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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Accident and Health — General Knowledge | ~68% | - Types of Health Insurance Policies
|
| Topic 2: Nevada Statutes, Rules and Regulations | ~32% | - General State Insurance Regulations
|
>> InsNV_Health02 Reliable Dumps Sheet <<
The software is designed for use on a Windows computer. This software helps hopefuls improve their performance on subsequent attempts by recording and analyzing NV Accident and Health (InsNV_Health02) exam results. Like the actual Insurance Licensing InsNV_Health02 Certification Exam, NV Accident and Health (InsNV_Health02) practice exam software has a certain number of questions and allocated time to answer.
NEW QUESTION # 26
A producer offers a prospective life insurance applicant a gift card that is not stated in the policy as an inducement to purchase coverage. Which prohibited practice is most directly implicated?
Answer: C
Explanation:
Rebating occurs when a producer or insurer offers, gives, or allows an inducement not specified in the policy to persuade a person to purchase insurance. A gift card offered solely because the applicant buys a life or health policy is a classic example of a potentially prohibited rebate. Nevada trade-practice law restricts rebates and other improper inducements because they can create unfair competition, mislead consumers, and distort insurance pricing.
The prohibition does not mean that every item of nominal value, educational material, or lawful consumer program is automatically illegal. The legality of a benefit depends on the statute, regulations, insurer programs, value, purpose, and whether it is tied improperly to the sale. Producers should follow current Nevada rules and insurer compliance guidance before offering anything of value in connection with a sale.
Coinsurance is a health-policy cost-sharing method. Subrogation is an insurer's right to recover from a responsible third party after paying a loss. Assignment transfers some or all policy rights from one party to another. None of those terms describes an improper sales inducement.
A producer should avoid promising gifts, refunds, premium reductions, or extra benefits unless specifically authorized and properly disclosed under applicable law and policy provisions.
References/topics from the Study Guide: Unfair Trade Practices; Rebating; Inducements; Producer Ethics; NRS 686A.110.
NEW QUESTION # 27
When must insurable interest generally exist in a life insurance transaction?
Answer: A
Explanation:
Insurable interest must generally exist when a life insurance policy is issued. It is the lawful financial or personal interest that prevents life insurance from becoming a wagering arrangement. A person has an unlimited insurable interest in that person's own life and may name any lawful beneficiary. Insurable interest also commonly exists among close family members because of love and affection, and in certain business relationships where one person or entity would suffer a financial loss from another person's death.
Once a policy is validly issued with insurable interest, the interest does not generally need to continue until the insured's death. For example, a business may purchase life insurance on a key employee when a valid economic relationship exists. If the relationship later changes, the policy's continued validity is not automatically destroyed solely because the original financial relationship ended. However, ownership transfers, stranger-originated life insurance arrangements, and transactions designed to evade insurable- interest requirements raise significant legal and ethical concerns.
Insurable interest differs from beneficiary status. A beneficiary need not always have an insurable interest if the policyowner is insuring the policyowner's own life. The critical point is that the policy must be procured lawfully at inception.
References/topics from the Study Guide: Insurable Interest; Policy Ownership; Beneficiary Designations; Business Life Insurance; Contract Law.
NEW QUESTION # 28
Which of the following is permitted by a licensee?
Answer: C
Explanation:
A licensee may give a client a nominal gift, such as an ordinary Christmas gift, so long as the gift complies with Nevada's statutory limits and is not used as an unlawful inducement. Nevada permits producers and insurers to provide certain gifts, goods, gift certificates, meals, event tickets, and similar items to a policyholder or prospective policyholder up to an aggregate value of $100 in a calendar year.
Rebating is prohibited. A producer may not reduce the premium by giving back all or part of a commission, nor may the producer return a commission to induce the client to buy, retain, or renew insurance. The prohibition protects consumers and preserves fair competition by requiring premiums and policy benefits to be applied consistently.
Altering an application to obtain a lower premium is also prohibited. Application answers must accurately reflect the applicant's information. Knowingly changing material information can constitute misrepresentation, fraud, and grounds for producer discipline.
The exam distinction is straightforward: a modest, permitted gift is lawful; a rebate, commission return, or falsification of application information is not.
Study Guide references/topics: rebating; inducements; producer ethics; application accuracy; NRS 686A.110 .
NEW QUESTION # 29
Under an individual health policy issued in Nevada, a newborn is automatically covered for a MAXIMUM of how many days after birth?
Answer: C
Explanation:
A newborn is automatically covered under the applicable Nevada health-policy rule for 31 days after birth.
Coverage begins from the moment of birth and includes necessary care and treatment for injury or sickness, including medically diagnosed congenital defects and birth abnormalities.
To continue coverage beyond the initial 31-day period, the policy may require timely notice of the birth and payment of any additional premium or fee required by the insurer. The notification and payment requirement must be satisfied within the 31-day period if the policy requires it. This rule protects newborns during the immediate post-birth period, when medical care may be urgently necessary.
The automatic coverage is not limited to routine newborn care. It includes necessary treatment of medical conditions identified at birth, subject to the policy's applicable limits. The law also prevents the policy from excluding premature births under the mandated newborn coverage.
Two, five, and ten days are incorrect because they would not provide the statutory protection required for newborn coverage. The exam point is that the initial automatic period is 31 days, while continuation beyond that period may require prompt enrollment action by the insured.
Study Guide references/topics: individual health insurance; newborn coverage; congenital defects; notification requirements; Nevada newborn-coverage requirements .
NEW QUESTION # 30
Under federal law, a tax exempt Health Savings Account can only be opened for an individual who is:
Answer: C
Explanation:
A Health Savings Account is available only to an eligible individual, and a central eligibility requirement is coverage under a qualified High Deductible Health Plan. Therefore, choice A is correct. The individual also generally must not have disqualifying other health coverage, be enrolled in Medicare, or be claimable as another person's tax dependent. Long-term care insurance does not itself establish HSA eligibility. Medicare enrollment generally prevents new HSA contributions, although the account balance may still be used for qualified expenses under applicable tax rules. An HSA offers tax-favored contributions, tax-deferred growth, and tax-free distributions for qualified medical expenses when statutory requirements are met. The HDHP must satisfy annual federal deductible and out-of-pocket limits, which are adjusted periodically. The IRS states that eligible individuals must have HDHP coverage and no disqualifying health coverage to make HSA contributions. See IRS HSA guidance . Study Guide References/Topics: Taxation and Business Uses of Health Insurance; Health Savings Accounts; High Deductible Health Plans.
NEW QUESTION # 31
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