Nebraska Life and Health License Exam
Questions and Answers (Latest Update
2024)
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 Answer
✅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 Answer ✅Nebraska
Comprehensive Health Insurance Pool
Newborn children are automatically covered under an
insured's individual health insurance policy for how long? -
Correct Answer ✅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 Answer ✅life income with
period certain
,Nebraska Life and Health License Exam
Questions and Answers (Latest Update
2024)
Which method of determining the benefit amount is most
common in individual disability income policies? - Correct
Answer ✅flat amount
Which statement describes the "pool of money" approach to
benefits under a long-term care insurance policy? - Correct
Answer ✅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 Answer ✅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 Answer ✅HMO's network of
providers and caregivers
,Nebraska Life and Health License Exam
Questions and Answers (Latest Update
2024)
Which statement is correct about a buy-up option in a
disability income insurance policy for professionals? -
Correct Answer ✅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 Answer ✅advise him to
wait
For tax purposes, a self-employed person includes all of the
following, EXCEPT: - Correct Answer ✅an incorporated
business owner
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 Answer ✅five
, Nebraska Life and Health License Exam
Questions and Answers (Latest Update
2024)
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
Answer ✅$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 Answer ✅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 Answer ✅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 Answer ✅31
When can the owner of a deferred annuity select a settlement
option? - Correct Answer ✅any time prior to annuitization
Questions and Answers (Latest Update
2024)
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 Answer
✅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 Answer ✅Nebraska
Comprehensive Health Insurance Pool
Newborn children are automatically covered under an
insured's individual health insurance policy for how long? -
Correct Answer ✅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 Answer ✅life income with
period certain
,Nebraska Life and Health License Exam
Questions and Answers (Latest Update
2024)
Which method of determining the benefit amount is most
common in individual disability income policies? - Correct
Answer ✅flat amount
Which statement describes the "pool of money" approach to
benefits under a long-term care insurance policy? - Correct
Answer ✅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 Answer ✅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 Answer ✅HMO's network of
providers and caregivers
,Nebraska Life and Health License Exam
Questions and Answers (Latest Update
2024)
Which statement is correct about a buy-up option in a
disability income insurance policy for professionals? -
Correct Answer ✅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 Answer ✅advise him to
wait
For tax purposes, a self-employed person includes all of the
following, EXCEPT: - Correct Answer ✅an incorporated
business owner
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 Answer ✅five
, Nebraska Life and Health License Exam
Questions and Answers (Latest Update
2024)
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
Answer ✅$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 Answer ✅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 Answer ✅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 Answer ✅31
When can the owner of a deferred annuity select a settlement
option? - Correct Answer ✅any time prior to annuitization
