Nevada Life and Health Insurance Exam 2025 Test
Bank 2 With 250 Questions and Correct Verified
Answers/ Nevada Life Agent License Test 2025/
Nevada Life & Health Insurance Test 2025 (New!)
Which statement if TRUE regarding a Variable Whole Life Policy?
- A minimum guaranteed Death Benefit is provided
- It is a combination of an Endowment and Increasing Term Policy
- Its premiums and benefits are variable
- It has guaranteed dividends
A minimum guaranteed Death Benefit is provided
T is covered by an Accidental Death and Dismemberment (AD&D) policy that has
irrevocable beneficiary. What action will the insurance company take if T requests
a change of beneficiary?
- Request will be accepted only if in writing by the insured
- Change will be made only if premiums are paid current
- Change will be made immediately
- Request of change will be refused
Request of change will be refused
An agent MUST do which of the following during a sales presentation for a
participating life insurance policy?
- Include a statement that dividends are not guaranteed
- Include a statement that dividends are not guaranteed
- Explain the applicable Nonforfeiture Values
- Explain the surrender cost indexed for 5 and 10 years
Include a statement that dividends are not guaranteed
M completes an application for life insurance but does not pay the initial premium.
All of these actions must occur before M/s policy goes in to effect, EXCEPT:
- Policy is delivered
- Free-look has expired
pg. 1
,- Insurance company issues policy
- Initial premium is collected
Free-look has expired
What type of life policy covers 2 lives and pays the face amount after the first one
dies?
- Group Life
- Joint Life Policy
- Family Income Policy
- Last Survivor Police
Joint Life Policy
According to Nevada's rules on disclosure, a life insurance applicant is expected to
be provided with:
- a Certificate of Coverage and Buyer's Guide
- a Summary Statement and Buyer's Guide
- a Buyer's Guide and Policy Summary
- a Written Comparison and Policy Summary
A Buyer's Guide and Policy Summary
Nevada requires that coverage for newborns begins "from the moment of birth"
and a premium must be paid within:
31 Days
The policyholder has how many days to return an Accident/Health insurance
policy and receive a full refund on premiums?
10 days
Agent J takes an application and initial premium from an applicant and sends the
application and premium check to the insurance company. The insurance company
returns the check back to J because the check is made out to J instead of the
insurance company. What action should J take?
Return to the customer, collect a new check made out to the insurance company,
and send the new check out to the insurance company.
K pays on a $20,000 20-year Endowment policy for 10 years and dies from an
automobile accident. How Much will the insurance company pay the beneficiary ?
pg. 2
,A. Return of premiums paid
B. Cash Value plus interest
C. 20,000 death benefit
D. Face amount plus interest?
C. $20,000 death benefit
The Misstatement of Age Provisions requires that if the age of the insured is
misstated, then any amount payable is:
A. Forfeited
B. An amount that the premiums paid would have purchased at the current age or
ages
C. An amount consists of the premiums paid for the policy if the policy was issued
for over three years
D. Reduced by a specified percentage of the face amount
B. An amount that the premiums paid would have purchased at the current age or
ages
When is the face amount paid under a Joint Life and Survivorship policy?
A. When policy reaches maturation
B. Upon death of the first insured
C. Upon death of the last insured
D. When one of the insureds becomes disables and no longer able to make
premium payments
C. Upon the death of the last insured
Which parts of a life insurance policy are guaranteed to bear true?
Warranty
P, age 50, purchased an annuity that P will fund with $500/month for 25 years. The
annuity will then pay P retirement payments after the 15 years. Which type of of
annuity did P purchase?
Deferred
B has a $100,000 Accidental Death and Dismemberment policy that pays triple
indemnity for common carrier death. If B is killed from an accident on a
commercial flight, what will the policy pay B's beneficiary?
$300,000
pg. 3
, M purchased an Accidental Death and Dismemberment (AD&D) policy and names
his son as beneficiary. M has the right to change the beneficiary designation at
anytime. What type of beneficiary is his son?
Revocable
What is the underlying concept regarding level premiums?
The early years are charged more than what is needed
Which of the following statements if CORRECT about an agent who is taking an
insurance application?
The agent should have the applicant initial any changes made on the application.
Stranger Originated Life Insurance (STOLI) has been found to be in violation of
which of the following contractual elements?
Legal Purpose (Insurable Interest)
A primary beneficiary has died before the insured in a life insurance policy. A
contingent beneficiary is also named in the policy. Which of the following will
occur when the insured dies?
Proceeds will go to the contingent beneficiary.
Health coverage provided under the Affordable Care Act (ACA) shall be made
available for dependents until the child attains the age of:
26
An insured is past due on his life insurance premium, but is still within the Grace
Period. What will the beneficiary receive if the insured dies during this Grace
Period?
Full face amount minus any past due premiums.
The phrase "This policy will only pay for a semi-private room" is an example of
a(n):
Internal Limit
Which of the following types of policies pays a benefit if the insured goes blind?
