Nevada Life, Accident, Health Insurance Exam Practice Questions With Correct Answers
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Course
Nevada Life & Health Insurance
Institution
Nevada Life & Health Insurance
Nevada Life, Accident, Health Insurance
Exam Practice Questions With Correct
Answers
What are the 2 types of Flexible Spending Accounts? - answerHealth care accounts and
Dependent care accounts
Concerning a Whole Life Policy, which of the following statements is correct? - answerCash
value is...
Nevada Life, Accident, Health Insurance
Exam Practice Questions With Correct
Answers
What are the 2 types of Flexible Spending Accounts? - answer✔✔Health care accounts and
Dependent care accounts
Concerning a Whole Life Policy, which of the following statements is correct? - answer✔✔Cash
value is guaranteed
According to the rights of renewability rider for cancellable policies, all of the following are
correct about the cancellation of an individual insurance policy EXCEPT - answer✔✔Unearned
premiums are retained by the insurance company
In a replacement situation, all of the following must be considered EXCEPT - answer✔✔Assets
For an agent to sell continuous care coverage, the agent must meet all of the following
requirements EXCEPT - answer✔✔Be licensed as a life insurance producer
Which of the following licensees are not compensated directly related to the amount of insurance
sold? - answer✔✔Insurance consultant
Producers must complete how many hours of continuing education on the subject of ethics every
licensing period? - answer✔✔3 Hours
Which of the following definitions would make it easier to qualify for total disability benefits? -
answer✔✔The more liberal "own occupation"
Which of the following must be present in all Medicare supplement plans? - answer✔✔Plan A
Most agents try to collect the initial premium for submission with the application. When an agent
collects the initial premium from the applicant, the agent should issue the applicant a -
answer✔✔Premium receipt
Which health insurance provision describes the insured's right to cancel coverage? -
answer✔✔Renewal provision
What type of insurance would be used for a Return of Premium rider? - answer✔✔Increasing
Term
When an insurer combines two periods of disability into one, the insured must have suffered a -
answer✔✔Recurrent disability
Which of the following is NOT true of a major-medical health insurance policy? - answer✔✔It
is designed to pay on a first dollar of expense basis
Which of the following is NOT true regarding Equity Indexed Annuities? - answer✔✔They earn
lower interest rates than fixed annuities
Underwriting a group health insurance plan that is paid for by the employer requires all of the
following EXCEPT - answer✔✔Individual members of the group may select the level of
benefits for their own coverage
To be eligible for a Health Savings Account, an individual must be covered by a -
answer✔✔High-deductible health plan
Which policy component decreases in decreasing term insurance? - answer✔✔Face amount
Which of the following is NOT covered under a long-term care policy? - answer✔✔Acute care
in a hospital
Which of the following, when attached to a permanent life insurance policy, allows the
policyowner to customize the policy to provide an additional amount of temporary insurance on
the insured, or allows amounts of temporary insurance to cover other family members? -
answer✔✔Term rider
An individual has been making periodic premium payments on an annuity. The annuity income
payments are schedules to begin after 1 year since the annuity was purchased what type of
annuity is it? - answer✔✔Deferred
What amount of care is provided in LTC's intermediate care? - answer✔✔Daily care by medical
personnel
What is the maximum amount that the Nevada Life & Health Insurance Guaranty Association
may be obligated to pay with respect to major medical insurance for one life? -
answer✔✔$500,000
A life producer applying for a viatical settlement broker license may be exempt from the
prelicensing education and examination requirement if the producer has held an active life
license for at least how many years? - answer✔✔1 year
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