1
NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST
2026 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
What are the four required elements of an insurance contract? -
(answers)Agreement, consideration, competent parties, and legal purpose.
What two parts make up a life insurance application? - (answers)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? - (answers)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? - (answers)At the time of the
application.
If an agent makes a mistake on the application and then corrects it, who must
initial that change? - (answers)The applicant.
Insurers may change what on a guaranteed renewable health insurance polity? -
(answers)The rates by class.
, 2
At what age may an individual make withdrawals from an HSA for nonhealth
purposes without being penalized? - (answers)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? -
(answers)Recurrent Disability Provision
In forming an insurance contract, when does acceptance occur? - (answers)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? - (answers)Diagnostic and preventive care
What best describes the "first-dollar coverage" principle in basic medical
insurance? - (answers)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? - (answers)Attending physicians
Can an individual who belongs to a POS plan use an out-of-network physician? -
(answers)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? -
(answers)The original age is used for premium determination
, 3
What would basic medical expense coverage not cover? - (answers)Surgeon's
services
What is not provided by an HMO? - (answers)Reimbursement
What insurance arrangements will be appropriate for a parent buying a life
insurance policy on a child where the parent is the policyowner? - (answers)Third-
party ownership
What is not true about dividends? - (answers)Dividend amounts are guaranteed in
the policy
What is not true about Accidental Death and Dismemberment? - (answers)Death
benefits are paid only if death occurs within 24 hours of an accident
When would a 20-pay whole life policy endow? - (answers)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? - (answers)Insuring Clause
The insurance clause of a disability policy usually states what except? -
(answers)The method of premium payment
, 4
What best describes annually renewable term insurance? - (answers)It is level
term insurance
What best describes an annuity period? - (answers)Period of time during which
accumulated money is converted into income payments
What is an eligibility requirement for all Social Security Disability Income benefits?
- (answers)Have attained fully insured status
What protects the insured from unintentional policy lapse due to a nonpayment
of premium? - (answers)Automatic premium loan
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? - (answers)$300,000
What is the penalty for transacting insurance without a proper license? -
(answers)$1,000 for each violation
What type of misrepresentation persuades an insured to cancel, lapse, or switch
policies from one to another? - (answers)Twisting
The patient protection and affordable care act includes what except? -
(answers)Individual tax deduction for premiums paid
NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST
2026 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
What are the four required elements of an insurance contract? -
(answers)Agreement, consideration, competent parties, and legal purpose.
What two parts make up a life insurance application? - (answers)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? - (answers)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? - (answers)At the time of the
application.
If an agent makes a mistake on the application and then corrects it, who must
initial that change? - (answers)The applicant.
Insurers may change what on a guaranteed renewable health insurance polity? -
(answers)The rates by class.
, 2
At what age may an individual make withdrawals from an HSA for nonhealth
purposes without being penalized? - (answers)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? -
(answers)Recurrent Disability Provision
In forming an insurance contract, when does acceptance occur? - (answers)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? - (answers)Diagnostic and preventive care
What best describes the "first-dollar coverage" principle in basic medical
insurance? - (answers)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? - (answers)Attending physicians
Can an individual who belongs to a POS plan use an out-of-network physician? -
(answers)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? -
(answers)The original age is used for premium determination
, 3
What would basic medical expense coverage not cover? - (answers)Surgeon's
services
What is not provided by an HMO? - (answers)Reimbursement
What insurance arrangements will be appropriate for a parent buying a life
insurance policy on a child where the parent is the policyowner? - (answers)Third-
party ownership
What is not true about dividends? - (answers)Dividend amounts are guaranteed in
the policy
What is not true about Accidental Death and Dismemberment? - (answers)Death
benefits are paid only if death occurs within 24 hours of an accident
When would a 20-pay whole life policy endow? - (answers)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? - (answers)Insuring Clause
The insurance clause of a disability policy usually states what except? -
(answers)The method of premium payment
, 4
What best describes annually renewable term insurance? - (answers)It is level
term insurance
What best describes an annuity period? - (answers)Period of time during which
accumulated money is converted into income payments
What is an eligibility requirement for all Social Security Disability Income benefits?
- (answers)Have attained fully insured status
What protects the insured from unintentional policy lapse due to a nonpayment
of premium? - (answers)Automatic premium loan
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? - (answers)$300,000
What is the penalty for transacting insurance without a proper license? -
(answers)$1,000 for each violation
What type of misrepresentation persuades an insured to cancel, lapse, or switch
policies from one to another? - (answers)Twisting
The patient protection and affordable care act includes what except? -
(answers)Individual tax deduction for premiums paid
