- Study guides, Class notes & Summaries

Nevada Life, Accident, Health Insurance Exam Practice Questions and Answers 100% Pass What are the 2 types of Flexible Spending Accounts? - ANSWER-Health care accounts and Dependent care accounts Concerning a Whole Life Policy, which of the following statements is correct? - ANSWER-Cash value is guaranteed According to the rights of renewability rider for cancellable policies, all of the following are correct about the cancellation of an individual insurance policy EXCEPT - ANSWER-Unearn...

Nevada Life & Health Insurance Exam Practice Questions and Answers 100% Pass term insurance - ANSWER-temporary protection because it only provides coverage for a specific period of time face amount - ANSWER-death benefit 3 basic types of term coverage - ANSWER-level, increasing, decreasing - based on how the face amount changes during the policy term What is the premium in term insurance? - ANSWER-regardless of type of term insurance purchased, premium is level throughout the term of pol...

Nevada Life and Health License Exam Prep Questions with Correct Answers 100% Pass What are the four required elements of an insurance contract? - ANSWER- Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? - 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? ...

Nevada Life and Health Exam Simulator (200 questions) with Correct Answers 100% Pass Z owns a disability income policy with a 30 day elimination period. Z contracts pneumonia that leaves him unable to work from January 1 until January 15. He then becomes disabled from an accident on February 1 and the disability last until July 1 the same year. She will become eligible to receive benefits starting on? - ANSWER- March 1. The elimination period is the period of time between the onset of a d...

NV Health Final Exam 1 Practice Questions and Answers 100% Pass Which law requires the applicant be notified before a consumer report is ordered: - ANSWER-Fair Credit Reporting Act The Insuring Clause of an A&H policy usually states all of the following, EXCEPT: A. That insurance against loss is provided B. That a loss must result directly from stated accidents or sicknesses C. The method of premium payment D. The identities of the insurance company and the insured - ANSWER-C. The metho...

Nevada Statutes-Health and Life Insurance Study Guide Solutions Domestic insurer - ANSWER-insurance company that is incorporated in this state. Domicile is when e company's home office is in the state in which it was formed. If a company was chartered in Nevada it would be a Nevada domesticated company. Foreign insurer - ANSWER-An insurance company that is incorporated in another state or territorial possession. A company chartered in California would be a foreign company in New York ...

Nevada Life & Health Insurance Questions and Answers |Expert Verified 20242025

©THEBRIGHT EXAM STUDY SOLUTIONS 8/27/2024 12:01 PM Nevada Property & Casualty Exam Questions With Correct Answers Agreed value - answerProperty policy with a provision agreed upon by the insurer and insured as to the amount of insurance that represents a fair valuation for the property at the time the insurance is written. At the time of a loss, the policy pays the agreed value as specific on the policy schedule, regardless of the insured property's appreciation or depreciaion. Absolute...

6. NV - Life Insurance Practice Final Examination Questions With Correct Answers Jason is the insured in a $100,000, 10 year renewable term policy. Soon after taking out the policy, he develops a serious heart condition. Which of the following statement is CORRECT? a. Since the condition manifested after the policy was issued, he will not be able to renew his policy. b. Jason will be able to renew his policy c. It will be necessary for Jason to show evidence of insurability in order to r...