NEVADA LIFE AND HEALTH LICENSE EXAM
VERSION 1&2 2024| 500+ REAL EXAM QUESTIONS
WITH 100%CORRECT ANSWERS| SCORED A+
EXAM VERSION 1
What are the four required elements of an insurance contract?RIGHT
SOLUTION Agreement, consideration, competent parties, and legal
purpose.
What two parts make up a life insurance application? RIGHT
SOLUTION 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? RIGHT
SOLUTION 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? RIGHT SOLUTION At the
time of the application.
If an agent makes a mistake on the application and then corrects it, who must
initial that change? RIGHT SOLUTION The applicant.
Insurers may change what on a guaranteed renewable health insurance polity?
RIGHT SOLUTION The rates by class.
At what age may an individual make withdrawals from an HSA for nonhealth
purposes without being penalized? RIGHT SOLUTION 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?
RI
GHT SOLUTION Recurrent Disability Provision
In forming an insurance contract, when does acceptance occur? RIGHT
SOLUTION 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? RIGHT SOLUTION Diagnostic and
preventive care
What best describes the "first-dollar coverage" principle in basic medical
insurance? RIGHT SOLUTION The insured is not required to pay
a deductible
Occasional visits by what medical professionals will not be covered under Long-
, Term Care's home health care? RIGHT SOLUTION Attending
physicians
Can an individual who belongs to a POS plan use an out-of-network physician?
RIGHT SOLUTION 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?
RIGHT SOLUTION The original age is used for premium determination
What would basic medical expense coverage not cover? RIGHT
SOLUTION Surgeon's services
What is not provided by an HMO? RIGHT SOLUTION Reimbursement
What insurance arrangements will be appropriate for a parent buying a life
insurance policy on a child where the parent is the policyowner? RIGHT
SOLUTION Third- party ownership
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