Life Insurance Nevada Exam Questions and
Answers
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Terms in this set (69)
Changing a beneficiary is contact owner
a right reserved for the:
A. contract owner
B. insured who is other
than the owner
C. owner's spouse
D. estate
An Immediate annuity can Payout begins one payment period after purchase
be recognized by which
of the following features?
A. Payout begins one
payment period after
purchase.
B. Payout begins several
years later.
C. Only an annual payout
period will apply.
D. The annuitant must be in
good health.
,If an initial premium is not on delivery of the policy to the insured and payment
collected when a life of the initial premium to the producer
insurance application is
written, the insurance
becomes effective:
A. after the medical
examination is completed
B. after it is approved by
the insurer's underwriters
C. on delivery of the
policy to the insured and
payment of the initial
premium to the producer
D. on delivery of the
policy to the insured and
receipt of the initial
premium in the home
office
An insurer accepting an Honor the contract
incomplete application
and issuing a policy is
obligated to:
A. Honor the contract
B. complete the
application within the
Contestable Period
C. return only the
premiums paid, with
interest, on the insured's
death
D. charge a lower
premium for the initial
period of coverage
,Which of the following The premium payment period is shorter than for a
statements is CORRECT Straight Life policy, and more of each premium
about a Limited-Pay payment is credited to the policy's cash value.
Whole Life policy?
A. The policyholder has
the right to adjust the
premium.
B. Premium payments must
be made for a specified
number of years, after
which the policy lapses.
C. The premium payment
period is shorter than for a
Straight Life policy, and
more of each premium
payment is credited to the
policy's cash value.
D. The policy provides
insurance protection for a
shorter period of time
than a Straight Life policy.
The USA PATRIOT Act is detect criminal activity
primarily designed to:
A. detect criminal activity
B. encourage patriotism
among producers
C. require a licensed
producer to swear to
uphold the Constitution
D. authorize insurance
companies to order credit
checks on their producers
, What is TRUE about life They involve a change of owner and beneficiary.
settlements?
A. They are the same as
Accelerated Death
Benefits.
B. Any insured is eligible
to enter into one.
C. They involve a change
of owner and beneficiary.
D. Only terminally ill
insureds can consider one.
Which of the following Fair Credit Reporting Act
items requires that an
insurance application state
that an investigative
consumer report may be
obtained on a prospective
insured?
A. Fair Credit Reporting
Act
B. Entire Contract
provision
C. Individual Standard
Provision law
D. Medical Information
Bureau (MIB) authorization
Answers
Save
Terms in this set (69)
Changing a beneficiary is contact owner
a right reserved for the:
A. contract owner
B. insured who is other
than the owner
C. owner's spouse
D. estate
An Immediate annuity can Payout begins one payment period after purchase
be recognized by which
of the following features?
A. Payout begins one
payment period after
purchase.
B. Payout begins several
years later.
C. Only an annual payout
period will apply.
D. The annuitant must be in
good health.
,If an initial premium is not on delivery of the policy to the insured and payment
collected when a life of the initial premium to the producer
insurance application is
written, the insurance
becomes effective:
A. after the medical
examination is completed
B. after it is approved by
the insurer's underwriters
C. on delivery of the
policy to the insured and
payment of the initial
premium to the producer
D. on delivery of the
policy to the insured and
receipt of the initial
premium in the home
office
An insurer accepting an Honor the contract
incomplete application
and issuing a policy is
obligated to:
A. Honor the contract
B. complete the
application within the
Contestable Period
C. return only the
premiums paid, with
interest, on the insured's
death
D. charge a lower
premium for the initial
period of coverage
,Which of the following The premium payment period is shorter than for a
statements is CORRECT Straight Life policy, and more of each premium
about a Limited-Pay payment is credited to the policy's cash value.
Whole Life policy?
A. The policyholder has
the right to adjust the
premium.
B. Premium payments must
be made for a specified
number of years, after
which the policy lapses.
C. The premium payment
period is shorter than for a
Straight Life policy, and
more of each premium
payment is credited to the
policy's cash value.
D. The policy provides
insurance protection for a
shorter period of time
than a Straight Life policy.
The USA PATRIOT Act is detect criminal activity
primarily designed to:
A. detect criminal activity
B. encourage patriotism
among producers
C. require a licensed
producer to swear to
uphold the Constitution
D. authorize insurance
companies to order credit
checks on their producers
, What is TRUE about life They involve a change of owner and beneficiary.
settlements?
A. They are the same as
Accelerated Death
Benefits.
B. Any insured is eligible
to enter into one.
C. They involve a change
of owner and beneficiary.
D. Only terminally ill
insureds can consider one.
Which of the following Fair Credit Reporting Act
items requires that an
insurance application state
that an investigative
consumer report may be
obtained on a prospective
insured?
A. Fair Credit Reporting
Act
B. Entire Contract
provision
C. Individual Standard
Provision law
D. Medical Information
Bureau (MIB) authorization
