Nevada Life, Accident, Health Insurance
Exam Practice 2024/25 RATED A+
Health care accounts and Dependent care accounts - What are the 2 types of Flexible
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Spending Accounts?
ii ii
Cash value is guaranteed - Concerning a Whole Life Policy, which of the following
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
statements is correct?
ii ii ii
Unearned premiums are retained by the insurance company - According to the rights of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
renewability rider for cancellable policies, all of the following are correct about the
ii ii ii ii ii ii ii ii ii ii ii ii ii
cancellation of an individual insurance policy EXCEPT
ii ii ii ii ii ii ii
ii Assets - In a replacement situation, all of the following must be considered EXCEPT
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Be licensed as a life insurance producer - For an agent to sell continuous care coverage,
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
the agent must meet all of the following requirements EXCEPT
ii ii ii ii ii ii ii ii ii ii
Insurance consultant - Which of the following licensees are not compensated directly
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
related to the amount of insurance sold?
ii ii ii ii ii ii ii
3 Hours - Producers must complete how many hours of continuing education on the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
subject of ethics every licensing period?
ii ii ii ii ii ii
The more liberal "own occupation" - Which of the following definitions would make it
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
easier to qualify for total disability benefits?
ii ii ii ii ii ii ii
ii Plan A - Which of the following must be present in all Medicare supplement plans?
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Premium receipt - Most agents try to collect the initial premium for submission with the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
application. When an agent collects the initial premium from the applicant, the agent
ii ii ii ii ii ii ii ii ii ii ii ii ii
should issue the applicant a
ii ii ii ii ii
Renewal provision - Which health insurance provision describes the insured's right to
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
cancel coverage?
ii ii
ii Increasing Term - What type of insurance would be used for a Return of Premium rider?ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Recurrent disability - When an insurer combines two periods of disability into one, the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
insured must have suffered a
ii ii ii ii ii
It is designed to pay on a first dollar of expense basis - Which of the following is NOT true
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
of a major-medical health insurance policy?
ii ii ii ii ii ii
, They earn lower interest rates than fixed annuities - Which of the following is NOT true
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
regarding Equity Indexed Annuities?
ii ii ii ii
Individual members of the group may select the level of benefits for their own coverage -
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Underwriting a group health insurance plan that is paid for by the employer requires all of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
the following EXCEPT
ii ii ii
High-deductible health plan - To be eligible for a Health Savings Account, an individual
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
must be covered by a
ii ii ii ii ii
ii Face amount - Which policy component decreases in decreasing term insurance?
ii ii ii ii ii ii ii ii ii ii ii ii
Acute care in a hospital - Which of the following is NOT covered under a long-term care
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
policy?
ii
Term rider - Which of the following, when attached to a permanent life insurance policy,
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
allows the policyowner to customize the policy to provide an additional amount of
ii ii ii ii ii ii ii ii ii ii ii ii ii
temporary insurance on the insured, or allows amounts of temporary insurance to cover
ii ii ii ii ii ii ii ii ii ii ii ii ii
other family members?
ii ii ii
Deferred - An individual has been making periodic premium payments on an annuity. The
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
annuity income payments are schedules to begin after 1 year since the annuity was
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
purchased what type of annuity is it?
ii ii ii ii ii ii ii
Daily care by medical personnel - What amount of care is provided in LTC's intermediate
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
care?
ii
$500,000 - What is the maximum amount that the Nevada Life & Health Insurance
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Guaranty Association may be obligated to pay with respect to major medical insurance for
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
one life?
ii ii
1 year - A life producer applying for a viatical settlement broker license may be exempt
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
from the prelicensing education and examination requirement if the producer has held an
ii ii ii ii ii ii ii ii ii ii ii ii ii
active life license for at least how many years?
ii ii ii ii ii ii ii ii ii
The surviving beneficiary will continue receiving 2/3 of the benefit paid when both
ii ii ii ii ii ii ii ii ii ii ii ii ii
beneficiaries were alive - An insured has chosen joint and 2/3 survivor as the settlement
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
option. What does this mean to the beneficiaries?
ii ii ii ii ii ii ii ii
ii Increasing term - What type of insurance would be used for a Return of Premium rider? ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Survivor protection - A producer is helping a married couple determine the financial needs
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
of their children in the event one or both should die prematurely
ii ii ii ii ii ii ii ii ii ii ii ii
The benefit received is tax free - A corporation is the owner of the beneficiary of the key
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
persion life policy. If the corporation collect the policy benefit, then
ii ii ii ii ii ii ii ii ii ii ii
Exam Practice 2024/25 RATED A+
Health care accounts and Dependent care accounts - What are the 2 types of Flexible
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Spending Accounts?
