Nebraska Life and Health Exam
Questions and Answers A+ Guide
Which of the following best describes taxation during the
accumulation period of an annuity? - correct answers✅✅taxes
are deferred
Which of the following individuals will be eligible for coverage on
the Health Insurance Marketplace? - correct answers✅✅A
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? - correct
answers✅✅Promising 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 - correct
answers✅✅Protection in annuity transaction act
Children's rider attached to whole life policies are usually issued
as what type of insurance? - correct answers✅✅term
If a producer allows his license to lapse, within what maximum
time period may the same license be reinstated? - correct
answers✅✅12 months
What is the advantage of having a qualified annuity? - correct
answers✅✅Favorable tax treatment
,Nebraska Life and Health Exam
Questions and Answers A+ Guide
When both parties to a contract must perform certain duties and
follow rules of conduct to make the contract enforceable, the
contact is? - correct answers✅✅conditional
A policy with 31 day grace period Implies? - correct
answers✅✅The 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 - correct answers✅✅30 months
What types of services may NOT be provided under the long term
cares assisted living care? - correct answers✅✅Visits by a
registered nurse
The authority granted to an agent through the agent's contract is
referred to as - correct answers✅✅Express 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%
b)
50%
,Nebraska Life and Health Exam
Questions and Answers A+ Guide
c)
66 and 2/3%
d)
90% - correct answers✅✅66 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. - correct answers✅✅Charge 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. - correct answers✅✅Buy-sell agreements are normally
funded with a life insurance policy.
, Nebraska Life and Health Exam
Questions and Answers A+ Guide
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 - correct answers✅✅Limited 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 - correct answers✅✅Lower
Variable Life insurance is based on what kind of premium?
Graded
Level fixed
Increasing
Decreasing - correct answers✅✅Level fixed
Questions and Answers A+ Guide
Which of the following best describes taxation during the
accumulation period of an annuity? - correct answers✅✅taxes
are deferred
Which of the following individuals will be eligible for coverage on
the Health Insurance Marketplace? - correct answers✅✅A
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? - correct
answers✅✅Promising 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 - correct
answers✅✅Protection in annuity transaction act
Children's rider attached to whole life policies are usually issued
as what type of insurance? - correct answers✅✅term
If a producer allows his license to lapse, within what maximum
time period may the same license be reinstated? - correct
answers✅✅12 months
What is the advantage of having a qualified annuity? - correct
answers✅✅Favorable tax treatment
,Nebraska Life and Health Exam
Questions and Answers A+ Guide
When both parties to a contract must perform certain duties and
follow rules of conduct to make the contract enforceable, the
contact is? - correct answers✅✅conditional
A policy with 31 day grace period Implies? - correct
answers✅✅The 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 - correct answers✅✅30 months
What types of services may NOT be provided under the long term
cares assisted living care? - correct answers✅✅Visits by a
registered nurse
The authority granted to an agent through the agent's contract is
referred to as - correct answers✅✅Express 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%
b)
50%
,Nebraska Life and Health Exam
Questions and Answers A+ Guide
c)
66 and 2/3%
d)
90% - correct answers✅✅66 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. - correct answers✅✅Charge 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. - correct answers✅✅Buy-sell agreements are normally
funded with a life insurance policy.
, Nebraska Life and Health Exam
Questions and Answers A+ Guide
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 - correct answers✅✅Limited 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 - correct answers✅✅Lower
Variable Life insurance is based on what kind of premium?
Graded
Level fixed
Increasing
Decreasing - correct answers✅✅Level fixed
