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Insurance Licensing InsNV_Health02 Exam Syllabus Topics:

SectionObjectives
Insurance Basics- Insurance Contracts
  • 1. Contract elements
    • 2. Policy provisions, riders, and exclusions
      - Risk Management and Insurance Concepts
      • 1. Insurance principles and contract characteristics
        • 2. Types of risk and methods of handling risk
          General Insurance Regulation- Nevada Insurance Department and Regulatory Authority
          • 1. Commissioner of Insurance powers and duties
            • 2. Insurance laws, rules, and regulations
              - Licensing Requirements and Responsibilities
              • 1. Producer licensing requirements
                • 2. Continuing education and license maintenance
                  Producer Duties and Ethics- Sales Practices
                  • 1. Advertising and marketing rules
                    • 2. Unfair trade practices
                      - Ethical Responsibilities
                      • 1. Fiduciary responsibilities
                        • 2. Consumer protection requirements
                          Accident and Health Insurance Fundamentals- Medical Expense Insurance
                          • 1. Hospital, surgical, and physician expense coverage
                            • 2. Major medical plans
                              - Disability Income Insurance
                              • 1. Elimination periods and benefit periods
                                • 2. Disability definitions and benefits
                                  - Types of Health Insurance Policies
                                  • 1. Group health insurance
                                    • 2. Individual health insurance
                                      • 3. Managed care plans
                                        Government Health Insurance Programs- Medicaid and Other Programs
                                        • 1. Medicaid eligibility and coverage
                                          - Medicare
                                          • 1. Medicare supplement insurance
                                            • 2. Medicare parts and eligibility
                                              Health Insurance Policy Provisions- Claims and Benefits
                                              • 1. Claim procedures
                                                • 2. Benefit determination and payment
                                                  - Mandatory and Optional Provisions
                                                  • 1. Renewability provisions
                                                    • 2. Policy requirements and clauses

                                                      Insurance Licensing NV Accident and Health Sample Questions:

                                                      1. Most insurance companies use the usual, customary, and reasonable (UCR) charges to:

                                                      A) pay dollars direct to the employers for health insurance
                                                      B) reimburse physicians for excess expense
                                                      C) limit the insurance company claims liability
                                                      D) reimburse the employee for expenses charged by the medical facilities


                                                      2. In order for a health insurance producer to be an Exchange Enrollment Facilitator (EEF), the producer:

                                                      A) can receive both commission and compensation as a facilitator
                                                      B) must surrender the producer ' s license and apply for an Exchange Enrollment Facilitator license
                                                      C) can receive commissions from the company in addition to the compensation as a facilitator
                                                      D) can offer advice to consumers resulting in the " steering " of the selection of coverage


                                                      3. When a nonqualified annuity is surrendered for more than the owner's investment in the contract, how is the gain generally treated for federal income-tax purposes?

                                                      A) As a deductible business loss
                                                      B) As a long-term capital gain in all cases
                                                      C) As ordinary income
                                                      D) As a tax-free return of principal only


                                                      4. After appointing a producer as its agent, when must an insurer generally file its notice of appointment with the Nevada Commissioner?

                                                      A) Before the producer completes any insurance training
                                                      B) Within 15 days after the contract is executed or the first application is submitted
                                                      C) Within 90 days after the first premium is collected
                                                      D) Only at the producer's next license renewal


                                                      5. Which statement is true of a variable life insurance policy?

                                                      A) The cash value is held only in the insurer's general account.
                                                      B) The policy is always a temporary term policy.
                                                      C) The cash value may fluctuate with separate-account investment performance.
                                                      D) The policyowner bears no investment risk.


                                                      Solutions:

                                                      Question # 1
                                                      Answer: C
                                                      Question # 2
                                                      Answer: B
                                                      Question # 3
                                                      Answer: C
                                                      Question # 4
                                                      Answer: B
                                                      Question # 5
                                                      Answer: C

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