new jersey life and health insurance exambound to the fae characters

The benefit can be offered as a rider at a specific extra cost or may be at no cost. Which of the following may be used as continuation education credit? what does insurance protect against before loss is done? Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? The producer decides not to respond. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. Which of these is NOT a characteristic of the Accelerated Death Benefit option? 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. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. A beneficiary has just received a claim payment for a life insurance policy. \text{Inventories} & \text{159} & \text{Notes payable} & \text{29}\\ These rights are called, A producer who intentionally makes an untrue or incomplete statement in the course of an insurance transaction may be guilty of. Which of the following is Medicare Part B also known as? A long-term care policy typically provides all of the following levels of care EXCEPT, A life insurance policy that has premiums fully paid up within a stated time period is called, A securities license is required for a life insurance producer to sell, In contrast to a guaranteed renewable policy, a noncancellable policy. Which of these will typically authorize treatment from a specialist? Over the course of a year, which premium payment mode is most expensive? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Which of these is NOT a characteristic of the Accelerated Death Benefit option? \begin{matrix} An amount the premium would have purchased at the correct age. Commissioner may impose an administrative penalty. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. Her health policy most likely contains a(n). Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? \text{Net income} & \text{\$ 27.0}\\ Which of the following is NOT part of an insurance contact? The policyholder for a group health benefit plan is considered to be the, A Medicare Supplement policy can be cancelled by the insurer for, As of January 1, 2007, producer's license expires, Every two years on the last day of the producer's birth month, An insurer has the right to recover payment made to the insured from the negligent party. Which of these if NOT considered to be a purpose of an annuity? Which of the following situations would be suitable for a temporary work authority? After passing the state Producer licensing exam, application for the license must be made within, How long must an insurance company keep record on life insurance replacement activity, An insurance company that is organized or chartered in a country other than the United States is defined as, Advertisements of insurance in a local newspaper, must be approved by, Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit, Increase the premiums on an individual basis, Continued coverage under COBRA would be provided to a(n), A covered employee is terminated for gross misconduct, In New Jersey, health insurance advertisements are required to contain the, The purpose of a coordination-of-benefits provision in group health accident and health plans is to, If an insured dies during the grace period with no premiums paid, The policy would be payable, minus the premium amount, A 10% excise tax is normally applied to an early withdrawal from an IRA. EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. To do so, you must undergo a state-approved pre-licensing course and pass the relevant certification exam. What happens to the coverage under a children's term rider when that child reaches a certain specified age? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? Which of the following is an example of defamation? Which of the following is true concerning the proceeds of a life insurance policy? What would happen to the U.S. standard of living if people lost faith in the safety of the financial institutions? A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. Carnes Cosmetics Co.s stock price is $30, and it recently paid a$1.00 dividend. This change is called a(n). Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". The policy's effective date is earlier than the present, A Renewable Term Life insurance policy can be renewed, At a predetermined date or age, regardless of the insured's health, A producer's secretary who solicits prospects on the telephone. What is the purpose of the Medical Information Bureau (MIB)? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Perform an analysis of the firms financial position using the DuPont equation. $\begin{matrix} A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. \text{Interest expense} & \text{4.5}\\ In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Because dividends are considered to be a return of premium. Which of the following does Coordination of Benefits allow? Jay the producer is giving insurance advice regarding a prospect's existing coverage. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. Submit to the replacing insurer a list of the policies to be replaced. \text{Taxes (40\\%)} & \text{18.0}\\ Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Provides the insured a specific dollar amount for services, An example of an unfair method of competition is, Overstating the benefits of an insurance policy, A pharmacy benefit covers prescription drugs derived from a list called, The type of policy which pays on the death of the last person is called, Converting a group plan to permanent life insurance requires, The conversion being applied for within 31 days of termination, Ownership of a life insurance policy may be temporarily transferred with a(n). Which type of disability would be less than total impairment and equal to permanent impairment? There is protection of proceeds against the insured's and the beneficiary's creditors, Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. Medical history from the insured may be reviewed and reported, If an insurer receives a notice of claim under an individual health policy, and fails to provide proof of loss forms within 15 days, the insured must, File a written proof of loss, detailing the occurrence, character and extent of loss. a. An applicant's character and personal habits can be obtained for underwriting purposes from which source? Which of these if NOT considered a form of life insurance advertisement? \text{Cash and equivalents} & \text{\$ 78} & \text{Accounts payable} & \text{\$ 45}\\ Employee must be able to make unlimited contributions. Qualifications to receive a License: Individuals who wish to obtain an insurance license in the State of New Jersey must: 1. Which of the following is a reinstatement condition? What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Which of these is likely to occur when life or health insurance is being applied for? What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? Be at least eighteen (18) years of age. Pierre the producer receives a premium for an individual health insurance policy. \text{Balance Sheet as of December 31, 2016 (millions of Dollars)}\\ Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? This dividend is expected to grow by 30% for the next 3 years, then grow forever at a constant rate, g; and $r_{s}=9 \%$. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Which of these riders will pay a death benefit if the insured's spouse dies? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? 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? Which of the following is the likely result? The face amount and the premium will remain constant over the 10-year period. With a past due premium of $100, the insurer pays $400. Need of a License: An individual who is acting as a Producer needs a license to sell life and health insurance in New Jersey.

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