NEVADA LIFE INSURANCE NEWEST EXAM
2025 WITH MULTIPLE CHOICE OF QUESTIONS
AND DETAILED SOLVED SOLUTIONS
ALREADY GRADED A+ AND 100% GUARANTEE
PASS (JUST RELEASED!!!!!)
Which of the following terms is used to describe a person, other
than a viator, that enters into or effectuates a viatical settlement
contract?
A Viatical settlement purchaser
B Viatical settlement broker
C Viatical settlement effectuator
D Viatical settlement provider - CORRECT ANSWER-D
Within how many months must a person be expected to die
from a sickness in order to be classified as terminally ill?
A3
B6
C 12
D 24 - CORRECT ANSWER-D
For how long must agents retain copies of notices and sales
proposals for life insurance applications?
A 1 year
B 5 years
,C 10 years
D 3 years - CORRECT ANSWER-D
What is the purpose of a disclosure statement in life insurance
policies?
A To protect agents and insurers against lawsuits
B To explain features and benefits of a proposed policy to the
consumer
C To obtain important underwriting information from the
applicant
D To help consumers compare policy prices - CORRECT ANSWER-B
Which of the following statements would best describe the
difference between viatical settlements and accelerated death
benefits?
A Viaticals require higher premiums.
B Viaticals use mortality tables; accelerated death benefits are
determined by morbidity.
C Viaticals are funded by a third party; accelerated death
benefits are provided by the insurer that issued the original
policy.
D Viaticals are used to fund retirement; accelerated death
benefits fund medical expenses. - CORRECT ANSWER-C
Which of the following means having an illness or sickness that
can reasonably be expected to result in death in 24 months or
less?
A Chronic illness
, B Fatal illness
C Malignant illness
D Terminal illness - CORRECT ANSWER-D
Which of the following insurers must be nonprofit and sell
insurance only to its members?
A Reciprocal
B Fraternal
C Service
D Mutual - CORRECT ANSWER-B
When a viator sells a life insurance policy,
A Collateral assignment is given to the insurance company.
B Absolute assignment is given to the viatical settlement
company.
C Collateral assignment is given to the viatical settlement
company.
D Absolute assignment is given to the insurance company. -
CORRECT ANSWER-B
Who is a person, other than a viator, that enters into a viatical
settlement contract?
A Provider
B Purchaser
C Effectuator
D Broker - CORRECT ANSWER-A
2025 WITH MULTIPLE CHOICE OF QUESTIONS
AND DETAILED SOLVED SOLUTIONS
ALREADY GRADED A+ AND 100% GUARANTEE
PASS (JUST RELEASED!!!!!)
Which of the following terms is used to describe a person, other
than a viator, that enters into or effectuates a viatical settlement
contract?
A Viatical settlement purchaser
B Viatical settlement broker
C Viatical settlement effectuator
D Viatical settlement provider - CORRECT ANSWER-D
Within how many months must a person be expected to die
from a sickness in order to be classified as terminally ill?
A3
B6
C 12
D 24 - CORRECT ANSWER-D
For how long must agents retain copies of notices and sales
proposals for life insurance applications?
A 1 year
B 5 years
,C 10 years
D 3 years - CORRECT ANSWER-D
What is the purpose of a disclosure statement in life insurance
policies?
A To protect agents and insurers against lawsuits
B To explain features and benefits of a proposed policy to the
consumer
C To obtain important underwriting information from the
applicant
D To help consumers compare policy prices - CORRECT ANSWER-B
Which of the following statements would best describe the
difference between viatical settlements and accelerated death
benefits?
A Viaticals require higher premiums.
B Viaticals use mortality tables; accelerated death benefits are
determined by morbidity.
C Viaticals are funded by a third party; accelerated death
benefits are provided by the insurer that issued the original
policy.
D Viaticals are used to fund retirement; accelerated death
benefits fund medical expenses. - CORRECT ANSWER-C
Which of the following means having an illness or sickness that
can reasonably be expected to result in death in 24 months or
less?
A Chronic illness
, B Fatal illness
C Malignant illness
D Terminal illness - CORRECT ANSWER-D
Which of the following insurers must be nonprofit and sell
insurance only to its members?
A Reciprocal
B Fraternal
C Service
D Mutual - CORRECT ANSWER-B
When a viator sells a life insurance policy,
A Collateral assignment is given to the insurance company.
B Absolute assignment is given to the viatical settlement
company.
C Collateral assignment is given to the viatical settlement
company.
D Absolute assignment is given to the insurance company. -
CORRECT ANSWER-B
Who is a person, other than a viator, that enters into a viatical
settlement contract?
A Provider
B Purchaser
C Effectuator
D Broker - CORRECT ANSWER-A
