Nevada Life Insurance Exam Questions and Answers 100% Correct(RATED A+)

During replacement of life insurance, a replacing insurer must do which of the following? A Send a copy of the Notice Regarding Replacement to the Department of Insurance B Obtain a list of all life insurance policies that will be replaced C Guarantee a replacement for each existing policy D Designate a new producer for a replaced policy - ANSWER-B Which of the following documents must be provided to the policyowner or applicant during policy replacement? A Buyer's Guide and Policy Summary B Policy illustrations C Notice Regarding Replacement D Disclosure Authorization Form - ANSWER-C Which of the following terms is used to describe a person, other than a viator, that enters into or effectuates a viatical settlement contract? A Viatical settlement purchaser B Viatical settlement broker C Viatical settlement effectuator D Viatical settlement provider - ANSWER-D Within how many months must a person be expected to die from a sickness in order to be classified as terminally ill? A 3 B 6 C 12 D 24 - ANSWER-D For how long must agents retain copies of notices and sales proposals for life insurance applications? A 1 y