New Jersey Life and Health Final Exam Actual 2025
Questions and Verified Answers ()/ A+
GRADE COMPLETE.
/. Which type of long-term care benefit would be most appropriate for a stroke victim
who requires speech therapy administered at her home? - Answer-✅Home health care
/.Which of the following is NOT a federal requirement of a qualified plan? - Answer-
✅Employee must be able to make unlimited contributions
/.Why are dividends from a mutual insurer not subject to taxation? - Answer-✅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... - Answer-✅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? - Answer-✅Payor benefit
/.Which of these premium payment frequencies is not typically available to a policy
owner? - Answer-✅Bi-weekly
/.Maria the agent would like to advertise an annuity product on a highway billboard.
Which of the following must be included in the advertisement? - Answer-✅Her name
/.Which disability policy provision would address any concerns of the value of the
benefits decreasing over time? - Answer-✅Cost of living benefit
/.Which of these is NOT a characteristic of the Accelerated Death Benefit option? -
Answer-✅The benefit can be offered as a rider at a 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 - Answer-✅Changes made by the producer
/.The power given to an individual producer that is not specifically addressed in his/her
contract is considered what type of authority? - Answer-✅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... - Answer-✅Common disaster clause
/.Key Person Disability Insurance pays benefits to the - Answer-✅Employer
/.Under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental? - Answer-✅Accidental bodily injury provision
/.What will the beneficiary receive if an annuitant dies during the accumulation period? -
Answer-✅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. - Answer-✅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? -
Answer-✅Unpaid premium
/.How many employees must an employer have for a terminated employee to be eligible
for COBRA? - Answer-✅20
/.A licensed producer is required to file notice of any change of address within how
many days? - Answer-✅30
/.Advertising material for a life insurance policy does NOT need to contain which of the
following? - Answer-✅Agent's commission rate
/.What is the maximum fine for a producer violating a New Jersey Insurance law for the
first time? - Answer-✅$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? - Answer-✅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? - Answer-✅May 30
/.Under a life insurance policy, what does the insuring clause state? - Answer-✅The
insurer's obligation to pay a death benefit upon an approved death claim
, /.Jennifer is required to pay a specific sum out of pocket before any benefits are paid in
a year. Her health policy most likely contains a(n) - Answer-✅deductible
/.How often must an insurance producer's license in New Jersey be renewed? - Answer-
✅Every two years
/.Pierre the producer receives a premium for an individual health insurance policy.
Pierre MUST remit the premium to his insurer within ___ business days of receipt. -
Answer-✅7
/.A life insurance policy normally contains a provision that restricts coverage in the event
of death under all of the following situations EXCEPT - Answer-✅fare-paying passenger
/.An insurance consultant is BEST defines as a - Answer-✅producer who charges fees
for advice
/.An insurance company needs to obtain personal information from a third party
concerning an applicant. Which law do all insurers and their producers need to comply
with? - Answer-✅Fair Credit Reporting Act
/.A professional liability for which producers can be sued for mistakes of putting a policy
into effect is called - Answer-✅Errors and Omissions
/.The Commissioner issues a subpoena to a producer. The producer decides not to
respond. Which course of action must be taken by the Commissioner? - Answer-
✅Commissioner may impose an administrative penalty
/.A Medicare Supplement basic benefit is - Answer-✅The first 3 pints of blood per year
/.Krissa purchases a 10-year level term life insurance policy that has a death benefit of
$200,000. Which of these statements is true? - Answer-✅The face amount and the
premium will remain constant over the 10-year period
/.What amount will be paid under a policy where the insured misstated his/her age? -
Answer-✅An amount the premium would have purchased at the correct age
/.Within how many days must a producer notify the Department of Banking and
Insurance of a change in address? - Answer-✅30
/.Which type of coverage pays an amount per day for hospitalization directly to the
insured regardless of the insured's other health insurance? - Answer-✅Hospital Identity
Questions and Verified Answers ()/ A+
GRADE COMPLETE.
/. Which type of long-term care benefit would be most appropriate for a stroke victim
who requires speech therapy administered at her home? - Answer-✅Home health care
/.Which of the following is NOT a federal requirement of a qualified plan? - Answer-
✅Employee must be able to make unlimited contributions
/.Why are dividends from a mutual insurer not subject to taxation? - Answer-✅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... - Answer-✅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? - Answer-✅Payor benefit
/.Which of these premium payment frequencies is not typically available to a policy
owner? - Answer-✅Bi-weekly
/.Maria the agent would like to advertise an annuity product on a highway billboard.
Which of the following must be included in the advertisement? - Answer-✅Her name
/.Which disability policy provision would address any concerns of the value of the
benefits decreasing over time? - Answer-✅Cost of living benefit
/.Which of these is NOT a characteristic of the Accelerated Death Benefit option? -
Answer-✅The benefit can be offered as a rider at a 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 - Answer-✅Changes made by the producer
/.The power given to an individual producer that is not specifically addressed in his/her
contract is considered what type of authority? - Answer-✅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... - Answer-✅Common disaster clause
/.Key Person Disability Insurance pays benefits to the - Answer-✅Employer
/.Under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental? - Answer-✅Accidental bodily injury provision
/.What will the beneficiary receive if an annuitant dies during the accumulation period? -
Answer-✅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. - Answer-✅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? -
Answer-✅Unpaid premium
/.How many employees must an employer have for a terminated employee to be eligible
for COBRA? - Answer-✅20
/.A licensed producer is required to file notice of any change of address within how
many days? - Answer-✅30
/.Advertising material for a life insurance policy does NOT need to contain which of the
following? - Answer-✅Agent's commission rate
/.What is the maximum fine for a producer violating a New Jersey Insurance law for the
first time? - Answer-✅$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? - Answer-✅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? - Answer-✅May 30
/.Under a life insurance policy, what does the insuring clause state? - Answer-✅The
insurer's obligation to pay a death benefit upon an approved death claim
, /.Jennifer is required to pay a specific sum out of pocket before any benefits are paid in
a year. Her health policy most likely contains a(n) - Answer-✅deductible
/.How often must an insurance producer's license in New Jersey be renewed? - Answer-
✅Every two years
/.Pierre the producer receives a premium for an individual health insurance policy.
Pierre MUST remit the premium to his insurer within ___ business days of receipt. -
Answer-✅7
/.A life insurance policy normally contains a provision that restricts coverage in the event
of death under all of the following situations EXCEPT - Answer-✅fare-paying passenger
/.An insurance consultant is BEST defines as a - Answer-✅producer who charges fees
for advice
/.An insurance company needs to obtain personal information from a third party
concerning an applicant. Which law do all insurers and their producers need to comply
with? - Answer-✅Fair Credit Reporting Act
/.A professional liability for which producers can be sued for mistakes of putting a policy
into effect is called - Answer-✅Errors and Omissions
/.The Commissioner issues a subpoena to a producer. The producer decides not to
respond. Which course of action must be taken by the Commissioner? - Answer-
✅Commissioner may impose an administrative penalty
/.A Medicare Supplement basic benefit is - Answer-✅The first 3 pints of blood per year
/.Krissa purchases a 10-year level term life insurance policy that has a death benefit of
$200,000. Which of these statements is true? - Answer-✅The face amount and the
premium will remain constant over the 10-year period
/.What amount will be paid under a policy where the insured misstated his/her age? -
Answer-✅An amount the premium would have purchased at the correct age
/.Within how many days must a producer notify the Department of Banking and
Insurance of a change in address? - Answer-✅30
/.Which type of coverage pays an amount per day for hospitalization directly to the
insured regardless of the insured's other health insurance? - Answer-✅Hospital Identity
