1|Page
NEVADA LIFE AND HEALTH LICENSE EXAM 2025/
2026 ACTUAL EXAM 2 VERSIONS COMPLETE EXAM
QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED
A+||LATEST EXAM!!!
P wants to name her husband as the beneficiary of her life
policy. However, she wishes to retain all of the rights of
ownership. P should have her husband named as the:
A.irrevocable beneficiary
B.revocable beneficiary
C.secondary beneficiary - Answer-B
A contract that has as its basic function the systematic
liquidation of accumulated assets through periodic
payments is called an:
A.indemnity contract
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B.investment contract
C.endowment
D.annuity - Answer-D
An insurance producer takes an application for a life
insurance policy but does not collect the initial premium.
On delivery of the policy to the proposed insured, the
producer must collect the initial premium and which of the
following?
A.A copy of the MIB report
B.The insured's signed statement of continued good
health
C.A copy of the conditional receipt
D.A copy of the temporary insurance agreement that
covered the period between the application date and the
delivery date. - Answer-B
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An employer can deduct premium payments as an
ordinary business expense for which of the following life
coverages?
A.Buy and Sell Agreements
B.Group
C.Key Employee
D.Joint Life, if the business is named as the beneficiary -
Answer-B
A producer takes applications from identical twins who
want to buy the same type of policy in the same amount.
The insurer issues the policies as applied for, but charges
a 25 percent higher premium for one of the policies. The
difference in premiums is probably due to which of the
following factors?
A.Incontestability
B.Insurable interest
C.Consideration
D.Risk classification - Answer-D
NEVADA LIFE AND HEALTH LICENSE EXAM 2025/
2026 ACTUAL EXAM 2 VERSIONS COMPLETE EXAM
QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED
A+||LATEST EXAM!!!
P wants to name her husband as the beneficiary of her life
policy. However, she wishes to retain all of the rights of
ownership. P should have her husband named as the:
A.irrevocable beneficiary
B.revocable beneficiary
C.secondary beneficiary - Answer-B
A contract that has as its basic function the systematic
liquidation of accumulated assets through periodic
payments is called an:
A.indemnity contract
,2|Page
B.investment contract
C.endowment
D.annuity - Answer-D
An insurance producer takes an application for a life
insurance policy but does not collect the initial premium.
On delivery of the policy to the proposed insured, the
producer must collect the initial premium and which of the
following?
A.A copy of the MIB report
B.The insured's signed statement of continued good
health
C.A copy of the conditional receipt
D.A copy of the temporary insurance agreement that
covered the period between the application date and the
delivery date. - Answer-B
, 3|Page
An employer can deduct premium payments as an
ordinary business expense for which of the following life
coverages?
A.Buy and Sell Agreements
B.Group
C.Key Employee
D.Joint Life, if the business is named as the beneficiary -
Answer-B
A producer takes applications from identical twins who
want to buy the same type of policy in the same amount.
The insurer issues the policies as applied for, but charges
a 25 percent higher premium for one of the policies. The
difference in premiums is probably due to which of the
following factors?
A.Incontestability
B.Insurable interest
C.Consideration
D.Risk classification - Answer-D
