NJ Life & Health State Exam State Exam
Simulator Questions and Answers
1. What is a corridor in relation to a Universal Life insurance policy?
ANS the gap between the total death benefit and the policy's cash value
2. Major medical insurance will typically cover medical expenses
that result from
ANS a negative reaction to prescribed medication
3. Which of the following is a reinstatement condition?
ANS proof of insurability
4. Which of the following is NOT a duty of the Commissioner?
ANS establish insurer rates
5. Sole proprietors are permitted tax deductions for health costs paid
from their earnings in the amount of
ANS 100% of costs
6. The premium for a Modified whole life policy is
ANS lower than the typical whole life policy during the first few years then higher than
typical for the remainder
,7. Which of these is NOT considered a form of life insurance
advertisement?
ANS -
Buyer's Guide
8. Which of the following designations is regulated by the Department
of Bank- ing and Insurance?
ANS Certified Insurance Counselor
9. Which of these factors is NOT taken into account when
determining an applicant's life insurance needs?
ANS automobile
10. Which type of policy combines the flexibility of a universal
life policy with investment choices?
ANS variable universal life policy
11. The period in which there are no Social Security benefits for
the surviving spouse is called the
ANS blackout period
12. Maria the agent would like to advertise an annuity product
on a highway billboard. Which of the following must be included in
the advertisement?
, ANS Her name
13. Dana is an employee who deposits a percentage of her
income into her individual annuity. Her company also contributes a
percentage into a separate company pension plan. What kind of
annuity is this considered?
ANS Qualified Retirement Annuity
14. Which of these may NOT be used in a health insurance
advertisement?
ANS An insurance company's trademark instead of the company's actual name
15. The elimination period under a hospital indemnity plan is
ANS the specified number of days an insured must wait before becoming eligible to receive
benefits for each hospitalization
16. All of the following are qualifications for establishing a
health savings ac- count (HSA) EXCEPT
ANS enrolled in a health plan with a prescription drug benefit
17. Which of these is NOT a qualifying event for Medicare?
ANS Falling below the federal poverty level
18. Nina just
Simulator Questions and Answers
1. What is a corridor in relation to a Universal Life insurance policy?
ANS the gap between the total death benefit and the policy's cash value
2. Major medical insurance will typically cover medical expenses
that result from
ANS a negative reaction to prescribed medication
3. Which of the following is a reinstatement condition?
ANS proof of insurability
4. Which of the following is NOT a duty of the Commissioner?
ANS establish insurer rates
5. Sole proprietors are permitted tax deductions for health costs paid
from their earnings in the amount of
ANS 100% of costs
6. The premium for a Modified whole life policy is
ANS lower than the typical whole life policy during the first few years then higher than
typical for the remainder
,7. Which of these is NOT considered a form of life insurance
advertisement?
ANS -
Buyer's Guide
8. Which of the following designations is regulated by the Department
of Bank- ing and Insurance?
ANS Certified Insurance Counselor
9. Which of these factors is NOT taken into account when
determining an applicant's life insurance needs?
ANS automobile
10. Which type of policy combines the flexibility of a universal
life policy with investment choices?
ANS variable universal life policy
11. The period in which there are no Social Security benefits for
the surviving spouse is called the
ANS blackout period
12. Maria the agent would like to advertise an annuity product
on a highway billboard. Which of the following must be included in
the advertisement?
, ANS Her name
13. Dana is an employee who deposits a percentage of her
income into her individual annuity. Her company also contributes a
percentage into a separate company pension plan. What kind of
annuity is this considered?
ANS Qualified Retirement Annuity
14. Which of these may NOT be used in a health insurance
advertisement?
ANS An insurance company's trademark instead of the company's actual name
15. The elimination period under a hospital indemnity plan is
ANS the specified number of days an insured must wait before becoming eligible to receive
benefits for each hospitalization
16. All of the following are qualifications for establishing a
health savings ac- count (HSA) EXCEPT
ANS enrolled in a health plan with a prescription drug benefit
17. Which of these is NOT a qualifying event for Medicare?
ANS Falling below the federal poverty level
18. Nina just
