Nebraska Life and Health License Exam
Questions and Answers
Before delivering a health insurance policy to a client, the
producer alters the insuring clause in a way that he believes will
benefit the insurance company. Which of the following statements
is true about this alteration? - correct answers✅✅It is
prohibited by the entire contract provision
Which organization offers health insurance to Nebraska residents
who are denied health insurance and unable to obtain coverage
from private companies due to pre-existing medical conditions? -
correct answers✅✅Nebraska Comprehensive Health Insurance
Pool
Newborn children are automatically covered under an insured's
individual health insurance policy for how long? - correct
answers✅✅from birth to 31 days
As beneficiary of her husband's life insurance, Beth chooses to
receive payments for life. However, she is guaranteed that the
payments will be made for ten years. Beth has chosen which of
the following? - correct answers✅✅life income with period
certain
Which method of determining the benefit amount is most
common in individual disability income policies? - correct
answers✅✅flat amount
Which statement describes the "pool of money" approach to
benefits under a long-term care insurance policy? - correct
,Nebraska Life and Health License Exam
Questions and Answers
answers✅✅Benefits are defined as a total sum of money from
which money can be drawn in any amount for as long as the
money lasts.
Which statement best describes the restrictions an insurer must
operate under when using information from the MIB? - correct
answers✅✅Insurers cannot rate or decline a life insurance
applicant based solely on MIB information.
Which of the following must HMO members use to receive
covered care? - correct answers✅✅HMO's network of
providers and caregivers
Which statement is correct about a buy-up option in a disability
income insurance policy for professionals? - correct
answers✅✅It lets the insured buy more coverage in the future
without evidence of insurability.
Bill believes he has a cause of action against his health insurer for
its refusal to pay benefits on a claim. He filed written proof of loss
on April 1. Not having received a response by May 1, he decides
to take legal action. What will his attorney probably do? - correct
answers✅✅advise him to wait
For tax purposes, a self-employed person includes all of the
following, EXCEPT: - correct answers✅✅an incorporated
business owner
, Nebraska Life and Health License Exam
Questions and Answers
The Director of Insurance can examine the business transactions,
accounts, and records of insurers as often as necessary, but must
do so at least once in how many years? - correct
answers✅✅five
An insured has a comprehensive major medical insurance policy
with a $1,000 deductible and 80/20 coinsurance. She incurs a bill
of $11,000. What will she pay in total? - correct
answers✅✅$3,000
Adam owns an individual long-term care policy that was issued in
Nebraska. Which of the following conditions must the policy
cover? - correct answers✅✅Alzheimer's disease
Tax law considers any limited payment life insurance policy that is
paid-up in seven years or less to be which of the following? -
correct answers✅✅a modified endowment contract
Eric fails to pay the annual premium on his major medical
insurance policy. The grace period provision allows him to pay the
premium within how many days after the due date? - correct
answers✅✅31
When can the owner of a deferred annuity select a settlement
option? - correct answers✅✅any time prior to annuitization
Questions and Answers
Before delivering a health insurance policy to a client, the
producer alters the insuring clause in a way that he believes will
benefit the insurance company. Which of the following statements
is true about this alteration? - correct answers✅✅It is
prohibited by the entire contract provision
Which organization offers health insurance to Nebraska residents
who are denied health insurance and unable to obtain coverage
from private companies due to pre-existing medical conditions? -
correct answers✅✅Nebraska Comprehensive Health Insurance
Pool
Newborn children are automatically covered under an insured's
individual health insurance policy for how long? - correct
answers✅✅from birth to 31 days
As beneficiary of her husband's life insurance, Beth chooses to
receive payments for life. However, she is guaranteed that the
payments will be made for ten years. Beth has chosen which of
the following? - correct answers✅✅life income with period
certain
Which method of determining the benefit amount is most
common in individual disability income policies? - correct
answers✅✅flat amount
Which statement describes the "pool of money" approach to
benefits under a long-term care insurance policy? - correct
,Nebraska Life and Health License Exam
Questions and Answers
answers✅✅Benefits are defined as a total sum of money from
which money can be drawn in any amount for as long as the
money lasts.
Which statement best describes the restrictions an insurer must
operate under when using information from the MIB? - correct
answers✅✅Insurers cannot rate or decline a life insurance
applicant based solely on MIB information.
Which of the following must HMO members use to receive
covered care? - correct answers✅✅HMO's network of
providers and caregivers
Which statement is correct about a buy-up option in a disability
income insurance policy for professionals? - correct
answers✅✅It lets the insured buy more coverage in the future
without evidence of insurability.
Bill believes he has a cause of action against his health insurer for
its refusal to pay benefits on a claim. He filed written proof of loss
on April 1. Not having received a response by May 1, he decides
to take legal action. What will his attorney probably do? - correct
answers✅✅advise him to wait
For tax purposes, a self-employed person includes all of the
following, EXCEPT: - correct answers✅✅an incorporated
business owner
, Nebraska Life and Health License Exam
Questions and Answers
The Director of Insurance can examine the business transactions,
accounts, and records of insurers as often as necessary, but must
do so at least once in how many years? - correct
answers✅✅five
An insured has a comprehensive major medical insurance policy
with a $1,000 deductible and 80/20 coinsurance. She incurs a bill
of $11,000. What will she pay in total? - correct
answers✅✅$3,000
Adam owns an individual long-term care policy that was issued in
Nebraska. Which of the following conditions must the policy
cover? - correct answers✅✅Alzheimer's disease
Tax law considers any limited payment life insurance policy that is
paid-up in seven years or less to be which of the following? -
correct answers✅✅a modified endowment contract
Eric fails to pay the annual premium on his major medical
insurance policy. The grace period provision allows him to pay the
premium within how many days after the due date? - correct
answers✅✅31
When can the owner of a deferred annuity select a settlement
option? - correct answers✅✅any time prior to annuitization
