NH Insurance Agent Exam
The free look period provided in a life insurance policy is usually ____ days - ANSWER-
10
Which of the following contracts offer deferred taxation, flexible payments, a guaranteed
interest rate, and death benefits equal to the cash value? - ANSWER-Flexible premium
fixed annuity
Which of these if NOT considered to be an activity of a daily living(ADL)? - ANSWER-
Driving
How are level term policies able to provide level premiums? - ANSWER-Premiums are
averaged over the term of the policy
ABC Company is attempting to minimize the severity of potential losses within its
company. The company is engaged in risk - ANSWER-reduction
An organization that requires healthcare services to be provided by a network of
physicians and hospitals is known as a(n) - ANSWER-HMO
Christine is receiving benefits provided from her disability income insurance. As
compared to her previous earnings, the disability benefits should be - ANSWER-
somewhat less
The conversion option for group term insurance may be exercised by an employee -
ANSWER-within 31 days of terminated employment
A single premium deferred annuity sometimes contains a bailout feature. Which
statement regarding this feature is correct? - ANSWER-If the interest rate falls below a
specified level, the surrender charge is waived
Which statement about group life insurance is incorrect? - ANSWER-Each participant
requires evidence of insurability
Darrell has a group long-term disability income policy paid by his employer. Which of
these statements is true? - ANSWER-The specified benefit amount is a percentage of
his wages
The free look period for long term care insurance policies sold in nh is ___ days. -
ANSWER-30
, In a qualified retirement plan, the yearly contributions to an employee's account -
ANSWER-Are restricted to maximum limits set by the IRS
A guaranteed renewable provision allows - ANSWER-premiums which can only be
increased per rate class
Replacement regulations exist in order to - ANSWER-Protect policy owners from
misrepresentations and loss of benefits
Some standard Medicare Supplement policies include which benefit? - ANSWER-
Hospice care
A(n) _________ insurer assumes risk from another insurance company - ANSWER-
Reinsurance
Failure to meet the continuing education credit requirements in NH may result in -
ANSWER-Non-renewal of the license
Who determines worker's compensation eligibility rules? - ANSWER-State of NH
A Medicare supplement policy is required to do which of the following? - ANSWER-
Provide a 30 day free-look period
What is considered a valid reason for small corporations to insure the lives of its major
stockholders? - ANSWER-Fund a buy-sell agreement
Accident and health insurance claim handling is made more convenient to the insured
by utilizing - ANSWER-Assignment of benefits
Which of the following does not involve a life settlement transaction? - ANSWER-
Converting term life insurance to whole life insurance
A producer is determining the suitability of an annuity to a client. During the meeting, the
producer MUST - ANSWER-Make reasonable efforts to fit the annually with the client's
needs
Reductions in coverage are one feature of ______ in health insurance policies -
ANSWER-cost containment
When a lapsed policy's premium has been paid current, it has the potential of being -
ANSWER-Reinstated
Which life insurance clause prohibits an insurance company from questioning the
validity of the contract after a stated period of time has passed? - ANSWER-
Incontestable clause
The free look period provided in a life insurance policy is usually ____ days - ANSWER-
10
Which of the following contracts offer deferred taxation, flexible payments, a guaranteed
interest rate, and death benefits equal to the cash value? - ANSWER-Flexible premium
fixed annuity
Which of these if NOT considered to be an activity of a daily living(ADL)? - ANSWER-
Driving
How are level term policies able to provide level premiums? - ANSWER-Premiums are
averaged over the term of the policy
ABC Company is attempting to minimize the severity of potential losses within its
company. The company is engaged in risk - ANSWER-reduction
An organization that requires healthcare services to be provided by a network of
physicians and hospitals is known as a(n) - ANSWER-HMO
Christine is receiving benefits provided from her disability income insurance. As
compared to her previous earnings, the disability benefits should be - ANSWER-
somewhat less
The conversion option for group term insurance may be exercised by an employee -
ANSWER-within 31 days of terminated employment
A single premium deferred annuity sometimes contains a bailout feature. Which
statement regarding this feature is correct? - ANSWER-If the interest rate falls below a
specified level, the surrender charge is waived
Which statement about group life insurance is incorrect? - ANSWER-Each participant
requires evidence of insurability
Darrell has a group long-term disability income policy paid by his employer. Which of
these statements is true? - ANSWER-The specified benefit amount is a percentage of
his wages
The free look period for long term care insurance policies sold in nh is ___ days. -
ANSWER-30
, In a qualified retirement plan, the yearly contributions to an employee's account -
ANSWER-Are restricted to maximum limits set by the IRS
A guaranteed renewable provision allows - ANSWER-premiums which can only be
increased per rate class
Replacement regulations exist in order to - ANSWER-Protect policy owners from
misrepresentations and loss of benefits
Some standard Medicare Supplement policies include which benefit? - ANSWER-
Hospice care
A(n) _________ insurer assumes risk from another insurance company - ANSWER-
Reinsurance
Failure to meet the continuing education credit requirements in NH may result in -
ANSWER-Non-renewal of the license
Who determines worker's compensation eligibility rules? - ANSWER-State of NH
A Medicare supplement policy is required to do which of the following? - ANSWER-
Provide a 30 day free-look period
What is considered a valid reason for small corporations to insure the lives of its major
stockholders? - ANSWER-Fund a buy-sell agreement
Accident and health insurance claim handling is made more convenient to the insured
by utilizing - ANSWER-Assignment of benefits
Which of the following does not involve a life settlement transaction? - ANSWER-
Converting term life insurance to whole life insurance
A producer is determining the suitability of an annuity to a client. During the meeting, the
producer MUST - ANSWER-Make reasonable efforts to fit the annually with the client's
needs
Reductions in coverage are one feature of ______ in health insurance policies -
ANSWER-cost containment
When a lapsed policy's premium has been paid current, it has the potential of being -
ANSWER-Reinstated
Which life insurance clause prohibits an insurance company from questioning the
validity of the contract after a stated period of time has passed? - ANSWER-
Incontestable clause
