Nevada Life, Accident, Health Insurance Exam Practice Questions and Answers 100% Pass

Nevada Life, Accident, Health Insurance Exam Practice Questions and Answers 100% Pass 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