Nevada Life, Accident, Health Insurance Exam Practice Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Course
Nevada Life, Accident, Health Insurance
Institution
Nevada Life, Accident, Health Insurance
An insured owns a $50,000 whole life policy. At age 47, the insured decides to cancel his policy and
exercise the extended term option for the policy's cash value, which is currently $20,000. What would be
the face amount of the new term policy? - $50,000
An insured has chosen joint and 2/3 surv...
Nevada Life, Accident, Health Insurance
Exam Practice
An insured owns a $50,000 whole life policy. At age 47, the insured decides to cancel his policy and
exercise the extended term option for the policy's cash value, which is currently $20,000. What would be
the face amount of the new term policy? - $50,000
An insured has chosen joint and 2/3 survivor as the settlement option. What does this mean to the
beneficiaries? - The surviving beneficiary will continue receiving 2/3 of the benefit paid when
both beneficiaries were alive
Which of the following is NOT true of a major-medical health insurance policy? - It is designed to
pay on a first dollar of expense basis
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 - Premium
receipt
What are the 2 types of Flexible Spending Accounts? - Health care accounts and Dependent care
accounts
Concerning a Whole Life Policy, which of the following statements is correct? - 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 - Unearned premiums are retained by
the insurance company
In a replacement situation, all of the following must be considered EXCEPT - Assets
For an agent to sell continuous care coverage, the agent must meet all of the following requirements
EXCEPT - Be licensed as a life insurance producer
, Which of the following licensees are not compensated directly related to the amount of insurance sold? -
Insurance consultant
Producers must complete how many hours of continuing education on the subject of ethics every
licensing period? - 3 Hours
Which of the following definitions would make it easier to qualify for total disability benefits? -
The more liberal "own occupation"
Which of the following must be present in all Medicare supplement plans? - Plan A
Which health insurance provision describes the insured's right to cancel coverage? - Renewal
provision
What type of insurance would be used for a Return of Premium rider? - Increasing Term
When an insurer combines two periods of disability into one, the insured must have suffered a -
Recurrent disability
Which of the following is NOT true regarding Equity Indexed Annuities? - 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 - 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 - High-deductible
health plan
Which policy component decreases in decreasing term insurance? - Face amount
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