Health Chapter 10 Exam - NJ Laws and Rules, Questions and answers, 100% Accurate, rated A+

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Health Chapter 10 Exam - NJ Laws and Rules, Questions and answers, 100% Accurate, rated A+ An agent is required to keep replacement forms on file for at LEAST ____ years - ✔✔-5 The New Jerse... y Life and Health Insurance Guaranty Association is - ✔✔-Funded by assessments on member companies Continuing Education credits may be approved for which of the following? - ✔✔-Ethics The New Jersey Temporary Disability Benefits law - ✔✔-Provides non-occupational disability benefits The law that established insurance transactions should be regulated by the states is called the - ✔✔- McCarran-Ferguson Act Which of the following situations would be suitable for a temporary work authority? When a producer's license is suspended and an appeal date is set When an applicant completes an approved prelicensing course When an applicant passes a licensing examination and answers all background questions negatively When an applicant fails the licensing examination and is waiting to take another test - ✔✔-When an applicant passes a licensing examination and answers all background questions negatively Which of the following is MANDATORY coverage for all group health care service contracts? Treatment for alcoholism Short-term disability Custodial care Dental Care - ✔✔-Treatment for alcoholism A Buyer's Guide MUST - ✔✔-Contain content approved by the Commissioner In New Jersey, health insurance advertisements are required to contain the - ✔✔-Insurance company's name Knowingly making misleading statements that would cause an insured to lapse, assign, or terminate an insurance policy in order to switch companies is an example of - ✔✔-Twisting The replacement of an existing insurance policy requires notice that the owner can return the policy within ___ days for a full refund - ✔✔-30 An insurance producer is issued a(n) ____ as evidence of authority - ✔✔-License A(n) ____ insurance company is one that was formed under the laws of a state other than NJ - ✔✔- Foreign An insurance company may ONLY pay a sales commission to - ✔✔-Individuals licensed by the state A newborn is required to be covered for ___ days from the moment of birth - ✔✔-30 How old must an individual be to obtain a producer's license? - ✔✔-18 Which of the following is NOT a duty of the Commissioner? Establish insurer rates Conduct investigations Issue Subpoenas Adminster oaths - ✔✔-Establish insurer rates After passing the state Producer licensing exam, application for the license must be made within - ✔✔- 12 months A buyer's guide and policy summary - ✔✔-Must be delivered with or prior to the policy delivery The commissioner issues a subpoena to a producer. The producer decides not to respond. Which course of action must be taken by the Commissioner? - ✔✔-Commissioner may impose an administrative penalty 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 - ✔✔-Brokers and consultants A producer must notify the Commissioner within ___ days of a felony conviction - ✔✔-30 Which of the following is an example of defamation? Using intimidation in order to restrain or monopolize the business of insurance Using derogatory statements about an insurance company's financial condition Returning a portion of a premium as inducement to purchase insurance Offering a client something of value not stated in the contract in exchange for their business - ✔✔-Using derogatory statements about an insurance company's fina [Show More]

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