Nevada Insurance Verified Package Deal With Real Tests

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 appli...

Medicare Part B - Pays for doctors services and a variety of other medical services and supplies that are not covered by hospital service. Offered to anyone w part A. May have to pay a monthly premium. After annual deductible is met, 80% is usually paid by medicare and 20% is left. Insuring claus...

Gramm-Leach-Bliley Act - Passed to protect private customer information that is filed with a financial institution. Customers must be given two disclosure notices (one at the onset of business and one before information is disclosed), as well as a yearly updated disclosure notice Fair Credit Repo...

An insured owns a $50,000 whole life policy. At age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. What would be the face amount of the new term policy? - $50,000 An insured has chosen joint and 2/3 surv...

Which rule would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance? A Disclosure rule B Replacement rule C Reinstatement rule D Conversion rule - B When a viator sells a life insurance policy, A Collateral assignment is given to...

indexed whole life - cash value is dependent upon the performance of the equity index although there is a guaranteed minimum interest rate universal life (flexible premium adjustable life) - policyowner has the flexibility to increase/decrease amount of premium paid into policy; policyowner may s...

What protects the insured from unintentional policy lapse due to a nonpayment of premium? - Automatic premium loan What is an important feature of a dental expense insurance plan that is not found in a medical expense insurance plan? - Diagnostic and preventive care What two parts make up a life...

K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the common disaster clause if K and her husband were both killed in an automotive accident, where would the death proceeds be directed? - The daughter. What foremost an applicant be pr...

Skilled nursing facility care - Part A pays for up to 100 days of skilled nursing facility care following a 3 day inpatient hospital care. first 20 free, 21-100 daily deductible. Guaranteed Insurability Rider (future increase option/guaranteed purchase option) - Allows the insured to purchase add...

Twin brothers are starting a new business. They know it will take several years to build the business to the point that they can pay off the debt incurred in starting the business. What type of insurance would be the most affordable and still provide a death benefit should one of them die? - Joint...

when applying for an individual life insurance policy and applicant states that he went to the doctor for nausea but fails to mention that he was also experiencing severe chest pains, this is an example of - Concealment A tornado that destroys property would be an example of A. Pure Risk B. A l...