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NEVADA LIFE AND HEALTH LICENSE EXAM 2025
ACTUAL EXAM 2 VERSIONS COMPLETE EXAM
QUESTIONS WITH DETAILED VERIFIED ANSWERS
WITH RATIONALES (100% CORRECT ANSWERS)
/ALREADY GRADED A+/ LATEST EXAM!!!
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.
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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
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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
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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
NEVADA LIFE AND HEALTH LICENSE EXAM 2025
ACTUAL EXAM 2 VERSIONS COMPLETE EXAM
QUESTIONS WITH DETAILED VERIFIED ANSWERS
WITH RATIONALES (100% CORRECT ANSWERS)
/ALREADY GRADED A+/ LATEST EXAM!!!
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.
,2|Page
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
,3|Page
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
, 4|Page
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
