Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Nevada Life and Health License Exam Prep
Questions and Correct Answers | Latest
Update
What are the four required elements of an insurance contract?
Agreement, consideration, competent parties, and legal purpose.
What two parts make up a life insurance application?
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?
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?
At the time of the application.
If an agent makes a mistake on the application and then corrects it, who must initial that
change?
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
The applicant.
Insurers may change what on a guaranteed renewable health insurance polity?
The rates by class.
At what age may an individual make withdrawals from an HSA for nonhealth purposes
without being penalized?
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?
Recurrent Disability Provision
In forming an insurance contract, when does acceptance occur?
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?
Diagnostic and preventive care
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
What best describes the "first-dollar coverage" principle in basic medical insurance?
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?
Attending physicians
Can an individual who belongs to a POS plan use an out-of-network physician?
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?
The original age is used for premium determination
What would basic medical expense coverage not cover?
Surgeon's services
What is not provided by an HMO?
Reimbursement
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
What insurance arrangements will be appropriate for a parent buying a life insurance policy
on a child where the parent is the policyowner?
Third-party ownership
What is not true about dividends?
Dividend amounts are guaranteed in the policy
What is not true about Accidental Death and Dismemberment?
Death benefits are paid only if death occurs within 24 hours of an
accident
When would a 20-pay whole life policy endow?
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?
Insuring Clause
The insurance clause of a disability policy usually states what except?
The method of premium payment
~ 1 ~ for inquiry mail me @
Nevada Life and Health License Exam Prep
Questions and Correct Answers | Latest
Update
What are the four required elements of an insurance contract?
Agreement, consideration, competent parties, and legal purpose.
What two parts make up a life insurance application?
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?
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?
At the time of the application.
If an agent makes a mistake on the application and then corrects it, who must initial that
change?
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
The applicant.
Insurers may change what on a guaranteed renewable health insurance polity?
The rates by class.
At what age may an individual make withdrawals from an HSA for nonhealth purposes
without being penalized?
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?
Recurrent Disability Provision
In forming an insurance contract, when does acceptance occur?
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?
Diagnostic and preventive care
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
What best describes the "first-dollar coverage" principle in basic medical insurance?
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?
Attending physicians
Can an individual who belongs to a POS plan use an out-of-network physician?
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?
The original age is used for premium determination
What would basic medical expense coverage not cover?
Surgeon's services
What is not provided by an HMO?
Reimbursement
~ 1 ~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
What insurance arrangements will be appropriate for a parent buying a life insurance policy
on a child where the parent is the policyowner?
Third-party ownership
What is not true about dividends?
Dividend amounts are guaranteed in the policy
What is not true about Accidental Death and Dismemberment?
Death benefits are paid only if death occurs within 24 hours of an
accident
When would a 20-pay whole life policy endow?
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?
Insuring Clause
The insurance clause of a disability policy usually states what except?
The method of premium payment
~ 1 ~ for inquiry mail me @
