InsNV_Health02 Latest Study Plan, InsNV_Health02 Vce Exam

Prep4King has one of the most comprehensive and top-notch Insurance Licensing InsNV_Health02 Exam Questions. We eliminated the filler and simplified the NV Accident and Health exam preparation process so you can ace the Insurance Licensing certification exam on your first try. Our Insurance Licensing InsNV_Health02 Questions include real-world examples to help you learn the fundamentals of the subject not only for the Insurance Licensing exam but also for your future job.

Insurance Licensing InsNV_Health02 Exam Syllabus Topics:

Section	Weight	Objectives
Nevada Statutes and Codes Common to Life, Health, Property, and Casualty Insurance	20%	- Licensing 1. Obtaining a license 2. Persons required to be licensed 3. Suspension, revocation, and refusal of license 4. Renewal and continuing education 5. Name of licensee 6. Termination of license - Marketing Practices 1. Silver State Health Insurance Exchange 2. Affordable Care Act 3. Unfair practices Unfair claims methods and practices and settlement of claims Rebating and inducement Twisting Misrepresentation Fraud Unfair discrimination Defamation 4. Required records and record retention 5. Commissions and payment restrictions 6. Fiduciary responsibilities - Insurance Commissioner 1. Notice and hearings and penalties 2. General powers and duties 3. Examinations - Nevada Life and Health Insurance Guaranty Association - Definitions 1. Cost-sharing 2. Insurer 3. Transacting insurance 4. Authorized and unauthorized 5. Certificate of authority 6. Premiums 7. Domestic, foreign, and alien
Nevada Statutes and Codes Pertinent to Health Insurance Only	14%	- Hospice care - Availability of coverage for mental health and treatment of alcohol abuse and drug abuse - Coverage for reconstructive surgery - Long Term Care - Medicare 1. Medicare supplement regulation 2. Medicare Advantage Plans 3. Prescription Drug Plan - 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
Nevada Statutes and Codes Common to Life and Health Insurance Only	4%	- Group life and health insurance 1. Required provisions 2. Eligible groups - Credit life and health insurance - Advertising
Accident & Health – General Knowledge	50%	- Policy Provisions, Clauses, and Riders 1. Riders Impairment and exclusions Guaranteed insurability Future increase option 2. 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 3. 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 4. Rights of renewability Noncancelable Cancelable Guaranteed renewable - Social Insurance 1. Medicare Parts A, B, C, and D 2. Social Security benefits 3. Medicaid - Types of Policies 1. Disability income Individual disability income policy Business overhead expense policy Business disability buyout policy Group disability income policy Key employee policy 2. Accidental death and dismemberment 3. Medicare supplement policies 4. Other policies Dental Vision Cancer Critical illness or specified disease Worksite employer-sponsored Hospital indemnity Short-term medical Accident 5. Individual and Group Long Term Care Eligibility Levels of care 6. Group insurance Differences between individual and group contracts General characteristics COBRA 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 - Field Underwriting Procedures 1. Completing the application 2. Explaining policy provisions, riders, exclusions, and ratings 3. Contract law Elements of a contract Insurable interest Warranties and representations Unique aspects of the insurance contract 4. Sources of insurability and HIPAA privacy information 5. Policy delivery 6. Initial premium payment and receipt 7. Replacement 8. Submitting application and initial premium to company for underwriting - Other Insurance Concepts 1. Managed care 2. Occupational vs. non-occupational 3. Tax treatment of premiums and proceeds of insurance contracts 4. Nonduplication and coordination of benefits 5. Cost containment 6. Dependent children benefits 7. Subrogation 8. Primary and contingent beneficiaries 9. Workers Compensation 10. Total, partial, recurrent, and residual disability 11. Modes of premium payments 12. Owner's rights

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Insurance Licensing NV Accident and Health Sample Questions (Q45-Q50):

NEW QUESTION # 45
Which of the following statements is CORRECT about a Disability Income policy with a Guaranteed Insurability rider?

A. The insured must periodically provide proof of insurability to the insurance company.
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 insurance company must exchange the original policy for a new one at the insurability date.

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 # 46
Which of the following statements is correct about the Coordination of Benefits provision?

A. It allows an insured to change insurers without losing benefits.
B. It prevents an insured covered by two health plans from making a profit on a covered loss.
C. It prohibits an insurer from selling a health policy to an applicant who already has similar coverage.
D. It permits an insurer to defer paying a claim for a work-related injury until Workers ' Compensation Benefits have expired.

