banswers✔✔-totally bdisabled b
TOTAL bDISABILITY bIS bDEFINED bAS bTHE bINABILITY bOF bINSURED bTO
bPERFORM bALL bTHE bDUTIES bOF bHIS bREGULAR bOCCUPATION bFOR bTHE
bFIRST b24 bMONTHS bAFTER bA bLOSS
Practice Exams Questions And Answers
According bto bthe bTime bPayment bof bClaims bprovision, bthe binsurer bmust bmake bthe
bpayment bimmediately bafter breceiving bproof bof bloss bEXCEPT:
- bif bthe binsured bis bable bto beventually breturn bto bwork b
-if bthe bdeath bis bsuicide bor bdue bto ba bpre bexisting bcondition
-when bthe bpolicy bis bin bthe bincontestability bperiod b
-for bclaims binvolving bperiodic bpayments b- bcorrect banswers✔✔for bclaims binvolving
bperiodic bpayments
INSURERS bMUST bPAY bLUMP bSUM bCLAIMS bIMMEDIATELY bAFTER bRECEIVING
bPROOF bOF bLOSS
What bdoes bcoinsurance bmean?
- ba bpolicy bcovers bthe binsured band bthe bany badditional bnamed bpersons
-the binsurer band bthe binsured bshare bexpenses bover bthe bdeductible b
-the binsurer band bthe binsured bshare bALL bexpenses b
-the bpolicy bowner bholds bmultiple bpolicies bthrough bthe bsame binsurer b- bcorrect
banswers✔✔The binsurer band bthe binsured bshare bexpenses bover bthe bdeductible
COINSURANCE bIS bTHE bSHARING bBETWEEN bTHE bINSURER bAND bTHE
bINSURED bOF bCOVERED bEXPENSES bTHAT bEXCEED bTHE bDEDUCTIBLE
bAMOUNT. bTHE bSHARING bENDS bWHEN bTHE b"STOP bLOSS bLIMIT" bIS
bREACHED
The blife binsurance bpolicy bwill bnot bbe btruly beffect buntil ball bof bthe bfollowing boccur
bEXCEPT:
-the bstatement bof bgood bhealth bis bobtained bby bthe binsurer b
-the bfirst bpremium bis bcollected b
-the bpolicy bis bdelivered bto bthe bapplicant b
-the bproducer bhas bexplained bthe bpolicy bto bthe bclient b- bcorrect banswers✔✔-the
bproducer bhas bexplained bthe bpolicy bto bthe bclient
EFFECTIVE bDATE bBASED bON b:
-APP bDATE
, -IF bPREMIUM bHAS bBEEN bPAID b
-IF bA bSTATEMENT bOF bGOOD bHEALTH bMUST bBE bOBTAINED bIF bPREMIUM
bWAS bNOT bSUBMITTED bWITH bAPPLICATION
Which bof bthe bfollowing bcoverage btypes bpays ba bmonthly bcash bbenefit bfollowing bthe
belimination bperiod bfor btotal bdisability bdue bto baccident bor bsickness?
-credit bdisability b
-works bcomp bdisability
-recurrent bdisability
-disability bincome b- bcorrect banswers✔✔-disability bincome binsurance
PROVIDES bPAYMENT bOF bREGULAR bPERIODIC bINCOME bSHOULD bTHE
bINSURED bBECOME bDISABLED bFROM bILLNESS bOR bINJURY
The bperiod bbeginning bat bthe btime bof ban binsured bloss bthat ban binsured bmust bwait
bbefore bbenefits bare bpayable bis bcalled bthe:
-probationary bperiod b
-benefit bperiod b
-elimination bperiod b
-grace bperiod b- bcorrect banswers✔✔-elimination bperiod b
THE bTIME bPERIOD bSTARTING bAT bTHE bTIME bOF bLOSS, bSUCH bAS bA
bDISABILITY, bTHAT bAN bINSURED bMUST bWAIT bBEFORE bBENEFITS bARE
bPAYABLE
Managed bcare bplans bincrease befficiency bby ball bof bthe bfollowing bEXCEPT:
-transferring bthe bmanagement bof bcosts bto bthe binsureds
-controlling binpatient badmissions band blength bof bstay
-increasing bbeneficiary bcost bsharing
-selectively bcontracting bwith bhealth bcare bproviders b- bcorrect banswers✔✔-
transferring bthe bmanagement bof bcosts bto bthe binsureds b
MANAGED bCARE bPLANS bARE bDESIGNED bTO bUSE bCOST bSAVING bSERVICES
bBY bUSING bCLOSED bNETWORKS bAND bMANAGING bHEALTH bCARE bWITH
bTHESE bNETWORKS
Under ban bindividual bpolicy, band binsured bwho bCANNOT bperform bthe bduties bof
bhis/her bown boccupation bfor ba bspecific bperiod bof btime bis:
-totally bdisabled b
-permanently bdisabled b
-residually bdisabled
-occupationally bdisabled b- bcorrect banswers✔✔-totally bdisabled b
TOTAL bDISABILITY bIS bDEFINED bAS bTHE bINABILITY bOF bINSURED bTO
bPERFORM bALL bTHE bDUTIES bOF bHIS bREGULAR bOCCUPATION bFOR bTHE
bFIRST b24 bMONTHS bAFTER bA bLOSS
