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InsNV_Health02 Practice Questions

NV Accident and Health

Last Update 2 days ago
Total Questions : 130

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Question # 1

Which policy is designed to pay benefits upon diagnosis or treatment of a specifically named illness, such as cancer?

Options:

A.  

Specified disease insurance

B.  

Major medical insurance

C.  

Credit disability insurance

D.  

Group term life insurance

Discussion 0
Question # 2

In order for a health insurance producer to be an Exchange Enrollment Facilitator (EEF), the producer:

Options:

A.  

can receive commissions from the company in addition to the compensation as a facilitator

B.  

can receive both commission and compensation as a facilitator

C.  

must surrender the producer ' s license and apply for an Exchange Enrollment Facilitator license

D.  

can offer advice to consumers resulting in the " steering " of the selection of coverage

Discussion 0
Question # 3

J and K are married and have several children. J is the primary beneficiary on K ' s Accidental Death and Dismemberment (AD & D) policy, and K ' s sibling, L, is the contingent beneficiary. J, K, and L are involved in a train accident, and K and L are killed instantly. The Accidental Death benefits will be paid to:

Options:

A.  

L ' s estate

B.  

K ' s estate

C.  

J and K ' s estate

D.  

J only

Discussion 0
Question # 4

Which statement is true of a variable life insurance policy?

Options:

A.  

The policyowner bears no investment risk.

B.  

The cash value is held only in the insurer’s general account.

C.  

The cash value may fluctuate with separate-account investment performance.

D.  

The policy is always a temporary term policy.

Discussion 0
Question # 5

For a group health plan subject to the federal waiting-period rule, the waiting period for otherwise eligible employees generally may not exceed:

Options:

A.  

30 calendar days

B.  

60 calendar days

C.  

90 calendar days

D.  

180 calendar days

Discussion 0
Question # 6

Under an individual Major Medical policy, a married policyowner has the right to take which of the following actions?

Options:

A.  

Demand binding arbitration if there is disagreement over a claim

B.  

Sue the insurance company for not paying a claim within 30 days after submission of Proof of Loss

C.  

Reinstate the policy within 3 years after it lapses

D.  

Add a newborn child to the policy without providing proof of insurability

Discussion 0
Question # 7

What is the primary purpose of a waiver-of-premium rider on a life insurance policy?

Options:

A.  

It eliminates all future policy loans.

B.  

It waives required premiums if the insured becomes totally disabled as defined by the rider.

C.  

It guarantees a higher death benefit every year.

D.  

It converts term insurance automatically into whole life insurance.

Discussion 0
Question # 8

When a nonqualified annuity is surrendered for more than the owner’s investment in the contract, how is the gain generally treated for federal income-tax purposes?

Options:

A.  

As a tax-free return of principal only

B.  

As ordinary income

C.  

As a long-term capital gain in all cases

D.  

As a deductible business loss

Discussion 0
Question # 9

A group health policy that covers hospital expenses MUST also cover:

Options:

A.  

burial expenses

B.  

elective cosmetic surgery

C.  

travel expenses for caretakers

D.  

routine physical examinations

Discussion 0
Question # 10

Which of the following statements is CORRECT about Medicare?

Options:

A.  

It is a medical assistance program.

B.  

It is a hospital and medical expense insurance program.

C.  

It provides benefits to totally disabled persons only.

D.  

Its Part A provides payment for physicians ' bills.

Discussion 0
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