NEBRASKA LIFE AND HEALTH EXAM<\/p>\n\n\n\n
Which of the following best describes taxation during the accumulation
period of an annuity? – Precise Answer \u2714\u2714taxes are deferred
Which of the following individuals will be eligible for coverage on the
Health Insurance Marketplace? – Precise Answer \u2714\u2714A permanent
resident lawfully present in the U.S.
In respect to the consideration clause, which of the following is
consideration on the part of the insurer? – Precise Answer \u2714\u2714Promising
to pay in accordance with the contract terms
The act that sets the standards for advice given by insurance producers
regarding annuities is known as the Nebraska – Precise Answer
\u2714\u2714Protection in annuity transaction act
Children’s rider attached to whole life policies are usually issued as what
type of insurance? – Precise Answer \u2714\u2714term
If a producer allows his license to lapse, within what maximum time
period may the same license be reinstated? – Precise Answer \u2714\u271412
months<\/p>\n\n\n\n
What is the advantage of having a qualified annuity? – Precise Answer
\u2714\u2714Favorable tax treatment
When both parties to a contract must perform certain duties and follow
rules of conduct to make the contract enforceable, the contact is? –
Precise Answer \u2714\u2714conditional
A policy with 31 day grace period Implies? – Precise Answer \u2714\u2714The
policy will not lapse for 31 days if the premium is not paid when due
Employer health plans must provide primary coverage for individuals
with end-stage renal disease before Medicare becomes primary for how
many months – Precise Answer \u2714\u271430 months
What types of services may NOT be provided under the long term cares
assisted living care? – Precise Answer \u2714\u2714Visits by a registered nurse
The authority granted to an agent through the agent’s contract is referred
to as – Precise Answer \u2714\u2714Express Authority
If an employer provides long-term group disability insurance for its
employees, what percentage of monthly wages are lower-paid
employees eligible to collect?
a)
33 and 1\/3%<\/p>\n\n\n\n
b)
50%
c)
66 and 2\/3%
d)
90% – Precise Answer \u2714\u271466 and 2\/3%
If an applicant for a health insurance policy is found to be a substandard
risk, the insurance company is most likely to
Require a yearly medical examination.
Lower its insurability standards.
Refuse to issue the policy.
Charge an extra premium. – Precise Answer \u2714\u2714Charge an extra
premium.
Which of the following statements concerning buy-sell agreements is
true?
Premiums paid are deductible as a business expense.
Benefits received are considered income taxable.
Buy-sell agreements pay in the event of a medical emergency.
Buy-sell agreements are normally funded with a life insurance policy. –
Precise Answer \u2714\u2714Buy-sell agreements are normally funded with a life
insurance policy.<\/p>\n\n\n\n
A policyowner is reading a statement on the first page of his health
insurance policy, which says “this is a limited policy.” What is the name
of this statement?
Policy Limitation Notice
Statute of Limitations
Limited Benefit Statement
Limited Policy Notice – Precise Answer \u2714\u2714Limited Policy Notice
How does the cost of a basic coverage benefit plan compare with the
cost of a standard benefit plan?
Equal
It fluctuates more.
Higher
Lower – Precise Answer \u2714\u2714Lower
Variable Life insurance is based on what kind of premium?
Graded
Level fixed
Increasing
Decreasing – Precise Answer \u2714\u2714Level fixed<\/p>\n\n\n\n