Nebraska Life and Health Insurance Exam Questions and Answers, Exams of Nursing

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Exam Pt. Exam Questions and Answers

(Latest Update 2024)

Which of the following statements BEST describes the HIPAA probability rules for an individual who changes from one group medical plan to another? - Correct Answer ✅Reduces or eliminates any pre-existing conditions excluded under the new plan Under which circumstance can an insurance company offer Health insurance? - Correct Answer ✅The sponsoring group provides an employer-employee relationship During an annuities liquidation phase, the annuity normally - Correct Answer ✅Receive the benefit payments at regular intervals In a disability income contract, an insured is considered to be totally disabled under the presumptive disability provision if he/she - Correct Answer ✅loses the ability to speak The reason for backdating a policy is - Correct Answer ✅to obtain a premium rate based on an earlier age

Exam Pt. Exam Questions and Answers

(Latest Update 2024)

The beneficiary of a life insurance policy is normally selected by whom? - Correct Answer ✅Policyowner Which of the following is NOT included as a hospice benefit under a major medical plan? - Correct Answer ✅rehabilitation Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No further payments are permitted and the income stream begins in 15 years. This contract is a(n) - Correct Answer ✅Single premium deferred annuity Which of the following statements is TRUE if the owner of an IRA names their spouse as a beneficiary, but then dies before any distributions are made? - Correct Answer ✅The account can be rolled into the surviving spouse's IRA During the liquidation phase of an annuity contract, to whom are the income benefits, normally payable to? - Correct Answer ✅Annuitant

Exam Pt. Exam Questions and Answers

(Latest Update 2024)

Death proceeds for a life insurance policy are typically included in a decreased insured's gross estate - Correct Answer ✅For federal income tax reasons Which life insurance clause prohibits an insurance company from questioning the validity of the contract after a state period of time has passed? - Correct Answer ✅Incontestable clause According to ERISA regulations, a Summary Plan Description must be provided to a new plan member within ___ days of the member's eligibility date. - Correct Answer ✅ 90 Fee-for-service is a method of administrating health insurance benefits in which - Correct Answer ✅The cost of each service is scheduled In Nebraska, false advertising is an example of - Correct Answer ✅Misrepresentation

Exam Pt. Exam Questions and Answers

(Latest Update 2024)

Which renewal provision must ALL Medicare supplement policies include? - Correct Answer ✅Guaranteed renewable When does the owner's contractual rights begin under an individual annuity contract? - Correct Answer ✅Time of purchase Which of the following does TRI-CARE provide accident and health coverage to? - Correct Answer ✅Military families The automatic premium loan provision can be accurately described as a - Correct Answer ✅provision that provides a policy loan to pay any premiums by the end of the grace period An advantage of owning a flexible, premium life insurance policy would be - Correct Answer ✅The policyowner can make policy changes without difficulty

Exam Pt. Exam Questions and Answers

(Latest Update 2024)

Part A Medicare includes coverage for all of the following services EXCEPT - Correct Answer ✅120 days of Skilled Nursing Facility care Which of the following is NOT a basic underwriting action for accident and health insurance? - Correct Answer ✅Removing uniform policy provisions Which life insurance policy provision prohibits a beneficiary from "commuting, encumbering, withdrawing, or assigning" any portion of the proceeds prior to actual receipt from the company? - Correct Answer ✅Spendthrift clause Which of the following is NOT an allowable exclusion for long- term care insurance policies? - Correct Answer ✅Care for incurable conditions An insurable risk requires - Correct Answer ✅that the chance of loss be calculable

Exam Pt. Exam Questions and Answers

(Latest Update 2024)

How is the insured protected if a payor benefit writer is attached to the life insurance policy? - Correct Answer ✅Premium payments are waived in the event the premium payor dies or becomes disabled A producer's first-year commission on Medicare supplements may not exceed ____ over the conversation paid in the second year. - Correct Answer ✅200% After the extended term life nonforfeiture option is chosen, the available insurance will be - Correct Answer ✅level term for a stated period of time Which statement regrading the joint and survivor life insurance settlement option is NOT true? - Correct Answer ✅The amount of each installment is larger than the single life income option Which statement regarding the life insurance premium for a children's rider is true? - Correct Answer ✅Premium mermaids the same, no matter how many children

Exam Pt. Exam Questions and Answers

(Latest Update 2024)

When would evidence of insurability be required for a person already covered with a variable universal life policy? - Correct Answer ✅When the death benefit is increased Which of the following does a Medicare Advantage enrollee typically payfor? - Correct Answer ✅Small co-pay visit or per service Under which circumstance may an insurer discontinue a small employer group medical plan? - Correct Answer ✅Insurer discontinues offering the plan to all employers Which of the following reduces the opportunity for overinsurance? - Correct Answer ✅coordination of benefits provision