Nevada Life Insurance Study Guide Rated A+

When a viator sells a life insurance policy, A Collateral assignment is given to the insurance company. B Absolute assignment is given to the viatical settlement company. C Collateral assignment is given to the viatical settlement company. D Absolute assignment is given to the insurance company. {Ans: B}A viatical settlement is arranged between a viatical company and a/an A Beneficiary. B Lender. C Terminally ill insured. D Insurance producer. {Ans: C}An organization that operates on a lodge system and provides a formal life insurance plan to its members is classified as a AReciprocal association. BFraternal insurer. CMutual company. DStock company. {Ans: B}For how long must agents retain copies of notices and sales proposals for life insurance applications? A 1 year B 5 years C 10 years D 3 years {Ans: D}A woman obtains health coverage through the Marketplace on October 1. Two weeks later she finds out that she is 3 months pregnant. Which of the following is true about coverage for pregnancy? APregnancy may be covered with the insurer's special approval. BPregnancy will be covered immediately. CPregnancy will only be covered if additional premium is paid. DPregnancy will not be covered as a pre-existing condition.