Answer: B

Explanation:
Coordination of Benefits, commonly called COB, applies when an insured is covered by more than one health plan. It establishes the order in which plans pay and limits the combined payment so the insured does not receive more than the amount of the covered expense. Choice B is correct because COB prevents a profit from duplicate health coverage while still allowing the insured to receive the benefits to which the insured is entitled. One plan is identified as primary and pays first under its policy terms. The secondary plan then considers the unpaid covered balance, subject to its own coordination provisions and limits. COB does not prohibit a person from owning more than one health policy, does not guarantee uninterrupted benefits when changing insurers, and does not authorize a general delay of a workers' compensation claim until benefits expire. Workers' compensation coordination depends on the applicable policy and governing law. On the examination, distinguish COB from nonduplication of benefits and from other insurance clauses; COB specifically allocates payment responsibility among multiple health plans. Study Guide References/Topics:
Group Health Insurance; Coordination of Benefits; Other Insurance Provisions.

NEW QUESTION # 47
All insurance companies and producers who sell Group Life or Accident and Health policies in Nevada MUST:

A. notify the Commissioner when individual certificates have been issued
B. deliver a policy to each insured member of a group
C. obtain a receipt when delivering individual certificates to insureds
D. deliver to the policyholder individual certificates for all insureds

Answer: D

Explanation:
Group insurance is generally issued through a master policy. The policyholder-often an employer, association, trustee, or creditor-receives the master contract. Individual insured members do not receive a separate master policy; instead, they receive certificates describing the coverage, benefits, limitations, and applicable rights.
Nevada requires companies, resident agents, and nonresident agents or brokers conducting group life or group accident and health business to provide for delivery of the required individual certificates to the policyholder.
They must also use their best efforts to ensure that the policyholder distributes the certificates to covered debtors, members, or employees. Accordingly, option B correctly states the required delivery process.
Option C is incorrect because each group member is not entitled to receive the full group policy. Option A adds a receipt requirement that is not the applicable rule. Option D is also incorrect because the regulation does not require notice to the Commissioner each time certificates are issued.
This requirement ensures that insured individuals receive understandable evidence of their group coverage even though the policyholder owns the master policy. Certificates are central to informing members of benefits, exclusions, and conversion rights.
Study Guide references/topics: group life insurance; group accident and health insurance; certificates of coverage; NAC 687B.405 .

NEW QUESTION # 48
In Nevada, which life insurance policy is subject to a 30-day right to surrender for a premium refund after delivery?

A. An industrial life policy
B. A replacement life insurance policy
C. A group life certificate
D. A standard nonreplacement life insurance policy

Answer: B

Explanation:
A replacement life insurance policy delivered in Nevada must provide a 30-day period during which the policyowner may surrender the policy to the insurer with a written request for cancellation and receive a refund of premiums paid, including policy fees or other charges. This longer review period recognizes the special risks associated with replacement transactions. Replacing existing coverage can cause the consumer to lose favorable values, restart contestability or suicide periods, incur surrender charges, or exchange a policy that better serves the client's long-term needs.
For a nonreplacement life policy, annuity contract, or pure endowment contract, Nevada generally requires a
10-day right of surrender after delivery. The applicable statute excludes industrial life insurance from this requirement. The producer must therefore identify whether a proposed transaction is a replacement and follow the related disclosure and recordkeeping requirements. The free-look period is a consumer-protection right; it does not excuse a producer from determining suitability or accurately comparing existing and proposed coverage before the sale.
On an examination question, the key distinction is not whether the policy is whole life, term life, or universal life. The key is whether it is a replacement contract or policy.
References/topics from the Study Guide: Replacement; Free-Look Provision; Nevada Consumer Protections; NRS 688A.165.

NEW QUESTION # 49
A $100,000 group Accidental Death and Dismemberment policy will pay double indemnity if the insured dies in a commercial airplane crash. If the insured is killed when flying to a business meeting on a commercial flight, the policy will pay a MAXIMUM of:

A. $300,000
B. $0
C. $200,000
D. $100,000

Answer: C

Explanation:
The correct answer is C, $200,000. The policy's principal sum is $100,000, and the double-indemnity provision pays twice that amount when death results from the stated qualifying accident: a commercial airplane crash. Because the insured was flying on a commercial flight and was killed in the crash, the maximum payable benefit is two times $100,000, or $200,000. The fact that the trip was to a business meeting does not reduce the benefit under the facts given. Choice A would be appropriate only if an exclusion applied, such as an excluded type of aviation activity. Choice B states only the policy's base amount and ignores the double-indemnity provision. Choice D incorrectly adds an additional amount beyond the stated double benefit. AD & D coverage pays only when the loss falls within the policy's accidental-loss definition and occurs within any stated loss period. Aviation wording matters: commercial passenger travel is commonly covered, while piloting, crew duties, private aircraft, or military aviation may be treated differently under the contract. Study Guide References/Topics: Group Health Insurance; Accidental Death and Dismemberment; Double Indemnity.

NEW QUESTION # 50
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