ii ii
Cash value is guaranteed - Concerning a Whole Life Policy, which of the following
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
statements is correct?
ii ii ii
Unearned premiums are retained by the insurance company - According to the rights of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
renewability rider for cancellable policies, all of the following are correct about the
ii ii ii ii ii ii ii ii ii ii ii ii ii
cancellation of an individual insurance policy EXCEPT
ii ii ii ii ii ii ii
ii Assets - In a replacement situation, all of the following must be considered EXCEPT
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Be licensed as a life insurance producer - For an agent to sell continuous care coverage,
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
the agent must meet all of the following requirements EXCEPT
ii ii ii ii ii ii ii ii ii ii
Insurance consultant - Which of the following licensees are not compensated directly
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
related to the amount of insurance sold?
ii ii ii ii ii ii ii
3 Hours - Producers must complete how many hours of continuing education on the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
subject of ethics every licensing period?
ii ii ii ii ii ii
The more liberal "own occupation" - Which of the following definitions would make it
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
easier to qualify for total disability benefits?
ii ii ii ii ii ii ii
ii Plan A - Which of the following must be present in all Medicare supplement plans?
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Premium receipt - Most agents try to collect the initial premium for submission with the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
application. When an agent collects the initial premium from the applicant, the agent
ii ii ii ii ii ii ii ii ii ii ii ii ii
should issue the applicant a
ii ii ii ii ii
Renewal provision - Which health insurance provision describes the insured's right to
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
cancel coverage?
ii ii
ii Increasing Term - What type of insurance would be used for a Return of Premium rider?ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Recurrent disability - When an insurer combines two periods of disability into one, the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
insured must have suffered a
ii ii ii ii ii
It is designed to pay on a first dollar of expense basis - Which of the following is NOT true
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
of a major-medical health insurance policy?
ii ii ii ii ii ii
, They earn lower interest rates than fixed annuities - Which of the following is NOT true
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
regarding Equity Indexed Annuities?
ii ii ii ii
Individual members of the group may select the level of benefits for their own coverage -
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Underwriting a group health insurance plan that is paid for by the employer requires all of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
the following EXCEPT
ii ii ii
High-deductible health plan - To be eligible for a Health Savings Account, an individual
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
must be covered by a
ii ii ii ii ii
ii Face amount - Which policy component decreases in decreasing term insurance?
ii ii ii ii ii ii ii ii ii ii ii ii
Acute care in a hospital - Which of the following is NOT covered under a long-term care
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
policy?
ii
Term rider - Which of the following, when attached to a permanent life insurance policy,
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
allows the policyowner to customize the policy to provide an additional amount of
ii ii ii ii ii ii ii ii ii ii ii ii ii
temporary insurance on the insured, or allows amounts of temporary insurance to cover
ii ii ii ii ii ii ii ii ii ii ii ii ii
other family members?
ii ii ii
Deferred - An individual has been making periodic premium payments on an annuity. The
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
annuity income payments are schedules to begin after 1 year since the annuity was
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
purchased what type of annuity is it?
ii ii ii ii ii ii ii
Daily care by medical personnel - What amount of care is provided in LTC's intermediate
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
care?
ii
$500,000 - What is the maximum amount that the Nevada Life & Health Insurance
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Guaranty Association may be obligated to pay with respect to major medical insurance for
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
one life?
ii ii
1 year - A life producer applying for a viatical settlement broker license may be exempt
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
from the prelicensing education and examination requirement if the producer has held an
ii ii ii ii ii ii ii ii ii ii ii ii ii
active life license for at least how many years?
ii ii ii ii ii ii ii ii ii
The surviving beneficiary will continue receiving 2/3 of the benefit paid when both
ii ii ii ii ii ii ii ii ii ii ii ii ii
beneficiaries were alive - An insured has chosen joint and 2/3 survivor as the settlement
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
option. What does this mean to the beneficiaries?
ii ii ii ii ii ii ii ii
ii Increasing term - What type of insurance would be used for a Return of Premium rider? ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Survivor protection - A producer is helping a married couple determine the financial needs
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
of their children in the event one or both should die prematurely
ii ii ii ii ii ii ii ii ii ii ii ii
The benefit received is tax free - A corporation is the owner of the beneficiary of the key
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
persion life policy. If the corporation collect the policy benefit, then
ii ii ii ii ii ii ii ii ii ii ii
