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Nevada Life and Health Insurance Exam (Update) Questions & Answers| Grade A| 100% Correct (Verified Solution) Health Care Accounts and Dependent Care Accounts What are the 2 types of Flexible Spending Accounts?
Correct answer: Health Care Accounts and Dependent Care
Accounts
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Cash value is guaranteed Concerning a Whole Life Policy, which of the following statements is correct?
Correct answer: Cash value is guaranteed
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Unearned premiums are retained by the insurance company 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
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Correct answer: Unearned premiums are retained by the
insurance company
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Assets In a replacement situation, all of the following must be considered EXCEPT
Correct answer: Assets
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Be licensed as a Life Insurance Producer For an agent to sell continuous care coverage, the agent must meet all of the following requirements EXCEPT
Correct answer: Be licensed as a Life Insurance Producer
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Insurance Consultant
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Which of the following licensees are not compensated directly related to the amount of insurance sold?
Correct answer: Insurance Consultant
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- Hours
Producers must complete how many hours of continuing education on the subject of ethics every licensing period?
Correct answer: 3 Hours
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The more liberal 'Own Occupation' Which of the following definitions would make it easier to qualify for total disability benefits?
Correct answer: The more liberal 'Own Occupation'
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Plan A
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Which of the following must be present in all Medicare Supplement plans?
Correct answer: Plan A
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Premium Receipt 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
Correct answer: Premium Receipt
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Renewal Provision Which health insurance provision describes the insured's right to cancel coverage?
Correct answer: Renewal Provision
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