Life and Health State Exam Simulator
Questions and Answers (Latest Update
2024 2024)
Who normally pays for the premiums for group credit life
insurance? - Correct Answer ✅The borrower
What is NOT considered to be an element of insurable risk? -
Correct Answer ✅Speculative
What is NOT true about insurance? - Correct Answer ✅As
the number of insured units increases, the number of losses
decreases
When funds are being transferred from one IRA to another
IRA, what % of of the tax is withheld? - Correct Answer
✅NONE
Tim is retired and has recently separated from his wife. He
receives from a qualified retirement plan through his former
employer. The plan's trustee has decided to split these
benefits payment between Tim and his estranged wife. This
decision is likely in violation of which IRS rule? - Correct
Answer ✅Alienation of benefits
,Life and Health State Exam Simulator
Questions and Answers (Latest Update
2024 2024)
A life insurance policy's waiver of premium rider has the
ability to - Correct Answer ✅Relive the insured of premium
payments following an initial waiting after the insured
becomes totally disabled
Typically, working individuals age 65 must be - Correct
Answer ✅offered the same Health benefits as the young
employees
In Nebraska, qualified long-term care plans require each of
the following EXCEPT - Correct Answer ✅At least 3 days
prior of hospitalization
What typically changes at the re-entry option date found in
some term life policies - Correct Answer ✅Premium
COBRA extends coverage for surviving spouses but at a rate
not more than what % of the group premium - Correct
Answer ✅102%
,Life and Health State Exam Simulator
Questions and Answers (Latest Update
2024 2024)
Which of the following does by Medicare Advantage enrollee
typically pay for? - Correct Answer ✅Small co-pay per visit
or per service
What action can an insurer take to discourage malingering
and false disability claims? - Correct Answer ✅Limit the
amount of benefits an insured can receive form two disability
policies with the same insurer
Mike applied for life insurance and was issued a conditional
receipt. He is later found to be insurable and is issued a
policy. When does his coverage become effective? - Correct
Answer ✅Date of issuance of the conditional receipt
An insured must be notified in writing within how many days
of any change in ownership for a viatical settlement -
Correct Answer ✅20 days
, Life and Health State Exam Simulator
Questions and Answers (Latest Update
2024 2024)
Individuals covered with employer-paid group health plans
will normally receive tax-free benefits under all of these plans
EXCEPT - Correct Answer ✅Disability income
Which factor determines the maximum disability income
benefit that can be purchased by an applicant - Correct
Answer ✅The applicant's income
What would be a valid reason for naming a trust as a
beneficiary of a life insurance policy as opposed to naming an
individual? - Correct Answer ✅Management of proceeds
would be provided
Who is protected with the "other insurance with this insurer"
provision? - Correct Answer ✅Insurance company
What can be expected when a preferred provider organization
(PPO) patients decide to use a non PPO? - Correct Answer
✅Higher out-of-pocket expenses
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