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Nevada Life and Health Insurance Exam Review (Latest Update 2025 / 2026) Questions & Verified Answers | Grade A | 100% Correct
Question:
Which of the following is the requirement for an individual to perform the duties of an insurance producer?(A) Reside in that state for 1 year (B) Be duly licensed (C) Keep an annual sales quota (D) Be bonded and insured
Answer:
Be duly licensed
Question:
A producer must complete ____ hours of ethics per continuing education reporting period
Answer:
3 1 / 4
Question:
Which of the following provisions guarantees that premiums will be waived if a Juvenile Life policyowner becomes disabled?(A) Automatic Premium Loan provision (B) Assignment provision (C) Payor clause (D) Family Maintenance clause
Answer:
Payor clause
Question:
A policyowner is able to choose the frequency of premium payments through what policy feature?(A) Consideration (B) Premium mode (C) Payor benefit (D) Assignment provision
Answer:
Premium Mode (Timing of premium payment, ie. monthly, quarterly, annually, etc.)
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Question:
All of these are considered sources of underwriting information about an applicant EXCEPT (A) Credit report (B) Rating services (C) Inspection Report (D) Medical Information Bureau
Answer:
Rating Services
Question:
Life insurance replacement regulation protects the interests of (A) the producer (B) the NAIC (C) the policyowner (D) the insurer
Answer:
the policyowner
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Question:
A hearing must be held before a producer's license can be suspended or revoked. prior to this hearing, the commissioner is required to give (A) oral notice to the producer's insurance company (B) oral notice to the producer (C) written notice to the producer (D) written notice to the NAIC
Answer:
Written notice to the producer
Question:
Life insurance that covers an insured's whole life with level premiums paid over a limited time is called (A) Joint life (B) Limited Pay Life (C) Renewable Term (D) Adjustable Life
Answer:
Limited Pay Life
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