2026 Insurance Licensing Marvelous InsNV_Health02: Dumps NV Accident and Health Collection

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Insurance Licensing InsNV_Health02 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Accident & Health – General Knowledge	50%	- Social Insurance 1. Medicaid 2. Medicare Parts A, B, C, and D 3. Social Security benefits - Types of Policies 1. Group insurance Differences between individual and group contracts General characteristics COBRA 2. Medicare supplement policies 3. Individual and Group Long Term Care Eligibility Levels of care 4. Disability income Individual disability income policy Business overhead expense policy Business disability buyout policy Group disability income policy Key employee policy 5. Other policies Dental Vision Cancer Critical illness or specified disease Worksite employer-sponsored Hospital indemnity Short-term medical Accident 6. Accidental death and dismemberment 7. Medical expense insurance Basic hospital, medical, and surgical policies Major medical policies Health Maintenance Organizations Preferred Provider Organizations Point of Service plans Flexible Spending Accounts High Deductible Health Plans and Health Savings Accounts Health Reimbursement Accounts - Policy Provisions, Clauses, and Riders 1. Rights of renewability Noncancelable Cancelable Guaranteed renewable 2. Other provisions and clauses Insuring clause Free look Consideration clause Probationary period Elimination period Waiver of premium Exclusions and limitations Preexisting conditions Coinsurance Deductibles Eligible expenses Copayments Pre-authorizations and prior approval requirements Usual, reasonable, and customary charges Lifetime, annual, or per cause maximum benefit limits 3. Riders Impairment and exclusions Guaranteed insurability Future increase option 4. Mandatory and optional provisions Entire contract Time limit on certain defenses Grace period Reinstatement Notice of claim Claim forms Proof of loss Time of payment of claims Payment of claims Physical examination and autopsy Legal actions Change of beneficiary Misstatement of age or gender Change of occupation Illegal occupation Relation of earnings to insurance - Field Underwriting Procedures 1. Policy delivery 2. Initial premium payment and receipt 3. Explaining policy provisions, riders, exclusions, and ratings 4. Replacement 5. Completing the application 6. Submitting application and initial premium to company for underwriting 7. Contract law Elements of a contract Insurable interest Warranties and representations Unique aspects of the insurance contract 8. Sources of insurability and HIPAA privacy information - Other Insurance Concepts 1. Workers Compensation 2. Dependent children benefits 3. Modes of premium payments 4. Occupational vs. non-occupational 5. Owner's rights 6. Nonduplication and coordination of benefits 7. Cost containment 8. Subrogation 9. Tax treatment of premiums and proceeds of insurance contracts 10. Total, partial, recurrent, and residual disability 11. Managed care 12. Primary and contingent beneficiaries
Topic 2: Nevada Statutes and Codes Pertinent to Health Insurance Only	14%	- Availability of coverage for mental health and treatment of alcohol abuse and drug abuse - Long Term Care - Hospice care - Medicare 1. Medicare supplement regulation 2. Prescription Drug Plan 3. Medicare Advantage Plans - Coverage for reconstructive surgery - Mandatory policy clauses and provisions 1. Coverage for newborn children 2. Coverage for preventive healthcare services 3. Coverage for physical handicap or intellectual disability for dependent children
Topic 3: Nevada Statutes and Codes Common to Life and Health Insurance Only	4%	- Advertising - Group life and health insurance 1. Eligible groups 2. Required provisions - Credit life and health insurance
Topic 4: Nevada Statutes and Codes Common to Life, Health, Property, and Casualty Insurance	20%	- Definitions 1. Certificate of authority 2. Authorized and unauthorized 3. Transacting insurance 4. Premiums 5. Insurer 6. Domestic, foreign, and alien 7. Cost-sharing - Marketing Practices 1. Commissions and payment restrictions 2. Required records and record retention 3. Fiduciary responsibilities 4. Silver State Health Insurance Exchange 5. Unfair practices Unfair claims methods and practices and settlement of claims Rebating and inducement Twisting Misrepresentation Fraud Unfair discrimination Defamation 6. Affordable Care Act - Nevada Life and Health Insurance Guaranty Association - Licensing 1. Name of licensee 2. Persons required to be licensed 3. Termination of license 4. Obtaining a license 5. Renewal and continuing education 6. Suspension, revocation, and refusal of license - Insurance Commissioner 1. Examinations 2. Notice and hearings and penalties 3. General powers and duties

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Insurance Licensing NV Accident and Health Sample Questions (Q40-Q45):

NEW QUESTION # 40
Which of the following statements is CORRECT about a Disability Income policy with a Guaranteed Insurability rider?

A. The insurance company must exchange the original policy for a new one at the insurability date.
B. The insurance company guarantees the premium rate for the life of the policy.
C. The insured may periodically increase the amount of benefits payable under the policy.
D. The insured must periodically provide proof of insurability to the insurance company.

Answer: C

Explanation:
A Guaranteed Insurability rider gives the disability income policyowner the right to purchase additional disability income coverage at stated future option dates without furnishing evidence of insurability. The rider is valuable because an insured's income may increase over time while health may decline; the rider allows benefit amounts to be increased when the option is exercised, subject to the rider's conditions and insurer limits. Therefore, choice C is correct. The rider does not guarantee a premium rate for life. Premiums for the added coverage are based on the insured's attained age and the insurer's rates applicable when the additional coverage is purchased. It also does not require periodic proof of insurability; eliminating that requirement is the central purpose of the rider. The existing policy remains in force and normally does not have to be exchanged for a new policy. On an examination, distinguish guaranteed insurability from noncancellable and guaranteed renewable provisions: those provisions concern renewability and premiums, whereas the rider concerns the future purchase of additional benefits. Study Guide References/Topics: Policy Provisions, Clauses, and Riders; Disability Income Insurance; Optional Benefits Riders.

