LAWS AND RULES PERTINENT
TO INSURANCE EXAM WITH
FULL PACK SOLUTIONS
A vform vof vmedical vhealth vinsurance vcovering vthe vtreatment vand vcare vof vgum vdisease
vis vcalled:
vMedicaid
vMajor vMedical
vFranchise vhealth vpolicy
vDental vexpense vinsurance v- vcorrect vanswer-Dental vexpense vinsurance
In vSouth vCarolina, vwhat vis vthe vMAXIMUM vlength vof vtime van vinsurer vcan vdefer
vpayment vof va vcash vsurrender vvalue vof van vannuity?
v6 vmonths
v12 vmonths
v18 vmonths
v24 vmonths v- vcorrect vanswer-6 vmonths
When vcan va vpolicy vno vlonger vbe vcancelled vfor vnonfraudulent vmisstatements vafter vits
vdate vof vissue?
v1 vyear
v2 vyears
v5 vyears
vAt vany vtime v- vcorrect vanswer-2 vyears
Which vof vthe vfollowing vis vNOT van vexample vof vinducement vto vpurchase vinsurance?
vA vpromise vof vemployment
vA vgift vhaving va vvalue vless vthan v$25
vA vspecial vfavor vin vthe vpayment vof vpremiums
, vGiving vmerchandise vto va vclient vwith va vvalue vof v$100 v- vcorrect vanswer-A vgift vhaving
va vvalue vless vthan v$25
The vDirector vMUST vexamine vdomestic vinsurers vAT vLEAST vonce vevery:
vyear
v3 vyears
v5 vyears
v7 vyears v- vcorrect vanswer-5 vyears
An vinsurer vmay vrefuse vto vissue va vpolicy vto va vparticular vinsurance vapplicant vfor va
vreason vbased vsolely von:
vmedical vcondition
vrace
vgender
vcreed v- vcorrect vanswer-medical vcondition
Mary vis vissued van vinitial vproducer's vlicense von vApril v29, v2012. vHer vbirthdate vis vMarch
v14, v1980. vWhen vdoes vher vlicense vrenew?
vMarch v31, v2013
vApril v29, v2013
vMarch v31, v2014
vApril v29, v2014 v- vcorrect vanswer-March v31, v2014
An vinsurance vproducer vCANNOT vact vas van vagent vof van vinsurer vuntil vthe vinsurance
vproducer vbecomes:
vlicensed
vdesignated vresponsible vproducer
va vmember vof vthe vNational vAssociation vof vInsurance vCommissioners v(NAIC)
vappointed vby vthe vinsurer v- vcorrect vanswer-appointed vby vthe vinsurer
A vpolicy villustration vgiven vat vtime vof vsale vdoes vNOT vtypically vinclude vthe:
vcash vvalue vof vthe vpolicy
vnames vof vthe vbeneficiary
veffective vinterest vrate vfor vpolicy vloans
v10th vand v20th vyear vcost vsurrender vvalue v- vcorrect vanswer-Names vof vthe vbeneficiary
Someone vwho vsells, vsolicits, vor vnegotiates vinsurance vcontracts vfor vcompensation von
vbehalf vof van vinsurer vis vcalled:
van vinsurance vbroker
van vinsurance vproducer
van vinsurance vadvisor
van vinsurance vsolicitor v- vcorrect vanswer-an vinsurance vproducer
How vmany vyears vis va vproducer vREQUIRED vto vmaintain vtransaction vrecords vof va
vpolicy?
v3 vyears
v5 vyears
v7 vyears
v10 vyears v- vcorrect vanswer-5 vyears
TO INSURANCE EXAM WITH
FULL PACK SOLUTIONS
A vform vof vmedical vhealth vinsurance vcovering vthe vtreatment vand vcare vof vgum vdisease
vis vcalled:
vMedicaid
vMajor vMedical
vFranchise vhealth vpolicy
vDental vexpense vinsurance v- vcorrect vanswer-Dental vexpense vinsurance
In vSouth vCarolina, vwhat vis vthe vMAXIMUM vlength vof vtime van vinsurer vcan vdefer
vpayment vof va vcash vsurrender vvalue vof van vannuity?
v6 vmonths
v12 vmonths
v18 vmonths
v24 vmonths v- vcorrect vanswer-6 vmonths
When vcan va vpolicy vno vlonger vbe vcancelled vfor vnonfraudulent vmisstatements vafter vits
vdate vof vissue?
v1 vyear
v2 vyears
v5 vyears
vAt vany vtime v- vcorrect vanswer-2 vyears
Which vof vthe vfollowing vis vNOT van vexample vof vinducement vto vpurchase vinsurance?
vA vpromise vof vemployment
vA vgift vhaving va vvalue vless vthan v$25
vA vspecial vfavor vin vthe vpayment vof vpremiums
, vGiving vmerchandise vto va vclient vwith va vvalue vof v$100 v- vcorrect vanswer-A vgift vhaving
va vvalue vless vthan v$25
The vDirector vMUST vexamine vdomestic vinsurers vAT vLEAST vonce vevery:
vyear
v3 vyears
v5 vyears
v7 vyears v- vcorrect vanswer-5 vyears
An vinsurer vmay vrefuse vto vissue va vpolicy vto va vparticular vinsurance vapplicant vfor va
vreason vbased vsolely von:
vmedical vcondition
vrace
vgender
vcreed v- vcorrect vanswer-medical vcondition
Mary vis vissued van vinitial vproducer's vlicense von vApril v29, v2012. vHer vbirthdate vis vMarch
v14, v1980. vWhen vdoes vher vlicense vrenew?
vMarch v31, v2013
vApril v29, v2013
vMarch v31, v2014
vApril v29, v2014 v- vcorrect vanswer-March v31, v2014
An vinsurance vproducer vCANNOT vact vas van vagent vof van vinsurer vuntil vthe vinsurance
vproducer vbecomes:
vlicensed
vdesignated vresponsible vproducer
va vmember vof vthe vNational vAssociation vof vInsurance vCommissioners v(NAIC)
vappointed vby vthe vinsurer v- vcorrect vanswer-appointed vby vthe vinsurer
A vpolicy villustration vgiven vat vtime vof vsale vdoes vNOT vtypically vinclude vthe:
vcash vvalue vof vthe vpolicy
vnames vof vthe vbeneficiary
veffective vinterest vrate vfor vpolicy vloans
v10th vand v20th vyear vcost vsurrender vvalue v- vcorrect vanswer-Names vof vthe vbeneficiary
Someone vwho vsells, vsolicits, vor vnegotiates vinsurance vcontracts vfor vcompensation von
vbehalf vof van vinsurer vis vcalled:
van vinsurance vbroker
van vinsurance vproducer
van vinsurance vadvisor
van vinsurance vsolicitor v- vcorrect vanswer-an vinsurance vproducer
How vmany vyears vis va vproducer vREQUIRED vto vmaintain vtransaction vrecords vof va
vpolicy?
v3 vyears
v5 vyears
v7 vyears
v10 vyears v- vcorrect vanswer-5 vyears
