NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
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 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
, NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
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
, NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
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
What is the penalty for transacting insurance without a proper license? - (ANSWER)$1,000 for each
violation
What type of misrepresentation persuades an insured to cancel, lapse, or switch policies from one to
another? - (ANSWER)Twisting
The patient protection and affordable care act includes what except? - (ANSWER)Individual tax
deduction for premiums paid
, NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
What entity determines if an advertisement is deceptive of confusing? - (ANSWER)The Commissioner
How many days does a nonresident procedure have to file a change of address when the agent moves to
Nevada from another state? - (ANSWER)30 days
What is not considered a misrepresentation? - (ANSWER)Making comparisons between different
policies
A producer who has allowed their license to lapse may reinstate the license without retaking the
examination within what maximum time period? - (ANSWER)12 months or 1 year
Who is a person, other than a viator, that enters into a viatical settlement? - (ANSWER)Viatical
Settlement Provider
How many days after cancellation of a license in another state does a new resident agent have to apply
for Nevada producer license without having to fulfill licensing examination and education requirements?
- (ANSWER)90 days
What are the three basic types of term life insurance? - (ANSWER)The three basic types of term life
insurance are level, increasing, and decreasing.
When would a whole life insurance policy mature? - (ANSWER)The whole life insurance policy matures
when the insured dies or turns 100.
Who is an annuitant? - (ANSWER)The annuitant is the person on whose life expectancy the annuity is
written and who receives benefits from the annuity.
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
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 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
, NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
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
, NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
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
What is the penalty for transacting insurance without a proper license? - (ANSWER)$1,000 for each
violation
What type of misrepresentation persuades an insured to cancel, lapse, or switch policies from one to
another? - (ANSWER)Twisting
The patient protection and affordable care act includes what except? - (ANSWER)Individual tax
deduction for premiums paid
, NEVADA LIFE AND HEALTH LICENSE EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
What entity determines if an advertisement is deceptive of confusing? - (ANSWER)The Commissioner
How many days does a nonresident procedure have to file a change of address when the agent moves to
Nevada from another state? - (ANSWER)30 days
What is not considered a misrepresentation? - (ANSWER)Making comparisons between different
policies
A producer who has allowed their license to lapse may reinstate the license without retaking the
examination within what maximum time period? - (ANSWER)12 months or 1 year
Who is a person, other than a viator, that enters into a viatical settlement? - (ANSWER)Viatical
Settlement Provider
How many days after cancellation of a license in another state does a new resident agent have to apply
for Nevada producer license without having to fulfill licensing examination and education requirements?
- (ANSWER)90 days
What are the three basic types of term life insurance? - (ANSWER)The three basic types of term life
insurance are level, increasing, and decreasing.
When would a whole life insurance policy mature? - (ANSWER)The whole life insurance policy matures
when the insured dies or turns 100.
Who is an annuitant? - (ANSWER)The annuitant is the person on whose life expectancy the annuity is
written and who receives benefits from the annuity.