NEW QUESTION # 41
Which person is the measuring life whose survival determines the timing and duration of annuity payments?

A. Beneficiary
B. Producer
C. Policyowner
D. Annuitant

Answer: D

Explanation:
The annuitant is the person whose life expectancy is used to determine the amount, timing, or duration of annuity payments. The annuitant is not necessarily the contract owner or the beneficiary. In many personally owned annuities, one person may occupy more than one role, but examination questions frequently separate them. The owner controls contractual rights, including premium payments, beneficiary changes, withdrawals when permitted, and surrender decisions. The annuitant is the measuring life. The beneficiary receives remaining contract value or death proceeds if the owner or annuitant dies, depending on the contract design.
During the accumulation period, the owner pays premiums or transfers funds into the annuity. During the annuitization period, the accumulated value is converted into a stream of income payments. The annuitant's age and selected payout option influence the payment calculation. A life-income option normally provides larger periodic payments for an older annuitant because the expected payment period is shorter.
Do not confuse the annuitant with the insured under life insurance. Life insurance is designed primarily to create a death benefit upon the insured's death. An annuity is designed primarily to provide income during life, although death-benefit provisions may apply before annuitization.
References/topics from the Study Guide: Annuities; Parties to an Annuity; Accumulation Period; Annuitization Period; Payout Options.

NEW QUESTION # 42
Life insurance death proceeds paid to a named beneficiary are generally:

A. Treated as a deductible premium refund
B. Subject to ordinary federal income tax in every case
C. Received free of federal income tax, subject to exceptions and special circumstances
D. Taxed as capital gains

Answer: C

Explanation:
Life insurance death proceeds paid to a named beneficiary are generally excluded from the beneficiary's gross income for federal income-tax purposes. This favorable treatment is one reason life insurance is widely used for family income protection, estate liquidity, business continuation, and debt protection. However, the producer should use the word "generally" because exceptions and special circumstances can affect taxation.
For example, interest paid by the insurer because it retains proceeds under an interest option is generally taxable as interest income. Transfers of a policy for valuable consideration can create a transfer-for-value issue. Business-owned life insurance can involve additional notice, consent, and tax rules. Estate-tax treatment is also separate from income-tax treatment; incidents of ownership or other estate-planning facts may cause proceeds to be included in the insured's taxable estate even though the beneficiary does not owe income tax on the benefit.
Premiums paid for personally owned life insurance are generally not deductible. The producer should not provide individualized tax or legal advice. The proper explanation is that life insurance provides a generally income-tax-favored death benefit, while policy ownership, beneficiary designation, business arrangements, and estate planning should be reviewed with qualified advisers.
References/topics from the Study Guide: Life Insurance Taxation; Death Proceeds; Transfer-for-Value Rule; Estate Tax Concepts; Business-Owned Life Insurance.

NEW QUESTION # 43
Under an individual Major Medical policy, a married policyowner has the right to take which of the following actions?

A. Add a newborn child to the policy without providing proof of insurability
B. Reinstate the policy within 3 years after it lapses
C. Sue the insurance company for not paying a claim within 30 days after submission of Proof of Loss
D. Demand binding arbitration if there is disagreement over a claim

Answer: A

Explanation:
Choice D is correct. A family health policy must provide coverage for a newborn child without requiring evidence of insurability at birth, subject to the policy's notice and premium requirements for continuation of coverage. This protects the child during the period when medical needs can arise immediately after birth and prevents underwriting from becoming a barrier to initial coverage. Nevada law recognizes family coverage for dependent children from birth and establishes rules governing newborn coverage. The policy may require notice and any additional premium within the specified period to continue coverage beyond the initial statutory protection. The other choices do not state standard rights under an individual major medical policy.
Arbitration is not automatically available merely because an insured disagrees with a claim decision. A proof of loss does not create an automatic right to sue precisely 30 days after submission. Reinstatement rights also operate under the policy's reinstatement provision and are not a universal three-year right. Nevada's statutory framework specifically addresses dependent and newborn coverage under individual health insurance. See NRS Chapter 689A . Study Guide References/Topics: Nevada-Specific Health Insurance Mandates and Rules; Individual Major Medical; Newborn Coverage.

NEW QUESTION # 44
Under a life insurance policy with a revocable beneficiary designation, who normally has the authority to change the beneficiary?

A. The beneficiary
B. The insurer
C. The policyowner
D. The insured, regardless of ownership

Answer: C

Explanation:
The policyowner normally holds the contractual rights known as incidents of ownership. When the beneficiary designation is revocable, the policyowner may generally change the beneficiary without obtaining that beneficiary's consent, provided the policy is in force and no assignment or court order restricts the right.
The owner may also ordinarily exercise other ownership rights, such as selecting premium-payment modes, assigning the policy, taking a policy loan when available, surrendering the policy for cash value, and electing settlement options.
The insured and the owner can be the same person, but they do not have to be. The insured is the person whose life is covered and whose death triggers payment of the death benefit. A beneficiary is the person or entity designated to receive policy proceeds. Those roles must be kept separate on examination questions. A revocable beneficiary has only an expectancy until the insured dies; by contrast, an irrevocable beneficiary usually has a vested interest that limits the owner's ability to change the designation or exercise certain policy rights without consent.
Correctly identifying the owner is essential because ownership determines control of the policy during the insured's lifetime.
References/topics from the Study Guide: Policyowners' Rights; Beneficiary Designations; Revocable and Irrevocable Beneficiaries; Assignments.

NEW QUESTION # 45
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