NEBRASKA INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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Course
NEBRASKA INSURANCE
Institution
NEBRASKA INSURANCE
NEBRASKA INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
Who is protected with the "other insurance with this insurer" provision? - Precise Answer Insurance company
A nonparticipating whole life insurance policy was surrendered for its $20,000 cash value. The total premiums paid had t...
NEBRASKA INSURANCE EXAM
2024/2025 WITH 100% ACCURATE
SOLUTIONS
Who is protected with the "other insurance with this insurer" provision?
- Precise 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? - Precise 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 - Precise Answer ✔✔level term for a stated period of
time
What is considered the collateral on a life insurance policy loan? -
Precise Answer ✔✔The policy's cash value
Each of the following will trigger a benefit under the Presumptive
Disability provision, EXCEPT - Precise Answer ✔✔loss of any one
limb
,In Nebraska, a long-term care policy which lapses may be reinstated
within five months if - Precise 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) - Precise Answer ✔✔attorney-in-fact
Which of the following outlines the authority given to the Producer on
behalf of the insurer? - Precise Answer ✔✔Producer contract
An accident and health plan that typically covers only the services of
approved providers is called a(n) - Precise Answer ✔✔HMO plan
Which of the following statements BEST describes the HIPAA
portability rules for an individual who changes from one group medical
plan to another? - Precise Answer ✔✔Reduces or eliminates any pre-
existing conditions excluded under the new plan
How do benefit payments fluctuate over time in a variable life annuity? -
Precise Answer ✔✔Reflects changes in the market value of assets in a
separate account
Twisting means - Precise Answer ✔✔Persuading an insured, to the
insured's detriment, to switch policies
, Some standard Medicare Supplement policies include which benefit? -
Precise Answer ✔✔vison care
Advertisements of Medicare Supplement Plans require state approval for
each of the following EXCEPT - Precise Answer ✔✔Government
publications
Within how many days must an insured be notified in writing if the
owner or beneficiary of a viatical settlement changes? - Precise Answer
✔✔20 days
Which of the following financial products creates an instant estate, no
matter when the date of death? - Precise Answer ✔✔Life insurance
Insurable interest in one's own life generally is regarded as - Precise
Answer ✔✔unlimited
Which of the following statements BEST describes disability buy-sell
insurance policies? - Precise Answer ✔✔Policy proceeds are typically
received tax-free
Which of these procedures is NOT designed for ambulatory care
centers? - Precise Answer ✔✔Inpatient surgery
When is it acceptable for a producer to leave an applicant an incomplete
illustration? - Precise Answer ✔✔Never
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