Accidental Death and Dismemberment (AD&D)
pg. 4
Bank 2 With 250 Questions and Correct Verified
Answers/ Nevada Life Agent License Test 2025/
Nevada Life & Health Insurance Test 2025 (New!)
Which statement if TRUE regarding a Variable Whole Life Policy?
- A minimum guaranteed Death Benefit is provided
- It is a combination of an Endowment and Increasing Term Policy
- Its premiums and benefits are variable
- It has guaranteed dividends
A minimum guaranteed Death Benefit is provided
T is covered by an Accidental Death and Dismemberment (AD&D) policy that has
irrevocable beneficiary. What action will the insurance company take if T requests
a change of beneficiary?
- Request will be accepted only if in writing by the insured
- Change will be made only if premiums are paid current
- Change will be made immediately
- Request of change will be refused
Request of change will be refused
An agent MUST do which of the following during a sales presentation for a
participating life insurance policy?
- Include a statement that dividends are not guaranteed
- Include a statement that dividends are not guaranteed
- Explain the applicable Nonforfeiture Values
- Explain the surrender cost indexed for 5 and 10 years
Include a statement that dividends are not guaranteed
M completes an application for life insurance but does not pay the initial premium.
All of these actions must occur before M/s policy goes in to effect, EXCEPT:
- Policy is delivered
- Free-look has expired
pg. 1
,- Insurance company issues policy
- Initial premium is collected
Free-look has expired
What type of life policy covers 2 lives and pays the face amount after the first one
dies?
- Group Life
- Joint Life Policy
- Family Income Policy
- Last Survivor Police
Joint Life Policy
According to Nevada's rules on disclosure, a life insurance applicant is expected to
be provided with:
- a Certificate of Coverage and Buyer's Guide
- a Summary Statement and Buyer's Guide
- a Buyer's Guide and Policy Summary
- a Written Comparison and Policy Summary
A Buyer's Guide and Policy Summary
Nevada requires that coverage for newborns begins "from the moment of birth"
and a premium must be paid within:
31 Days
The policyholder has how many days to return an Accident/Health insurance
policy and receive a full refund on premiums?
10 days
Agent J takes an application and initial premium from an applicant and sends the
application and premium check to the insurance company. The insurance company
returns the check back to J because the check is made out to J instead of the
insurance company. What action should J take?
Return to the customer, collect a new check made out to the insurance company,
and send the new check out to the insurance company.
K pays on a $20,000 20-year Endowment policy for 10 years and dies from an
automobile accident. How Much will the insurance company pay the beneficiary ?
pg. 2
,A. Return of premiums paid
B. Cash Value plus interest
C. 20,000 death benefit
D. Face amount plus interest?
C. $20,000 death benefit
The Misstatement of Age Provisions requires that if the age of the insured is
misstated, then any amount payable is:
A. Forfeited
B. An amount that the premiums paid would have purchased at the current age or
ages
C. An amount consists of the premiums paid for the policy if the policy was issued
for over three years
D. Reduced by a specified percentage of the face amount
B. An amount that the premiums paid would have purchased at the current age or
ages
When is the face amount paid under a Joint Life and Survivorship policy?
A. When policy reaches maturation
B. Upon death of the first insured
C. Upon death of the last insured
D. When one of the insureds becomes disables and no longer able to make
premium payments
C. Upon the death of the last insured
Which parts of a life insurance policy are guaranteed to bear true?
Warranty
P, age 50, purchased an annuity that P will fund with $500/month for 25 years. The
annuity will then pay P retirement payments after the 15 years. Which type of of
annuity did P purchase?
Deferred
B has a $100,000 Accidental Death and Dismemberment policy that pays triple
indemnity for common carrier death. If B is killed from an accident on a
commercial flight, what will the policy pay B's beneficiary?
$300,000
pg. 3
, M purchased an Accidental Death and Dismemberment (AD&D) policy and names
his son as beneficiary. M has the right to change the beneficiary designation at
anytime. What type of beneficiary is his son?
Revocable
What is the underlying concept regarding level premiums?
The early years are charged more than what is needed
Which of the following statements if CORRECT about an agent who is taking an
insurance application?
The agent should have the applicant initial any changes made on the application.
Stranger Originated Life Insurance (STOLI) has been found to be in violation of
which of the following contractual elements?
Legal Purpose (Insurable Interest)
A primary beneficiary has died before the insured in a life insurance policy. A
contingent beneficiary is also named in the policy. Which of the following will
occur when the insured dies?
Proceeds will go to the contingent beneficiary.
Health coverage provided under the Affordable Care Act (ACA) shall be made
available for dependents until the child attains the age of:
26
An insured is past due on his life insurance premium, but is still within the Grace
Period. What will the beneficiary receive if the insured dies during this Grace
Period?
Full face amount minus any past due premiums.
The phrase "This policy will only pay for a semi-private room" is an example of
a(n):
Internal Limit
Which of the following types of policies pays a benefit if the insured goes blind?
Accidental Death and Dismemberment (AD&D)
pg. 4
