NJ Health and Accident Questions and Answers 100% Pass
In what form do disability income policies typically pay benefits ✔✔Periodic income
The Mandatory health policy provision states that the policy, including endorsements and attached papers, constitutes ✔✔The entire insurance contract between the parties
The entire contract includes the actual policy and the ✔✔application
employer sponsored group health insurance provides coverage for which of the following ✔✔Alcoholism
The term which describes the fact that both parties of a contract may not receive the same value is referred to as ✔✔Aleatory
Tom has a home health care benefit and is confined to his home. Which of these is NOT typically covered ✔✔Full-time nursing care
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A Medicare Supplement policy can be cancelled by the insurer for ✔✔Nonpayment
Credit Accident and Health plans are designed to ✔✔help pay off existing loans during periods of disability
A payment system for health care in which the provider is paid for each service given is called ✔✔fee-for-service
An insurance company ONLY pay a sales commission to ✔✔individuals licensed by the state
Ken is a producer who has obtained Consumer Information Reports under false pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that may be imposed on Ken?✔✔$5000 and 1 year imprisonment
A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay ✔✔100% of the billed amount
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What is the maximum fine for a producer violating an NJ insurance law for the first time?
✔✔$5000
A licensed producer is required to file notice to any changes of address within how many days ✔✔30 days
Jonas has disability insurance through his employer. The employer pays 75% of the premium, and Jonas pays the other 25%. What is Jonas's tax liability for any benefits paid from the disability plan? ✔✔Taxes must be paid on 75% of the benefits received
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms?✔✔File written proof of loss
Which of the following is an example of the insured's consideration? ✔✔A paid premium
A(n) _______ insurance company is one that was formed under the laws of a state other than NJ ✔✔Foreign
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