NEVADA LIFE AND HEALTH EXAM NEWEST 2025 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+.

NEVADA LIFE AND HEALTH EXAM NEWEST 2025 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+. In forming an insurance contract, when does acceptance usually occurs? - answer -when insurer approves a prepaid application Benefits periods for individually short-term disability policies will usually continue from... - answer -six months to two years When an employee covered under a health reimbursement account changes employer, the hra ? - answer -stays with the employer Most policies will pay the accident death benefits as long is caused by the accident that occurs within - answer -90 days Which report will provide the underwriter with the information about a consumer's credit? - answer -consumers report What's the initial period of time specified in a disability income policy that must pass after the policy is in force before a loss can be covered? - answer -probationary period Todd has been informed that he has an hernia which requires repair. He researches the cost and learns his insurance will cover 200 points worth of surgical expenses. Each point represents $10, which it means $2,000 of his surgery be covered by his plan. What system is todd insurance company is using? (answers)relative value A participating insurance policy may.... - answer -pay dividends to policyowners An agent makes a mistake on the application and then corrects his mistake by physically entering the necessary information, who must then initial the change? (answers)the applicant Hippaa or health insurance portability and accountability act, applies to groups of - answer -2 or more Which statement is correct concerning the cobra act of 1985 - answer -it covers terminated employee's and dependents for up to 36 months after a qualifying event A man decides to purchase a $100,000 annually renewable term insurance life policy to provide additional protection until his children finished college, he discovered that this policy - answer -required a premium increase at each renewal When a life insurance policy is cancelled and the insured selected the extended term nonforfeiture option, the cash value will be used to purchase term insurance that has the face amount of ? - answer -equal to the original policy, for as long of a period of time that the cash value will purchase Ron joins the ppo that is provided by his employer. If ron decides to go to a physician who is not a ppo provider, what would happens ? - answer -the ppo will pay reduced benefits If a life insurance develops cash value faster than a seven-paywhole life contract, it's a - answer -modified endowment contract An adjustable life policyowner can.... - answer -change the coverage period What's the purpose of the buyer's guide? - answer -to allow the consumer to compare the costs of different policies What's the purpose of a disclosure statement in life insurance policies? - answer -help consumers make more informed decisions A married couple owns a permanent policy which covers both of their lives and pays the face amount of the policy upon the death of the first. Which policy is that? - answer -joint life policy The provisions which prevent the insured, from bringing any legal action against the company for the last 60 days after proof of loss, is known as - answer -legal actions Regarding the concept of creditable coverage, the number of days of coverage spent under the group plan, will be used to reduce the 12-month waiting period for pre-existing conditions coverage, if the employee does not have a break in coverage of more than.... - answer -63 days Which of the following provisions would prevent an insurance company from paying a reimbursement claim to someone other than the policyowner? - answer -payment of claims What is "not" correct about the required provisions of a health insurance policy? - answer -that a reinstated policy provides immediate coverage for an illness The limits of a health reimbursement account are set by.... - answer -the employer When a replacement is involved, a replacing insurance company is "not" responsible for.... - answer -providing a copy of the important notice regarding replacement of life insurance to the applicant An individual has just been diagnosed with a quickly-spreading fatal form of cancer, his oncologist predicts that he will live for 5 months. He applies for individual life insurance. What risk classification will he most likely receive? - answer -declined A statements concerning Medicare part b says. - answer -it pays for physician services, diagnostic test and physical therapy Is a false statement that in a modified endowment contract (mec).... - answer -the policyowner can receive contributions at any time without been penalized Which rider would not increase the premium for a policyowner? - answer -impairment rider What entity has the authority to make changes to an insurance policy? - answer -insurer's executive officer Is incorrect regarding whole life insurance ... - answer -that the policy loans are tax-deductible Which rider available in disability income insurance, will provide benefits above the base policy amount? - answer -multiple indemnity rider Julie pays for her life insurance annually. Until now she has collected an non- taxable dividend check each year. Julie has decided that she would rather use the dividends to help pay for her next premium, what option would allow her to do this? - answer -reduction of premium option An agent tries to sell insurance to an applicant who appears to be confused but is eventually able to give enough info for the application to be completed. After the policy was issued the agent talked to the insured's family and they explained that the insured was recovering from a surgery and might have been under the influence of meds at the time of application. What happen then? - answer -the policy may be voided if it can be proven that the applicant was not capable of making a buying decision at the time of the application Donald purchases a life insurance from company. The agent told him that depending upon the company's investments and expense factor the cash value could be more or less than those show in the policy at issue time. Donald policy is. - answer -interest-sensitive whole life How long does an insurer have to contest fraudulent misstatements made in a health insurance application? - answer -as long as the policy is in force What is "not" a feature of a non-cancelable policy? - answer -that the insurer may terminate the contract only at renewal for certain conditions What best defines target premium in a universal policy? - answer -the recommended amount to keep the policy en force throughout its lifetime A license agent in Utah want to become a nonresident agent in Nevada in the same line of insurance, considering that all requirements are met, what is more likely to happen? - answer -the division will waive education and examination requirements After a person's employment is terminated, it's possible to obtain individual health insurance, after losing the group health coverage provided by the Employer, which of the following is "not" true? - answer -a) the employee can convert from group to individual withing 31 days of termination The premium of the individual health policy can be higher than the original policy c)by law, the new individual policy must provide the same benefits as the group insurance policy, that is not true. What type of individual may act as a producer without a license? - answer -an insurer company president who is solely responsible for the administration of the company On its advertisement, a company claims that it has funds in its possession that are, in fact, no available for the payment of losses of claims. The company is guilty of... - answer -misrepresentation For the purpose of determining its financial condition, fulfillment of its contractual obligations and compliance with Nevada law, the commissioner will examine affairs of each insurer as often as deemed necessary. Each domestic insurer must be examined at least - answer -every 5 years What provides specific information about the products that an insurer is offering and must be left with a prospective insured at the time of the application? - answer -policy summary What type of insurance company is an incorporated insurer without capital stock or shares? - answer -mutual insurer