COCO SOLUTIONS ACADEMIC STORE

1 Exam (elaborations) Casualty Producer NJ License Exam Fully Solved 2024. 2 Exam (elaborations) Casualty Producer NJ Training Exam With All Correct Solutions 2024. 3 Exam (elaborations) Life & Health Insurance Exam Colorado Test Questions With Correct Solutions 2024. 4 Exam (elaborations) New Jersey Life and Health Post Exam With Solved Solutio

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Answer A. mutual funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds ...

Powers and duties of Commissioner - Answer Conduct research Make reasonable rules and regulations Issue orders and notices Issue insurance licenses and certificates of authority Impose penalties Approve insurance policy forms and rates 10 - Answer Amount of days notice before hearing Producers can be - Answer Agents, brokers or both Insurance agent - Answer a licensed insurance producer who is appointed by an insurer to sell insurance. represents the insurer not the insure...

Powers and duties of Commissioner - Answer Conduct research Make reasonable rules and regulations Issue orders and notices Issue insurance licenses and certificates of authority Impose penalties Approve insurance policy forms and rates Amount of days notice before hearing - Answer 10 Retrocession - Answer When a reinsurer transfers risks it has accepted to another insurer Producers can be - Answer Agents, brokers or both Insurance agent - Answer a licensed insurance p...

Traditional Whole Life - Answer -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - Answer -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up -Insurer keeps the cash value if death to offset risk -Lowest net cost in long run -Client h...

Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer Home health care Which of the following is NOT a federal requirement of a qualified plan? - Answer Employee must be able to make unlimited contributions Why are dividends from a mutual insurer not subject to taxation? - Answer Because dividends are considered to be a return of premium The treasurer of XYZ Insurance Company discovers that...

adhesion - Answer (take it or leave it) no changing the contract. take it as is. aleatory contract - Answer (uneven) You will never pay as much in premium as what you get in coverage peril - Answer died of a certain way Hazard - Answer cause of loss Variable Universal Life - Answer requires FINRA license the difference between insure vs. insured - Answer Insure (must pay policy benefit "the company") insured (the customer) S & P 500 - Answer Equity index annuity...

The Commissioner must approve - Answer Continuing education courses Employer sponsored group health insurance provides coverage for which of the following? Self-inflicted injuries cosmetic surgery custodial care alcoholism - Answer alcoholism A Medicare supplement policy can be cancelled by the insurer for - Answer Nonpayment Which entity is responsible for regulating insurance advertising in NJ? - Answer New Jersey Department of Banking and Insurance Which of the follo...

According to the Time Payment of Claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT: - if the insured is able to eventually return to work -if the death is suicide or due to a pre existing condition -when the policy is in the incontestability period -for claims involving periodic payments - Answer for claims involving periodic payments INSURERS MUST PAY LUMP SUM CLAIMS IMMEDIATELY AFTER RECEIVING PROOF OF LOSS What does coinsurance ...

An insurer cancelled a contract with a producer on April 1st. By what date must the insurer notify the Commissioner of this action? A. April 30th B. April 5th C. April 11th D. April 15th - Answer D. April 15th An insurer goes bankrupt and is unable to pay on any of its insureds' claims. Which of the following will happen? A. The insureds will not be paid. B. The claims will be paid by a nationally-based program. C. The claims will be paid by the state Life and Health Guaranty Associ...