2024 NV HEALTH FINAL EXAM 1
WITH CORRECT ANSWERS
All of the following are ways in which you may pay an Accident and Health
insurance policy premium, EXCEPT:
A. Single
B. Monthly
C. Quarterly
D. Annual - CORRECT ANSWERS-Correct Answer: A. Single
If an insurance company fails to notify an applicant that a reinstatement
application was not approved, insurance will be placed back in force within
how many days?
A. 90
B. 60
C. 20
D. 45 - CORRECT ANSWERS-Correct Answer: D. 45
Explanation:
Although you cannot force an insurer to reinstate your lapsed policy, they
must respond to your reinstatement application within 45 days or the policy
is considered to be automatically reinstated by state law. Upon the date of
reinstatement, a 10-day probationary period begins for sickness.
Which law requires the applicant be notified before a consumer report is
ordered: - CORRECT ANSWERS-Fair Credit Reporting Act
The Insuring Clause of an A&H policy usually states all of the following,
EXCEPT:
A. That insurance against loss is provided
B. That a loss must result directly from stated accidents or sicknesses
C. The method of premium payment
D. The identities of the insurance company and the insured - CORRECT
ANSWERS-C. The method of premium payment
An applicant purchased an A&H policy on his wife that included an Accidental
Death and Dismemberment benefit. He named himself as the beneficiary
and specified that the Death benefits were to be payable to his son if he, the
, applicant, were to predecease his wife. In this situation, the applicant's son
would be considered the:
A. Contingent beneficiary
B. Primary beneficiary
C. Policy owner
D. Insured - CORRECT ANSWERS-Contingent beneficiary
If an insured is disabled and receiving benefits under an A&H policy that
provides payment to the insured for at least two years, at what intervals 間隔
must the insured provide notice of continuing loss?
A. 3 months
B. 12 months
C. 9 months
D. 6 months - CORRECT ANSWERS-C. 6 months
Language added to a Health policy that takes coverage away is:
A. Waiver of Premium rider
B. Guaranteed Insurability rider
C. Impairment rider
D. Cost of Living rider - CORRECT ANSWERS-C. Impairment rider
The Entire Contract provision in an A&H policy states which of the following?
A. Specific rules, regulations, and procedures concerning the policy are
maintained in the insurance company's home office
B. The Entire Contract is on file with the producer and may be examined by
the applicant at any time
C. The policy delivered to the insured is a brief summary of the Entire
Contract, which is on file with the appropriate state Department of Insurance
D. The policy, with attached endorsements and other papers, constitutes the
Entire Contract between the policy owner and the insurance company -
CORRECT ANSWERS-D. The policy, with attached endorsements and other
papers, constitutes the Entire Contract between the policy owner and the
insurance company
Which of the following statements about the application form and the role of
the producer in A&H insurance is/are true?
I. In underwriting applicants, the producer must understand the importance
of moral risk
II. Problems with claims may occur because the producer failed to include all
of the facts on the application form - CORRECT ANSWERS-Correct Answer:
Both I and II
I. In underwriting applicants, the producer must understand the importance
of moral risk
WITH CORRECT ANSWERS
All of the following are ways in which you may pay an Accident and Health
insurance policy premium, EXCEPT:
A. Single
B. Monthly
C. Quarterly
D. Annual - CORRECT ANSWERS-Correct Answer: A. Single
If an insurance company fails to notify an applicant that a reinstatement
application was not approved, insurance will be placed back in force within
how many days?
A. 90
B. 60
C. 20
D. 45 - CORRECT ANSWERS-Correct Answer: D. 45
Explanation:
Although you cannot force an insurer to reinstate your lapsed policy, they
must respond to your reinstatement application within 45 days or the policy
is considered to be automatically reinstated by state law. Upon the date of
reinstatement, a 10-day probationary period begins for sickness.
Which law requires the applicant be notified before a consumer report is
ordered: - CORRECT ANSWERS-Fair Credit Reporting Act
The Insuring Clause of an A&H policy usually states all of the following,
EXCEPT:
A. That insurance against loss is provided
B. That a loss must result directly from stated accidents or sicknesses
C. The method of premium payment
D. The identities of the insurance company and the insured - CORRECT
ANSWERS-C. The method of premium payment
An applicant purchased an A&H policy on his wife that included an Accidental
Death and Dismemberment benefit. He named himself as the beneficiary
and specified that the Death benefits were to be payable to his son if he, the
, applicant, were to predecease his wife. In this situation, the applicant's son
would be considered the:
A. Contingent beneficiary
B. Primary beneficiary
C. Policy owner
D. Insured - CORRECT ANSWERS-Contingent beneficiary
If an insured is disabled and receiving benefits under an A&H policy that
provides payment to the insured for at least two years, at what intervals 間隔
must the insured provide notice of continuing loss?
A. 3 months
B. 12 months
C. 9 months
D. 6 months - CORRECT ANSWERS-C. 6 months
Language added to a Health policy that takes coverage away is:
A. Waiver of Premium rider
B. Guaranteed Insurability rider
C. Impairment rider
D. Cost of Living rider - CORRECT ANSWERS-C. Impairment rider
The Entire Contract provision in an A&H policy states which of the following?
A. Specific rules, regulations, and procedures concerning the policy are
maintained in the insurance company's home office
B. The Entire Contract is on file with the producer and may be examined by
the applicant at any time
C. The policy delivered to the insured is a brief summary of the Entire
Contract, which is on file with the appropriate state Department of Insurance
D. The policy, with attached endorsements and other papers, constitutes the
Entire Contract between the policy owner and the insurance company -
CORRECT ANSWERS-D. The policy, with attached endorsements and other
papers, constitutes the Entire Contract between the policy owner and the
insurance company
Which of the following statements about the application form and the role of
the producer in A&H insurance is/are true?
I. In underwriting applicants, the producer must understand the importance
of moral risk
II. Problems with claims may occur because the producer failed to include all
of the facts on the application form - CORRECT ANSWERS-Correct Answer:
Both I and II
I. In underwriting applicants, the producer must understand the importance
of moral risk
