Health Final Exam - NJ Accident and Health Questions and Answers
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Course
Health - NJ Accident and Health
Institution
Health - NJ Accident And Health
Health Final Exam - NJ Accident
and Health Questions and
Answers
A health insurance policy where the insurer has the right to terminate
the policy for reasons other than the insured's health is called - ANSConditionally renewable
Small employers who are sponsored by an insurer to provide ...
Health Final Exam - NJ Accident
and Health Questions and
Answers
A health insurance policy where the insurer has the right to terminate
the policy for reasons other than the insured's health is called - ANS-
Conditionally renewable
Small employers who are sponsored by an insurer to provide group
benefits to its employees are called - ANS-MEWA
A 10% excise tax is normally applied to an early withdrawal from an
IRA. According to HIPAA, this tax will not be applied if the withdrawal is
used for medical expenses that exceed ____ of the individual's adjusted
gross income. - ANS-7.5%
An attending physician's statement would be appropriate for which life
insurance purpose? - ANS-At the request of the insurer to assist in the
underwriting decision
A disability income policy can prevent an insured from earning a higher
income if he/she were working by utilizing - ANS-Benefit limits
The purpose of Medicare Supplement Insurance is to address gaps in
Medicare coverage, which can include: - ANS-Medicare in-hospital
deductible
What is the process for a producer voluntarily terminating his/her
license? - ANS-Returning his/her license to the Banking and Insurance
department
,An indemnity plan - ANS-provides the insured a specific dollar amount
for services
Publishing information which is false and maliciously critical to an
insurer is intended to cause injury is a prohibited practice known as -
ANS-defamation
The Commissioner must approve - ANS-Continuing education courses
Employer sponsored group health insurance provides coverage for
which of the following?
Self-inflicted injuries
cosmetic surgery
custodial care
alcoholism - ANS-alcoholism
A Medicare supplement policy can be cancelled by the insurer for -
ANS-Nonpayment
Which entity is responsible for regulating insurance advertising in NJ? -
ANS-New Jersey Department of Banking and Insurance
Which of the following are retained at the expense of an insurance
buyer to give advice on insurance needed by the buyer?
Brokers and consultants
Insurance prospectors
Third-party adminstrators
Agents - ANS-Brokers and consultants
Written notice for a health claim must be given to the insurer ___ days
after the occurrence of the loss. - ANS-20
, In which of the following situations would the insurer be liable for a
loss?
a) The insured skipped a payment beyond the 31 day grace period
b) The insured was injured while participating in an illegal occupation
c) The insured was given a notice of cancellation from the insurer
d) The insured suffered an injury as an innocent bystander during a
bank robbery - ANS-d) The insured suffered an injury as an innocent
bystander during a bank robbery
When a Medicare supplement policy is purchased during the open
enrollment period - ANS-The policy must be issued regardless of health
status
In what form do disability income policies typically pay benefits? - ANS-
Periodic income
What is considered to be the primary reason for buying life insurance? -
ANS-Provide death benefits
A newborn is required to be covered for ____ days from the moment of
birth - ANS-30
Once an accident and health insurance policy has been in force for ___
year(s), the policy may NOT be contested by the insurer - ANS-2
A doctor who accepts Medicare assignment agrees to which of the
following
- Doctor may charge up to a maximum of 15% more than Medicare
pays for the service
- Doctor is not bound by Medicare's limitations on charges
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