NEVADA LIFE AND HEALTH LICENSE EXAM AND PRACTICE
EXAM LATEST 2025 WITH ACTUAL QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
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? - CORRECT
ANSWER-Recurrent Disability Provision
In forming an insurance contract, when does acceptance occur? - CORRECT
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? - CORRECT ANSWER-Diagnostic and
preventive care
What best describes the "first-dollar coverage" principle in basic medical
insurance? - CORRECT 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? - CORRECT ANSWER-Attending physicians
,Can an individual who belongs to a POS plan use an out-of-network physician? -
CORRECT 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? -
CORRECT ANSWER-The original age is used for premium determination
What would basic medical expense coverage not cover? - CORRECT ANSWER-
Surgeon's services
What is not provided by an HMO? - CORRECT ANSWER-Reimbursement
What insurance arrangements will be appropriate for a parent buying a life
insurance policy on a child where the parent is the policyowner? - CORRECT
ANSWER-Third-party ownership
What is not true about dividends? - CORRECT ANSWER-Dividend amounts are
guaranteed in the policy
What are the four required elements of an insurance contract? - CORRECT
ANSWER-Agreement, consideration, competent parties, and legal purpose.
What two parts make up a life insurance application? - CORRECT 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? - CORRECT 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? - CORRECT ANSWER-At the time of
the application.
If an agent makes a mistake on the application and then corrects it, who must
initial that change? - CORRECT ANSWER-The applicant.
Insurers may change what on a guaranteed renewable health insurance polity? -
CORRECT ANSWER-The rates by class.
At what age may an individual make withdrawals from an HSA for nonhealth
purposes without being penalized? - CORRECT ANSWER-At age 65.
What is not true about Accidental Death and Dismemberment? - CORRECT
ANSWER-Death benefits are paid only if death occurs within 24 hours of an
accident
When would a 20-pay whole life policy endow? - CORRECT 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? - CORRECT ANSWER-Insuring Clause
, The insurance clause of a disability policy usually states what except? - CORRECT
ANSWER-The method of premium payment
What best describes annually renewable term insurance? - CORRECT ANSWER-
It is level term insurance
What best describes an annuity period? - CORRECT ANSWER-Period of time
during which accumulated money is converted into income payments
What is an eligibility requirement for all Social Security Disability Income benefits?
- CORRECT ANSWER-Have attained fully insured status
What protects the insured from unintentional policy lapse due to a nonpayment
of premium? - CORRECT ANSWER-Automatic premium loan
What is the maximum amount that the Nevada Life & Health Insurance Guaranty
Association be obligated to pay with respect to life insurance death benefits for
one life? - CORRECT ANSWER-$300,000
What is the penalty for transacting insurance without a proper license? -
CORRECT ANSWER-$1,000 for each violation
EXAM LATEST 2025 WITH ACTUAL QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
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? - CORRECT
ANSWER-Recurrent Disability Provision
In forming an insurance contract, when does acceptance occur? - CORRECT
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? - CORRECT ANSWER-Diagnostic and
preventive care
What best describes the "first-dollar coverage" principle in basic medical
insurance? - CORRECT 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? - CORRECT ANSWER-Attending physicians
,Can an individual who belongs to a POS plan use an out-of-network physician? -
CORRECT 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? -
CORRECT ANSWER-The original age is used for premium determination
What would basic medical expense coverage not cover? - CORRECT ANSWER-
Surgeon's services
What is not provided by an HMO? - CORRECT ANSWER-Reimbursement
What insurance arrangements will be appropriate for a parent buying a life
insurance policy on a child where the parent is the policyowner? - CORRECT
ANSWER-Third-party ownership
What is not true about dividends? - CORRECT ANSWER-Dividend amounts are
guaranteed in the policy
What are the four required elements of an insurance contract? - CORRECT
ANSWER-Agreement, consideration, competent parties, and legal purpose.
What two parts make up a life insurance application? - CORRECT 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? - CORRECT 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? - CORRECT ANSWER-At the time of
the application.
If an agent makes a mistake on the application and then corrects it, who must
initial that change? - CORRECT ANSWER-The applicant.
Insurers may change what on a guaranteed renewable health insurance polity? -
CORRECT ANSWER-The rates by class.
At what age may an individual make withdrawals from an HSA for nonhealth
purposes without being penalized? - CORRECT ANSWER-At age 65.
What is not true about Accidental Death and Dismemberment? - CORRECT
ANSWER-Death benefits are paid only if death occurs within 24 hours of an
accident
When would a 20-pay whole life policy endow? - CORRECT 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? - CORRECT ANSWER-Insuring Clause
, The insurance clause of a disability policy usually states what except? - CORRECT
ANSWER-The method of premium payment
What best describes annually renewable term insurance? - CORRECT ANSWER-
It is level term insurance
What best describes an annuity period? - CORRECT ANSWER-Period of time
during which accumulated money is converted into income payments
What is an eligibility requirement for all Social Security Disability Income benefits?
- CORRECT ANSWER-Have attained fully insured status
What protects the insured from unintentional policy lapse due to a nonpayment
of premium? - CORRECT ANSWER-Automatic premium loan
What is the maximum amount that the Nevada Life & Health Insurance Guaranty
Association be obligated to pay with respect to life insurance death benefits for
one life? - CORRECT ANSWER-$300,000
What is the penalty for transacting insurance without a proper license? -
CORRECT ANSWER-$1,000 for each violation
