Nevada Life and Health Insurance Exam Prep (Latest Update) Questions & Answers| Grade A| 100% Correct (Verified Solution)

Nevada Life and Health Insurance Exam Prep (Latest Update) Questions & Answers| Grade A| 100% Correct (Verified Solution)

What are the four required elements of an insurance contract?
Correct answer: Agreement, consideration, competent parties,
and legal purpose.
What two parts make up a life insurance application?
Correct answer: General Information and the Medical
Information. An agent's report can go in a life insurance
application but is not included in the life insurance policy.
When must insurable interest exist in life insurance?
Correct answer: At the time of application.
When does coverage begin, if the premium was submitted with
the application, and the policy was issued two weeks later?
Correct answer: At the time of the application.
If an agent makes a mistake on the application and then corrects
it, who must initial that change?

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