State of Nevada Life and Health Insurance Exam Test

pg. 1 State of Nevada Life and Health Insurance Exam Test Bank 1 With 500 Actual Questions And Correct Verified Answers/ Nevada Life Agent License Test Nevada Life & Health Insurance Test (New!)

The Nevada Life and Health Insurance Quality Association becomes involved in

an insurance company's affairs when the company:

Enters a lawsuit against a claimant Withdraws as an associate member Becomes insolvent Denies a claim Becomes insolvent A licensee who plans to do business in this state under a fictitious name must file a certified copy of the name with which of the following entities?

The municipal clerk The attorney general The insurance commissioner The district attorney The municipal clerk Nevada Insurance laws define a domestic Insurance company as one formed under

the laws of:

Any jurisdiction of the United States of America Any territory of the united states of America The state of Nevada as well as any of its neighboring states The state of Nevada only The state of Nevada only A life producer applying for a viatical settlement broker license may be exempt from the prelicensing education and examination requirement if the producer has held an active life license for at least how many years? 1 / 4

pg. 2 A1 year B2 years C5 years D10 years A When a viator sells a life insurance policy, AAbsolute assignment is given to the insurance company.BCollateral assignment is given to the insurance company.CAbsolute assignment is given to the viatical settlement company.DCollateral assignment is given to the viatical settlement company.C What is the name for the owner of a life insurance policy who enters into a viatical settlement contract?AViatical settlement purchaser BViator CPolicyowner DViatical settlement provider B A producer aggrieved by any regulation or order of the insurance commissioner

may request:

An administrative hearing Injunctive relief through the secretary of state Legislative review of the case Peer review of the case An administrative hearing An applicant for a producer's license in Nevada MUST meet which of the following requirements?

The applicant must have at least two years of experience in the insurance industry.The applicant must be at least twenty-one years of age The applicant must be at least eighteen years of age The applicant must have been a resident of Nevada for ninety days or more 2 / 4

pg. 3 The applicant must be at least eighteen years of age A producer who knowingly makes a false or fraudulent statement on an insurance application may be subject to which of the following?

A minimum fine of $1000 A felony conviction Imprisonment for a minimum term of 6 months A reduction in commission A minimum fine of $1000 The Nevada Insurance Commissioner may revoke the license of any licensed

producer who:

Is found lianle by final judgement in a civil case Fails to file an annual financial report with the Division of Insurance Fails to notify the Commissioner od a change of address within fort-eight hours Misappropriates monies belonging to policyholders Misappropriates monies belonging to policyholders Which of the following is a requirement to have certificate of registration?

An insurance producer A surplus lines broker An administrator An insurance consultant An insurance producer A producer who lives in an adjacent state and wants to write insurance in Nevada MUST obtain which of the following types of licenses?

Courtesy Temporary Nonresident Surplus lines Nonresident 3 / 4

pg. 4

Nevada insurance law defines an insurer as any:

A person who acts as a principal obligee to the contract A person who acts as a principal and an indemnitor in a contract of insurance A person who purchases a contract of insurance Adjuster who settles losses on insurance contracts Adjuster who settles losses on insurance contracts Fred and Jody are covered under a group health insurance plan at his place of employment. When Jody gave birth to their first child, what must he do in order to have coverage for their child?ANotify the insurer on the anniversary date of the plan BNotify the employer within 10 days CNotify the insurer immediately and provide proof of insurability DNotify the insurer within 31 days in order for coverage to continue without any evidence of insurability D 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 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 C

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