1
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Final Exam - New Jersey Life and Health
Questions and Answers (100% Correct
Answers) Already Graded A+
Which type of long-term care benefit would be most appropriate
for a stroke victim who requires speech therapy administered at
her home? [ Ans: ] Home health care
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Which of the following is NOT a federal requirement of a qualified
plan? [ Ans: ] Employee must be able to make unlimited
contributions
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Why are dividends from a mutual insurer not subject to taxation? [
Ans: ] Because dividends are considered to be a return of
premium
The treasurer of XYZ Insurance Company discovers that the
treasurer's company is being investigated by the Banking and
Insurance Commissioner... [ Ans: ] Making false financial
statements
Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies? [ Ans: ]
Payor benefit
Which of these premium payment frequencies is not typically
available to a policy owner? [ Ans: ] Bi-weekly
, 2
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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
Which disability policy provision would address any concerns of
the value of the benefits decreasing over time? [ Ans: ] Cost of
living benefit
Which of these is NOT a characteristic of the Accelerated Death
Benefit option? [ Ans: ] The benefit can be offered as a rider at a
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specific extra cost or may be at no cost
All of the following are included as part of a contract in the entire
contract provision EXCEPT the [ Ans: ] Changes made by the
Guru01 - Stuvia
producer
The power given to an individual producer that is not specifically
addressed in his/her contract is considered what type of
authority? [ Ans: ] Implied
Pat is insured with a life insurance policy and Karen is his primary
beneficiary. They are both involved in an automobile accident
where Pat dies instantly and Karen dies 5 days later... [ Ans: ]
Common disaster clause
Key Person Disability Insurance pays benefits to the [ Ans: ]
Employer
Under a disability income policy, which provision would be
payable if the cause of an injury is unexpected and accidental? [
Ans: ] Accidental bodily injury provision
, 3
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What will the beneficiary receive if an annuitant dies during the
accumulation period? [ Ans: ] The greater of the accumulated
cash value or the total premium paid
Written notice for a health claim must be given to the insurer ___
days after the occurrence of the loss. [ Ans: ] 20
Craig submits a $500 claim for medical expenses. With a past due
premium of $100, the insurer pays $400. Which of the Uniform
Optional Provisions covers this situation? [ Ans: ] Unpaid premium
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How many employees must an employer have for a terminated
employee to be eligible for COBRA? [ Ans: ] 20
Guru01 - Stuvia
A licensed producer is required to file notice of any change of
address within how many days? [ Ans: ] 30
Advertising material for a life insurance policy does NOT need to
contain which of the following? [ Ans: ] Agent's commission rate
What is the maximum fine for a producer violating a New Jersey
Insurance law for the first time? [ Ans: ] $5,000
How long must an individual be unable to engage in any gainful
activity due physical or mental disability in order to qualify for
Social Security Total Disability? [ Ans: ] 12 months
Sonya applied for a health insurance policy on April 1. Her agent
submitted the information to the insurance company on April 6.
She paid the premium on May 15 with the policy indicating the
effective date being May 30. On which date would Sonya have
coverage? [ Ans: ] May 30
For Expert help and assignment solutions, +254707240657
Final Exam - New Jersey Life and Health
Questions and Answers (100% Correct
Answers) Already Graded A+
Which type of long-term care benefit would be most appropriate
for a stroke victim who requires speech therapy administered at
her home? [ Ans: ] Home health care
© 2025 Assignment Expert
Which of the following is NOT a federal requirement of a qualified
plan? [ Ans: ] Employee must be able to make unlimited
contributions
Guru01 - Stuvia
Why are dividends from a mutual insurer not subject to taxation? [
Ans: ] Because dividends are considered to be a return of
premium
The treasurer of XYZ Insurance Company discovers that the
treasurer's company is being investigated by the Banking and
Insurance Commissioner... [ Ans: ] Making false financial
statements
Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies? [ Ans: ]
Payor benefit
Which of these premium payment frequencies is not typically
available to a policy owner? [ Ans: ] Bi-weekly
, 2
For Expert help and assignment solutions, +254707240657
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
Which disability policy provision would address any concerns of
the value of the benefits decreasing over time? [ Ans: ] Cost of
living benefit
Which of these is NOT a characteristic of the Accelerated Death
Benefit option? [ Ans: ] The benefit can be offered as a rider at a
© 2025 Assignment Expert
specific extra cost or may be at no cost
All of the following are included as part of a contract in the entire
contract provision EXCEPT the [ Ans: ] Changes made by the
Guru01 - Stuvia
producer
The power given to an individual producer that is not specifically
addressed in his/her contract is considered what type of
authority? [ Ans: ] Implied
Pat is insured with a life insurance policy and Karen is his primary
beneficiary. They are both involved in an automobile accident
where Pat dies instantly and Karen dies 5 days later... [ Ans: ]
Common disaster clause
Key Person Disability Insurance pays benefits to the [ Ans: ]
Employer
Under a disability income policy, which provision would be
payable if the cause of an injury is unexpected and accidental? [
Ans: ] Accidental bodily injury provision
, 3
For Expert help and assignment solutions, +254707240657
What will the beneficiary receive if an annuitant dies during the
accumulation period? [ Ans: ] The greater of the accumulated
cash value or the total premium paid
Written notice for a health claim must be given to the insurer ___
days after the occurrence of the loss. [ Ans: ] 20
Craig submits a $500 claim for medical expenses. With a past due
premium of $100, the insurer pays $400. Which of the Uniform
Optional Provisions covers this situation? [ Ans: ] Unpaid premium
© 2025 Assignment Expert
How many employees must an employer have for a terminated
employee to be eligible for COBRA? [ Ans: ] 20
Guru01 - Stuvia
A licensed producer is required to file notice of any change of
address within how many days? [ Ans: ] 30
Advertising material for a life insurance policy does NOT need to
contain which of the following? [ Ans: ] Agent's commission rate
What is the maximum fine for a producer violating a New Jersey
Insurance law for the first time? [ Ans: ] $5,000
How long must an individual be unable to engage in any gainful
activity due physical or mental disability in order to qualify for
Social Security Total Disability? [ Ans: ] 12 months
Sonya applied for a health insurance policy on April 1. Her agent
submitted the information to the insurance company on April 6.
She paid the premium on May 15 with the policy indicating the
effective date being May 30. On which date would Sonya have
coverage? [ Ans: ] May 30
