1|Page
Nevada Life & Health Insurance EXAM &STUDY GUIDE
||VERIFIED EXAM|| MOST RECENT EXAM ACTUAL
COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED
A+ ||NEWEST EXAM!!!
What foremost an applicant be provided with prior to policy
delivery if it's replacing an existing health policy? - Answer-
Notice regarding replacement.
Health insurance application forms must contain a
question asking the applicant whether the policy being
applied for is intended to replace a health policy currently
in force. If so the agent must provide the applicant with a
notice regarding replacement prior to delivering the policy.
A variable insurance policy: - Answer-Does not guarantee
a return of its investment accounts.
In contrast variable insurance products do not guarantee
contract cash values, and it is the policy owner who
assumes the investment risk. Variable life insurance
contracts do not make any promises as to either interest
rates or minimum cash values.
,2|Page
An individual disability income insurance applicant may be
required to submit all the following except: - Answer-
Spouses occupation.
In this situation, a spouse is occupation is not necessary
for the application
Which of the following statements about health
reimbursement arrangements (HRA) is correct? - Answer-
If the employee paid for qualified medical expenses, the
reimbursement may be tax-free.
Under a health reimbursement arrangement,
reimbursements may be tax-free if the employee paid for
qualified medical expenses
What is considered to be a characteristic of conditionally
Renewable Health insurance policy? - Answer-Premiums
may increase at time of renewal.
A conditionally Renewable Health entrance Paul's he can
increase premiums at the time of renewal.
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What action can policyholder take if an application for a
bank loan requires collateral? - Answer-Assign policy
ownership to the bank.
A policy owner may assign ownership of a policy to a bank
as collateral.
One of the stated purposes of the life and health insurance
guaranty association is to: - Answer-Assist in the
prevention of insurer insolvencies.
One of the stated purposes of the life and health insurance
guaranty association is to assist in the prevention of insure
insolvencies
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? - Answer-The daughter.
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With a common disaster Provision a policy owner can be
sure that is both insured and the primary beneficiary die
within a short period of time the death benefits will be paid
to contingent beneficiary
Which of the following types of policies pays a benefit if
the insured goes blind? - Answer-AD&D.
An accidental death and dismemberment policy can
provide financial benefits if an insured is killed loses limb
suffers blindness or is paralyzed in a covered accident.
Basic Medical Expense Insurance - Answer-has lower
benefit limits than Major Medical insurance.
Basic medical expense insurance typically has lower
benefit limits than major medical insurance.
The amount of coverage on a group credit life policy is
limited to: - Answer-the insured's total loan value.
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
Nevada Life & Health Insurance EXAM &STUDY GUIDE
||VERIFIED EXAM|| MOST RECENT EXAM ACTUAL
COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED
A+ ||NEWEST EXAM!!!
What foremost an applicant be provided with prior to policy
delivery if it's replacing an existing health policy? - Answer-
Notice regarding replacement.
Health insurance application forms must contain a
question asking the applicant whether the policy being
applied for is intended to replace a health policy currently
in force. If so the agent must provide the applicant with a
notice regarding replacement prior to delivering the policy.
A variable insurance policy: - Answer-Does not guarantee
a return of its investment accounts.
In contrast variable insurance products do not guarantee
contract cash values, and it is the policy owner who
assumes the investment risk. Variable life insurance
contracts do not make any promises as to either interest
rates or minimum cash values.
,2|Page
An individual disability income insurance applicant may be
required to submit all the following except: - Answer-
Spouses occupation.
In this situation, a spouse is occupation is not necessary
for the application
Which of the following statements about health
reimbursement arrangements (HRA) is correct? - Answer-
If the employee paid for qualified medical expenses, the
reimbursement may be tax-free.
Under a health reimbursement arrangement,
reimbursements may be tax-free if the employee paid for
qualified medical expenses
What is considered to be a characteristic of conditionally
Renewable Health insurance policy? - Answer-Premiums
may increase at time of renewal.
A conditionally Renewable Health entrance Paul's he can
increase premiums at the time of renewal.
,3|Page
What action can policyholder take if an application for a
bank loan requires collateral? - Answer-Assign policy
ownership to the bank.
A policy owner may assign ownership of a policy to a bank
as collateral.
One of the stated purposes of the life and health insurance
guaranty association is to: - Answer-Assist in the
prevention of insurer insolvencies.
One of the stated purposes of the life and health insurance
guaranty association is to assist in the prevention of insure
insolvencies
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? - Answer-The daughter.
, 4|Page
With a common disaster Provision a policy owner can be
sure that is both insured and the primary beneficiary die
within a short period of time the death benefits will be paid
to contingent beneficiary
Which of the following types of policies pays a benefit if
the insured goes blind? - Answer-AD&D.
An accidental death and dismemberment policy can
provide financial benefits if an insured is killed loses limb
suffers blindness or is paralyzed in a covered accident.
Basic Medical Expense Insurance - Answer-has lower
benefit limits than Major Medical insurance.
Basic medical expense insurance typically has lower
benefit limits than major medical insurance.
The amount of coverage on a group credit life policy is
limited to: - Answer-the insured's total loan value.
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
