NEVADA LIFE AND HEALTH INSURANCE EXAM
2026 PRACTICE TEST PAPER POLICY TYPES
AND COVERAGE REVIEW SHEET FULL
SOLUTIONS
◉ Which of the following statements if CORRECT about an agent
who is taking an insurance application? Answer: 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? Answer:
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?
Answer: 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: Answer: 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? Answer: 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): Answer: Internal Limit
◉ Which of the following types of policies pays a benefit if the
insured goes blind? Answer: Accidental Death and Dismemberment
(AD&D)
◉ Which of these types of life insurance allows the policy owners to
have level premiums and to also choose from a selection of
investment options? Answer: Variable Life
◉ Taking receipt of premiums and holding them for the insurance
company is an example of: Answer: Fiduciary responsibility
◉ The individual who provides general medical care for a patient as
well as the referral for specialized care is known as a: Answer:
Primary Care Physician
◉ Which of the following annuities pays benefits based on units
rather than specific dollar amounts? Answer: Variable Annuity
,◉ The policyholder has how many days to return an
Accident/Health insurance policy and receive a full refund on
premiums? Answer: 10 days
◉ Which of the following individual health insurance policies will
provide the broadest protection? Answer: Major Medical
◉ Which of the following unfair trade practices involves an agent
who makes malicious statements about another person's financial
condition? Answer: Defamation
◉ Which parts of a life insurance policy are guaranteed to bear true?
Answer: 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? Answer:
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? Answer: $300,000
, ◉ 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? Answer: Revocable
◉ What is the underlying concept regarding level premiums?
Answer: The early years are charged more than what is needed
◉ Which of the following is NOT an example of a producer's breach
of fiduciary duty? Answer: Allowing premiums to be submitted
electronically
◉ How long can pre-existing conditions be excluded for in long-term
care policies? Answer: 6 months
◉ Which mode of payment is NOT used by health insurance policies?
Answer: Single Premium
◉ An insurance company can contest a life insurance contract due to
application fraud within: Answer: 2 years
◉ A person is required to be AT LEAST how old before he or she is
licensed as an agent in Nevada. Answer: 18 years old
2026 PRACTICE TEST PAPER POLICY TYPES
AND COVERAGE REVIEW SHEET FULL
SOLUTIONS
◉ Which of the following statements if CORRECT about an agent
who is taking an insurance application? Answer: 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? Answer:
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?
Answer: 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: Answer: 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? Answer: 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): Answer: Internal Limit
◉ Which of the following types of policies pays a benefit if the
insured goes blind? Answer: Accidental Death and Dismemberment
(AD&D)
◉ Which of these types of life insurance allows the policy owners to
have level premiums and to also choose from a selection of
investment options? Answer: Variable Life
◉ Taking receipt of premiums and holding them for the insurance
company is an example of: Answer: Fiduciary responsibility
◉ The individual who provides general medical care for a patient as
well as the referral for specialized care is known as a: Answer:
Primary Care Physician
◉ Which of the following annuities pays benefits based on units
rather than specific dollar amounts? Answer: Variable Annuity
,◉ The policyholder has how many days to return an
Accident/Health insurance policy and receive a full refund on
premiums? Answer: 10 days
◉ Which of the following individual health insurance policies will
provide the broadest protection? Answer: Major Medical
◉ Which of the following unfair trade practices involves an agent
who makes malicious statements about another person's financial
condition? Answer: Defamation
◉ Which parts of a life insurance policy are guaranteed to bear true?
Answer: 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? Answer:
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? Answer: $300,000
, ◉ 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? Answer: Revocable
◉ What is the underlying concept regarding level premiums?
Answer: The early years are charged more than what is needed
◉ Which of the following is NOT an example of a producer's breach
of fiduciary duty? Answer: Allowing premiums to be submitted
electronically
◉ How long can pre-existing conditions be excluded for in long-term
care policies? Answer: 6 months
◉ Which mode of payment is NOT used by health insurance policies?
Answer: Single Premium
◉ An insurance company can contest a life insurance contract due to
application fraud within: Answer: 2 years
◉ A person is required to be AT LEAST how old before he or she is
licensed as an agent in Nevada. Answer: 18 years old
