Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025), Exams of Nursing

Download Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) and more Exams Nursing in PDF only on Docsity! Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) Health care accounts and Dependent care accounts - Correct Answers ✅What are the 2 types of Flexible Spending Accounts? Cash value is guaranteed - Correct Answers ✅Concerning a Whole Life Policy, which of the following statements is correct? Unearned premiums are retained by the insurance company - Correct Answers ✅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 Assets - Correct Answers ✅In a replacement situation, all of the following must be considered EXCEPT Be licensed as a life insurance producer - Correct Answers ✅For an agent to sell continuous care coverage, the agent must meet all of the following requirements EXCEPT Insurance consultant - Correct Answers ✅Which of the following licensees are not compensated directly related to the amount of insurance sold? Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) 3 Hours - Correct Answers ✅Producers must complete how many hours of continuing education on the subject of ethics every licensing period? The more liberal "own occupation" - Correct Answers ✅Which of the following definitions would make it easier to qualify for total disability benefits? Plan A - Correct Answers ✅Which of the following must be present in all Medicare supplement plans? Premium receipt - Correct Answers ✅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 Renewal provision - Correct Answers ✅Which health insurance provision describes the insured's right to cancel coverage? Increasing Term - Correct Answers ✅What type of insurance would be used for a Return of Premium rider? Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) 1 year - Correct Answers ✅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? The surviving beneficiary will continue receiving 2/3 of the benefit paid when both beneficiaries were alive - Correct Answers ✅An insured has chosen joint and 2/3 survivor as the settlement option. What does this mean to the beneficiaries? Increasing term - Correct Answers ✅What type of insurance would be used for a Return of Premium rider? Survivor protection - Correct Answers ✅A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely The benefit received is tax free - Correct Answers ✅A corporation is the owner of the beneficiary of the key persion life policy. If the corporation collect the policy benefit, then Attained age - Correct Answers ✅The premium charged for exercising the Guaranteed Insurability Rider is based upon the insured's Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) renewal provision - Correct Answers ✅Which health insurance provision describes the insured's right to cancel coverage? Impairment rider - Correct Answers ✅Which of the following riders would NOT increase the premium for a policyowner? Brokers do not need to be appointed - Correct Answers ✅Which of the following is true regarding insurance company appointment for a broker? Provider - Correct Answers ✅Who is a person, other than a viator, that enters into a viatical settlement contract? FINRA - Correct Answers ✅An agent selling variable annuities must be registered with Whole life - Correct Answers ✅An insured bought a policy 20 years ago. The policy stated that 20 years later the cash value would be $480 per $1,000 of coverage. What type of policy does the insured have? Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) Loan values and retirement income - Correct Answers ✅What are the "living benefits" of whole life insurance? The premiums are invested in the insurer's general account - Correct Answers ✅All of the following are true about variable products EXCEPT Annuitization period - Correct Answers ✅In an annuity, the accumulated money is converted into a stream of income during which time period? It is designed to pay on a first dollar expense basis - Correct Answers ✅Which of the following is NOT true of a major-medical health insurance policy? Relative value - Correct Answers ✅Todd has been informed that he has a hernia which requires repair. When Todd researches the cost, he learns that his insurance plan will cover 200 points worth of surgical expenses. Each point represents $10, which means that $2000 of his surgery will be covered by his insurance plan. What system is Todd's insurance company using? Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) for income benefits, must an insured submit written proof of such loss to the insurance company Disability income - Correct Answers ✅A waiver of premium provision may be included with which kind of health insurance policy Annuitant - Correct Answers ✅When an annuity is written, whose life expectancy is taken into account? It will pay double or triple the face amount - Correct Answers ✅Which of the following statements is true concerning the accidental death rider income for 2 or more recipients until they die - Correct Answers ✅Life income joint and survivor settlement option guarantees level or flexible - Correct Answers ✅Which two terms are associated directly with the premium? $50,000 - Correct Answers ✅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 Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) currently $20,000. What would be the face amount of the new term policy? It requires all employers, regardless of the number or age of employees, to provide extended group health coverage - Correct Answers ✅Which of the following statements is NOT correct concerning the COBRA Act of 1985? Insurer - Correct Answers ✅Which of the following entities can legally bind coverage? Insuring clause - Correct Answers ✅Which provision of a life insurance policy states the insurers duty to pay benefits upon the death of the insured, and to whom the benefits will be paid? Annuity - Correct Answers ✅Which of the following products will protect an individual from outliving his or her money? Common disaster - Correct Answers ✅An insured and his wife are both involved in a head-on collision. The husband dies instantly, and the wife dies 15 days later. The company pays the death benefit to the estate of the insured. This indicates that the life insurance policy had what provision? Nevada Life, Accident, Health Insurance Exam Practice ( Latest Questions 2024\2025) Cash value in excess of the premiums paid is taxed upon policy surrender - Correct Answers ✅Which of the following is true regarding taxation of cash value in a life insurance policy? 90 days of a loss - Correct Answers ✅Under the uniform required provision proof of loss under a health insurance policy should normally be filed within how many days? the commissioner - Correct Answers ✅Which of the following entities ultimately determines if an advertisement is deceptive or confusing? A mutual insurer - Correct Answers ✅Insurance companies may be classified according to the legal form of their ownership. The type of company organized to return any surplus money to their policyholders is Defamation - Correct Answers ✅Which of the following terms describes making false statements about the financial condition of any insurer that are intended to injure any person engaged in the business of insurance?