6. NV - Life Insurance Practice Final Examination All Answers Correct
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6. NV - Life Insurance Practice Exm
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6. NV - Life Insurance Practice Exm
6. NV - Life Insurance Practice Final Examination All Answers
Correct
Jason is the insured in a $100,000, 10 year renewable term policy. Soon after taking out the policy, he
develops a serious heart condition. Which of the following statement is CORRECT?
a. Since the condition manifested af...
6. NV - Life Insurance Practice Final Examination All Answers
Correct
Jason is the insured in a $100,000, 10 year renewable term policy. Soon after taking out the policy, he
develops a serious heart condition. Which of the following statement is CORRECT?
a. Since the condition manifested after the policy was issued, he will not be able to renew his policy.
b. Jason will be able to renew his policy
c. It will be necessary for Jason to show evidence of insurability in order to renew the policy
d. If Jason renews his policy, it will be rated for his health condition. ✔️✔️b. Jason will be able to
renew his policy
What is the difference between "primary insurance" and "secondary insurance" in Nevada?
Primary insurance is the main insurance that pays first when a claim is made, while secondary insurance
supplements the primary insurance by covering remaining costs such as co-pays, co-insurance, or
deductibles. ✔️✔️
What is a "flexible benefits plan" in Nevada health insurance?
A flexible benefits plan in Nevada allows policyholders to choose from a variety of benefits or services
offered by their employer, often on a pre-tax basis, such as health insurance, dental, vision, and
dependent care. ✔️✔️
What is the "rider" on a life insurance policy in Nevada?
A rider is an additional feature added to a life insurance policy in Nevada to customize the coverage,
such as adding critical illness, accidental death, or waiver of premium coverage. ✔️✔️
What is "medically necessary" care in Nevada health insurance?
Medically necessary care in Nevada refers to health services that are required to diagnose or treat a
condition, illness, or injury and are considered appropriate based on medical standards. ✔️✔️
What is "accidental death and dismemberment insurance" in Nevada?
, Accidental death and dismemberment (AD&D) insurance in Nevada provides a death benefit or financial
compensation if the insured suffers a fatal accident or loses a body part due to an accident. ✔️✔️
How are life insurance beneficiaries paid in Nevada?
In Nevada, life insurance beneficiaries are typically paid the death benefit in a lump sum, though they
may also choose periodic payments or an annuity, depending on the policy terms. ✔️✔️
What is the "exclusion clause" in a health insurance policy in Nevada?
An exclusion clause in a health insurance policy in Nevada refers to situations or conditions that are not
covered by the policy, such as certain pre-existing conditions, elective surgeries, or experimental
treatments. ✔️✔️
Can Nevada residents apply for health insurance with a previous health condition?
Yes, under the Affordable Care Act, Nevada residents cannot be denied health insurance coverage or
charged higher premiums based on pre-existing health conditions. ✔️✔️
What is the "morbidity table" used in health and life insurance in Nevada?
A morbidity table is used by insurers in Nevada to predict the likelihood of illness, injury, or disability
occurring within a population, helping them determine rates for health insurance and disability policies.
✔️✔️
What is the "death benefit" in a life insurance policy in Nevada?
The death benefit in a Nevada life insurance policy is the amount of money paid to the beneficiaries
upon the death of the insured person. This amount is generally tax-free. ✔️✔️
What is the "underwriting process" in health insurance in Nevada?
The underwriting process in Nevada health insurance involves the evaluation of an applicant’s health
history, lifestyle, and other factors to determine eligibility for coverage and to set premium rates.
✔️✔️
What is "long-term care insurance" in Nevada?
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