100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Nevada Life and Health License Exam Prep Questions With Complete Solutions(Guaranteed Success)Already Passed!!! £10.12   Add to cart
Quickly navigate to
Preview
  2.  
  3. Course Nevada Life Insurance
  4.  
  5. Course Nevada Life Insurance

Exam (elaborations)

Nevada Life and Health License Exam Prep Questions With Complete Solutions(Guaranteed Success)Already Passed!!!
 18 views  0 purchase
  • Module
  • Course Nevada Life Insurance
  • Institution
  • Course Nevada Life Insurance

Nevada Life and Health License Exam Prep Questions With Complete Solutions(Guaranteed Success)Already Passed!!! What are the four required elements of an insurance contract? - correct answer...Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insu...

[Show more]

Preview 3 out of 24  pages

Document information

  • August 9, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • nevada life and health license exam prep questions

Written for

  • Course Nevada Life Insurance
  • Course Nevada Life Insurance

Seller

avatar-seller
agradesolutions

Reviews received

Content preview

Nevada Life and Health License Exam
Prep Questions With Complete
Solutions(Guaranteed Success)Already
Passed!!!
What are the four required elements of an insurance contract? - correct
answer...✔✔Agreement, consideration, competent parties, and legal purpose.

What two parts make up a life insurance application? - correct answer...✔✔General
Information and the Medical Information. An agent's report can go in a life insurance
application but is not included in the life insurance policy.

When must insurable interest exist in life insurance? - correct answer...✔✔At the time
of application.

When does coverage begin, if the premium was submitted with the application, and the
policy was issued two weeks later? - correct answer...✔✔At the time of the application.

If an agent makes a mistake on the application and then corrects it, who must initial that
change? - correct answer...✔✔The applicant.

Insurers may change what on a guaranteed renewable health insurance polity? - correct
answer...✔✔The rates by class.

At what age may an individual make withdrawals from an HSA for nonhealth purposes
without being penalized? - correct answer...✔✔At age 65.

Which provision states how much time must pass between two like illnesses in order for
the second one to be covered under a new set of benefits? - correct answer...✔✔
Recurrent Disability Provision

In forming an insurance contract, when does acceptance occur? - correct answer...✔✔
When an insurer's underwriter approves coverage

What is an important feature of a dental expense insurance plan that is not found in a
medical expense insurance plan? - correct answer...✔✔Diagnostic and preventive care

What best describes the "first-dollar coverage" principle in basic medical insurance? -
correct answer...✔✔The insured is not required to pay a deductible



AGRADESOLUTIONS

,Occasional visits by what medical professionals will not be covered under Long-Term
Care's home health care? - correct answer...✔✔Attending physicians

Can an individual who belongs to a POS plan use an out-of-network physician? - correct
answer...✔✔Yes, they can use any physician even if not part of the HMO

What is the advantage of reinstating a policy instead of applying for a new one? -
correct answer...✔✔The original age is used for premium determination

What would basic medical expense coverage not cover? - correct answer...✔✔
Surgeon's services

What is not provided by an HMO? - correct answer...✔✔Reimbursement

What insurance arrangements will be appropriate for a parent buying a life insurance
policy on a child where the parent is the policyowner? - correct answer...✔✔Third-party
ownership

What is not true about dividends? - correct answer...✔✔Dividend amounts are
guaranteed in the policy

What is not true about Accidental Death and Dismemberment? - correct answer...✔✔
Death benefits are paid only if death occurs within 24 hours of an accident

When would a 20-pay whole life policy endow? - correct answer...✔✔When the insured
reaches age 100

What section of a health policy that states the causes of eligible loss under which an
insurance is assumed to be disabled? - correct answer...✔✔Insuring Clause

The insurance clause of a disability policy usually states what except? - correct
answer...✔✔The method of premium payment

What best describes annually renewable term insurance? - correct answer...✔✔It is
level term insurance

What best describes an annuity period? - correct answer...✔✔Period of time during
which accumulated money is converted into income payments

What is an eligibility requirement for all Social Security Disability Income benefits? -
correct answer...✔✔Have attained fully insured status

What protects the insured from unintentional policy lapse due to a nonpayment of
premium? - correct answer...✔✔Automatic premium loan



AGRADESOLUTIONS

, What is the maximum amount that the Nevada Life & Health Insurance Guaranty
Association be obligated to pay with respect to life insurance death benefits for one life?
- correct answer...✔✔$300,000

What is the penalty for transacting insurance without a proper license? - correct
answer...✔✔$1,000 for each violation

What type of misrepresentation persuades an insured to cancel, lapse, or switch
policies from one to another? - correct answer...✔✔Twisting

The patient protection and affordable care act includes what except? - correct answer...
✔✔Individual tax deduction for premiums paid

What entity determines if an advertisement is deceptive of confusing? - correct
answer...✔✔The Commissioner

How many days does a nonresident procedure have to file a change of address when
the agent moves to Nevada from another state? - correct answer...✔✔30 days

What is not considered a misrepresentation? - correct answer...✔✔Making
comparisons between different policies

A producer who has allowed their license to lapse may reinstate the license without
retaking the examination within what maximum time period? - correct answer...✔✔12
months or 1 year

Who is a person, other than a viator, that enters into a viatical settlement? - correct
answer...✔✔Viatical Settlement Provider

How many days after cancellation of a license in another state does a new resident
agent have to apply for Nevada producer license without having to fulfill licensing
examination and education requirements? - correct answer...✔✔90 days

What are the three basic types of term life insurance? - correct answer...✔✔The three
basic types of term life insurance are level, increasing, and decreasing.

When would a whole life insurance policy mature? - correct answer...✔✔The whole life
insurance policy matures when the insured dies or turns 100.

Who is an annuitant? - correct answer...✔✔The annuitant is the person on whose life
expectancy the annuity is written and who receives benefits from the annuity.

What constitutes the entire contract? - correct answer...✔✔The entire contract
constitutes the policy, a copy of application, and any riders or amendments.



AGRADESOLUTIONS

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller agradesolutions. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £10.12. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75759 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£10.12
  • (0)
  Add to cart