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Life and Health Insurance Producer Exam

Policy provisions (NE): practice questions

Our Life & Health Insurance bank has 8 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Nebraska

Which individual health policies are exempt from Nebraska's ten-day free-look notice under 44-710.18?

  1. Policies sold to residents over age sixty-five
  2. Policies with a deductible over $1,000
  3. Policies sold by mail
  4. Single-premium nonrenewable policies
Show the answer

D. Single-premium nonrenewable policies — Neb. Rev. Stat. 44-710.18.

Question 2 · Nebraska

What grace period must a Nebraska life policy allow for premiums after the first year?

  1. Two weeks
  2. One month
  3. Sixty days, with no interest charged
  4. Ten days
Show the answer

B. One month — Neb. Rev. Stat. 44-502(2).

Question 3 · Nebraska

What grace period must a Nebraska individual health policy with monthly premiums allow?

  1. At least thirty-one days
  2. At least seven days
  3. At least sixty days
  4. At least ten days
Show the answer

D. At least ten days — Neb. Rev. Stat. 44-710.03(3).

Question 4 · Nebraska

How many days does a Nebraska individual life insurance or annuity buyer have to return the policy for a full premium refund?

  1. Fifteen days from the date the first premium is paid
  2. Twenty days from the application date
  3. Ten days from delivery
  4. Thirty days
Show the answer

C. Ten days from delivery — Neb. Rev. Stat. 44-502.05.

Question 5 · Nebraska

After how long does a Nebraska life policy become incontestable, apart from nonpayment of premium and certain permitted exclusions?

  1. Two years in force during the insured's lifetime
  2. Immediately upon delivery
  3. Three years, or five years if the insured is over sixty
  4. One year from the application date
Show the answer

A. Two years in force during the insured's lifetime — Neb. Rev. Stat. 44-502(5).

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