NEVADA LIFE & HEALTH INSURANCE ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
SOLUTIONS
◉ 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? Answer: 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? Answer:
At the time of the application.
◉ If an agent makes a mistake on the application and then corrects
it, who must initial that change? Answer: The applicant.
◉ Insurers may change what on a guaranteed renewable health
insurance polity? Answer: The rates by class.
,◉ At what age may an individual make withdrawals from an HSA for
nonhealth purposes without being penalized? Answer: 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? Answer: Recurrent Disability Provision
◉ In forming an insurance contract, when does acceptance occur?
Answer: 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? Answer:
Diagnostic and preventive care
◉ What best describes the "first-dollar coverage" principle in basic
medical insurance? Answer: 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? Answer:
Attending physicians
◉ Can an individual who belongs to a POS plan use an out-of-
network physician? Answer: 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? Answer: The original age is used for premium
determination
◉ What would basic medical expense coverage not cover? Answer:
Surgeon's services
◉ What is not provided by an HMO? Answer: Reimbursement
◉ What insurance arrangements will be appropriate for a parent
buying a life insurance policy on a child where the parent is the
policyowner? Answer: Third-party ownership
◉ What is not true about dividends? Answer: Dividend amounts are
guaranteed in the policy
◉ What is not true about Accidental Death and Dismemberment?
Answer: Death benefits are paid only if death occurs within 24 hours
of an accident
◉ When would a 20-pay whole life policy endow? Answer: 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? Answer:
Insuring Clause
◉ The insurance clause of a disability policy usually states what
except? Answer: The method of premium payment
◉ What best describes annually renewable term insurance? Answer:
It is level term insurance
◉ What best describes an annuity period? Answer: Period of time
during which accumulated money is converted into income
payments
◉ What is an eligibility requirement for all Social Security Disability
Income benefits? Answer: Have attained fully insured status
◉ What protects the insured from unintentional policy lapse due to
a nonpayment of premium? Answer: 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? Answer: $300,000
EXAM PAPER 2026 QUESTIONS WITH
SOLUTIONS
◉ 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? Answer: 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? Answer:
At the time of the application.
◉ If an agent makes a mistake on the application and then corrects
it, who must initial that change? Answer: The applicant.
◉ Insurers may change what on a guaranteed renewable health
insurance polity? Answer: The rates by class.
,◉ At what age may an individual make withdrawals from an HSA for
nonhealth purposes without being penalized? Answer: 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? Answer: Recurrent Disability Provision
◉ In forming an insurance contract, when does acceptance occur?
Answer: 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? Answer:
Diagnostic and preventive care
◉ What best describes the "first-dollar coverage" principle in basic
medical insurance? Answer: 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? Answer:
Attending physicians
◉ Can an individual who belongs to a POS plan use an out-of-
network physician? Answer: 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? Answer: The original age is used for premium
determination
◉ What would basic medical expense coverage not cover? Answer:
Surgeon's services
◉ What is not provided by an HMO? Answer: Reimbursement
◉ What insurance arrangements will be appropriate for a parent
buying a life insurance policy on a child where the parent is the
policyowner? Answer: Third-party ownership
◉ What is not true about dividends? Answer: Dividend amounts are
guaranteed in the policy
◉ What is not true about Accidental Death and Dismemberment?
Answer: Death benefits are paid only if death occurs within 24 hours
of an accident
◉ When would a 20-pay whole life policy endow? Answer: 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? Answer:
Insuring Clause
◉ The insurance clause of a disability policy usually states what
except? Answer: The method of premium payment
◉ What best describes annually renewable term insurance? Answer:
It is level term insurance
◉ What best describes an annuity period? Answer: Period of time
during which accumulated money is converted into income
payments
◉ What is an eligibility requirement for all Social Security Disability
Income benefits? Answer: Have attained fully insured status
◉ What protects the insured from unintentional policy lapse due to
a nonpayment of premium? Answer: 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? Answer: $300,000
