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NJ HEALTH AND ACC IDENT FINAL EXAM AND
PRACTICE EXAM NEWEST 2024-2025 ACTUAL
EXAM COMPLETE 350 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
NJ HEALTH AND ACCIDENT
which of the following percentages represents that average portion of expected costs covered in Platinum plan?
- 80%
- 70%
- 100%
- 90% - ANSWER- 90%
ABC Printing, a small tax nonexempt company, can get tax credits to help offset the cost of the company's health plan premium contribution for its employees. The maximum credit is
- 10% of premiums paid
- 25% of premiums paid 1 / 4
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- 50% of premiums paid
- 75% of premiums paid - ANSWER- 50% of premiums paid
How many full-time employees (FTEs) must a company have to be eligible for the Health Care Tax Credit for Small Employers?
- less than 2
- less than 10
- less than 25
- less than 20 - ANSWER- less than 25
Advanced premium tax credits (APTC) may be applied to lower the insured's monthly premiums. The cost-sharing reduction is only available through a health plan from which tier?
- platinum
- gold
- silver
- bronze - ANSWER- silver
All of the following are mandatory health insurance provisions
EXCEPT 2 / 4
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- payment of claims
- time limit on certain defenses
- proof of loss
- renewability - ANSWER- renewability
Marcus pays his insurance premium monthly and has a grace period of
- 7 days
- 10 days
- 30 days
- 31 days - ANSWER- 10 days
All of the following are optional health insurance provisions
EXCEPT
- insurance with other insurer
- narcotics
- unpaid premium
- change of beneficiary - ANSWER- change of beneficiary
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How many days' notice must the insured be given if an insurer cancels a policy?
- 5
- 2
- 10
- 3 - ANSWER- 5
Which provision allows new insureds the right to examine a policy for a specified period of time with the option to return it?
- free look period
- consideration clause
- renewability
- insuring clause - ANSWER- free look period
The exchange of something of value is known as
- a free-look
- an insuring agreement
- a consideration
- a provision - ANSWER- a consideration
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