Life Insurance Nevada Updated 2024/2025 Verified 100%
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Course
Life Insurance Nevada
Institution
Life Insurance Nevada
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? - Join...
Life Insurance Nevada
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 life
A life producer applying for a viatical settlement broker license may be exempt from the pre-licensing
education examination requirement if the producer held an active life license for at least how many
years? - 1 year
Which of the following actions by an insurance company will cause an examination by the
commissioner? - Application for an initial certificate of authority
How many days does a nonresidential producer have to file a change of address when the agent moves
to Nevada from another state? - 30 days
All advertisements are responsibility of - The insurer
Which of the following documents must be provided to the policy owner or applicant during policy
replacement? - Buyers guide and policy summary
A licensed agent in Utah wants to become a nonresident agent in Nevada in the same line of insurance.
Considering that all other requirements are met, which of the following would most likely happen? -
The agent will be exempt from education and examination requirements
Which of the following is required for a producer to transact business on behalf of an insurer? -
An agent appointment
All of the following could be considered rebating if offered to an insured in the sale of insurance except -
Dividends from a mutual insurer
, During the replacement of life insurance, a replacing insurer must do which of the following? -
Obtain a list of all life insurance policies that will be replaced
The commissioner of insurance is responsible for all of the following actions except - Setting new
premium rates
Which of the following licensees are not compensated directly related to the amount of insurance sold? -
Insurance consultant
Contracts that are prepared by one party and submitted to the other party on a take-it-or-leave-it basis
are classified as - Contracts of adhesion
What are the two components of a universal policy? - Insurance and cash amount
The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was
killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in
the policy specifies that the death must not be contributed to by the insured in any manner. In this case,
what will the policy beneficiary receive? - $100,000.00
The insured has chosen a joint and 2/3 survivor option. What does this mean to the beneficiaries? -
The surviving beneficiary will continue receive 2/3 of the benefit paid when both beneficiaries
were alive?
When requested by a person aggrieved by an act, a hearing must be held within how many days after
the commissioner receives the written demand? - 30 days
What is the definition of a unilateral contract? - One-sided. Only one part makes an enforceable
promise.
When a reduced paid-up nonforfeiture option is chosen, what happens to the face amount of the policy?
- It is reduced to the amount of what the cash value would buy as a single premium
All of the following are requirements for life insurance illustrations except - They must be part of
the contract
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