NJ LIFE AND HEALTH XCEL QUESTIONS POST COURSE

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NJ LIFE AND HEALTH XCEL QUESTIONS (POST COURSE

EXAM) EXAM QUESTIONS

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: under group life, who gets a certificate

Answer:

employee

Question 2: What is not a core benefit of medicare supplement plan A

Answer:

Deductible payments for the first 60 days of hospitalization under medical hospitalization insurance Question 3: what option would be chosen if a policy owners money was invested and add any interest earnings as the dividends accrue

Answer:

accumulation at interest option Question 4: double indemnity provision in life insurance pertains to insureds death caused by

Answer:

accident

Question 5: must submit proof of loss within how many days

Answer:

90

Question 6: what is not a source of underwriting for life or health insurance

Answer:

disclosure authorization reports

Question 7: Insurance company out of the practicing state is what?

Answer:

foreign

Question 8: unfair trade practices can impose how much for each violation

Answer:

$5000

Question 9: What life insurance is subject to interest rates

Answer:

Universal Life Question 10: when a medicare supplement policy is purchased during the open enrollment period what happens

Answer:

policy must be issued regardless of health status

Question 11: noncollectable policy may

Answer:

never raise premiums

Question 12: when does enrollment period begin for medicare supplements

Answer:

• months after 65th birthday

Question 13: When determining whether a health condition applies, how long can the gap be between the previous health insurance

Answer:

63 days Question 14: Who is retained at the expense of the insurance buyer to give advice on insurance needed

Answer:

Brokers and Consultants Question 15: why does MEC receive different tax treatment than other life insurance policies

Answer:

it is an investment vehicle

Question 16: Tax treatment for contributions to Roth IRA

Answer:

contributions are not tax delectable

Question 17: what is not a medicare advantage plan

Answer:

Social Security disability income (SSDI) Question 18: insurer must furnish claimant forms for filling proof of loss within ____ days upon receiving a notice of claim

Answer:

15 Question 19: claims payable to a disability income insured, even when they can keep working are a result of

Answer:

presumptive disability Question 20: in order to be eligible for a non-resident producer license what must be true

Answer:

the person must hold a comparable license in another state

Question 21: if a client keeps an existing policy but borrows more than _____ of its cash value in order to use the money for anew policy, replacement has occurred

Answer:

25%

Question 22: in NJ group health cannot be issued to

Answer:

college seminar particpants Question 23: a group disability income plan that pays tax free benefits to covered employees is considered

Answer:

fully contributory Question 24: The commissioner determines an individual has engaged in an act violation state insurance laws, what can he order

Answer:

stop engaging in those acts Question 25: what does a life insurance policy guarantee to beneficiary upon insureds death

Answer:

specific amount of money

Question 26: what is not included in the "entire contract"

Answer:

changes made by the producer

Question 27: In whole life the accumulation of cash value becomes

Answer:

a policy loan the insured may borrow against

Question 28: what is medicaid funded by

Answer:

Federal, state, and local taxes