State Exam Simulator Questions And Answers Already Passed 2024.

Who is protected with the "other insurance with this insurer" provision? - Answer Insurance company A nonparticipating whole life insurance policy was surrendered for its $20,000 cash value. The total premiums paid had totaled $16,000. What were the federal income tax consequences to the policyowner on receipt of the cash value? - Answer $16,000 was received tax-free and $4,000 as ordinary income After the extended term life nonforfeiture option is chosen, the available insurance will be - Answer level term for a stated period of time What is considered the collateral on a life insurance policy loan? - Answer The policy's cash value Each of the following will trigger a benefit under the Presumptive Disability provision, EXCEPT - Answer loss of any one limb In Nebraska, a long-term care policy which lapses may be reinstated within five months if - Answer the covered individual was mentally incapacitated A reciprocal insurer typically has an administrator who manages the premiums collected from the group's members. This administrator is called a(n) - Answer attorney-in-fact Which of the following outlines the authority given to the Producer on behalf of the insurer? - Answer Producer contract An accident and health plan that typically covers only the services of approved providers is called a(n) - Answer HMO plan