Nevada Life and Health Insurance
Exam (Latest Update )
Questions and Answers | Grade A |
100% Correct (Verified Solution)
Question:
The __________ is authorized to assign a Life Insurance policy as collateral for
a loan.
Answer:
A. insured
B. policyowner
C. beneficiary
D. lender
,Question:
S buys a $50,000 whole life policy with a $50,000 Accidental Death and
Dismemberment rider. S dies 1 year later of natural causes. How much will the
insurer pay the beneficiary?
Answer:
A.$100,000
B. Refund of premiums paid plus interest
C. No claim will be paid because cause of death was from natural causes
D. $50,000
Question:
The advantage of reinstating an original life policy is
Answer:
A. a new incontestable period will begin
B. the premiums are based on a younger age
C. the interest charged on policy loans will be lowered
D. the premiums are based on the current age of the insured
,Question:
A potential client, age 40, would like to purchase a Whole Life policy that will
accumulate cash value at a faster rate in the early years of the policy. Which of
these statements made by the producer would be correct?
Answer:
A. Cash value accumulation of both 20-Pay Life and Straight Life depend on
the insurer's financial rating
B. Straight life accumulates faster than Limited-pay Life
C. 20-Pay Life and Straight Life accumulate cash value at the same rate
D. 20-Pay Life accumulates cash value faster than Straight Life
Question:
When an insurer issues a policy that refuses to cover certain risks, this is
referred to as a(n):
Answer:
A. exception
B. elimination
C. exclusion
D. limitation
, Question:
Which of the following is an example of a nonforfeiture option?
Answer:
A. Guaranteed insurability option
B. Reduced Paid-Up option
C. Inflation option
D. Conversion option
Question:
A life insurance policy which ensures that the premium will be paid if the
insured becomes disabled has what kind of rider attached?
Answer:
A. Accelerated Benefits
B. Waiver of Premium
C. Cost of Living
D. Return of Premium
Exam (Latest Update )
Questions and Answers | Grade A |
100% Correct (Verified Solution)
Question:
The __________ is authorized to assign a Life Insurance policy as collateral for
a loan.
Answer:
A. insured
B. policyowner
C. beneficiary
D. lender
,Question:
S buys a $50,000 whole life policy with a $50,000 Accidental Death and
Dismemberment rider. S dies 1 year later of natural causes. How much will the
insurer pay the beneficiary?
Answer:
A.$100,000
B. Refund of premiums paid plus interest
C. No claim will be paid because cause of death was from natural causes
D. $50,000
Question:
The advantage of reinstating an original life policy is
Answer:
A. a new incontestable period will begin
B. the premiums are based on a younger age
C. the interest charged on policy loans will be lowered
D. the premiums are based on the current age of the insured
,Question:
A potential client, age 40, would like to purchase a Whole Life policy that will
accumulate cash value at a faster rate in the early years of the policy. Which of
these statements made by the producer would be correct?
Answer:
A. Cash value accumulation of both 20-Pay Life and Straight Life depend on
the insurer's financial rating
B. Straight life accumulates faster than Limited-pay Life
C. 20-Pay Life and Straight Life accumulate cash value at the same rate
D. 20-Pay Life accumulates cash value faster than Straight Life
Question:
When an insurer issues a policy that refuses to cover certain risks, this is
referred to as a(n):
Answer:
A. exception
B. elimination
C. exclusion
D. limitation
, Question:
Which of the following is an example of a nonforfeiture option?
Answer:
A. Guaranteed insurability option
B. Reduced Paid-Up option
C. Inflation option
D. Conversion option
Question:
A life insurance policy which ensures that the premium will be paid if the
insured becomes disabled has what kind of rider attached?
Answer:
A. Accelerated Benefits
B. Waiver of Premium
C. Cost of Living
D. Return of Premium
