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NC Life Insurance Exam ||Verified Exam!!!|| Most
Recent Exam Actual Complete Real Exam Questions
And Correct Answers (Verified Answers) Already
Graded | Guaranteed Success!! Newest Exam!!!
Circulation of any oral or written statement or any
pamphlet, circular, article or literature that is false or
maliciously critical of or derogatory to the financial
condition of an insurer is known as - Answer-Defamation
All of the following are considered characteristics
describing the nature of an insurance contract EXCEPT -
Answer-Bilateral
A 15-year mortgage is best protected by what kind of life
policy? - Answer-15-year decreasing term
Companies in NC may transact solicitations for insurance
ONLY through - Answer-Licensed agents
Which of these retirement plans can be started by an
employee, even if another plan is in existence - Answer-
Individual Retirement Account (IRA)
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A life policy with a death benefit that can fluctuate
according to the performance of its underlying investment
portfolio is referred to as - Answer-Variable life
If an annuity is terminated prior to the beginning of the
income payment period, the contract owner receives -
Answer-The contract surrender value at that time
A provision in a life insurance policy that pays the policy
owner an amount that doesn't surpass the guaranteed
cash value is called the - Answer-Policy Loan Provision
When does a Guaranteed Insurability Rider allow the
insured to buy additional coverage? - Answer-At future
dates specified in the contract with no evidence of
insurability required
T, age 70, withdrawals cash from a profit-sharing plan and
purchases a Straight Life Annuity. What will this
transaction provide? - Answer-Income that cannot be
outlived by the owner
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A level premium indicates - Answer-The premium is fixed
for the entire duration of the contract
K has a life insurance policy where her husband is
beneficiary and her daughter is contingent beneficiary.
Under the Common Disaster clause, if K and her husband
are both killed in an automobile accident, where would the
death proceeds be directed? - Answer-Daughter
Which of the following statements is correct about the
period in which a Term Policy can be converted? - Answer-
It can be changed by the insured
What group term life feature permits an individual to
depart from the group and continue to be converted
without providing evidence of insurability? - Answer-
Conversion
An insured covered by life insurance has just died. What
will happen if the primary beneficiary had already died
before the insured and contingent beneficiary? - Answer-
Proceed will go to the contingent beneficiary
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S buys a $10,000 Whole Life Policy in 2003 and pays an
annual premium of $100. S dies 5 years later in 2008 and
the insurer pays the beneficiary $10,500. What kind of
rider did S include on the policy? - Answer-Return of
Premium rider
One of the stated purposes of the Life and Health
Insurance Guaranty Association is to - Answer-Assist in
the prevention of insurer insolvencies
An agent who sells an individual life insurance policy in
NC MUST deliver to the policyowner - Answer-A policy
summary and buyer's guide
All of the following actions are considered rebating
EXCEPT - Answer-Sharing commissions with other
licensed and appointed agents
What benefit does the Payor Clause on a Juvenile Life
Policy provide? - Answer-Premiums are waived if payor
becomes disabled
An agent who signs a blank contract application or policy
of insurance - Answer-Is guilty of a misdemeanor
NC Life Insurance Exam ||Verified Exam!!!|| Most
Recent Exam Actual Complete Real Exam Questions
And Correct Answers (Verified Answers) Already
Graded | Guaranteed Success!! Newest Exam!!!
Circulation of any oral or written statement or any
pamphlet, circular, article or literature that is false or
maliciously critical of or derogatory to the financial
condition of an insurer is known as - Answer-Defamation
All of the following are considered characteristics
describing the nature of an insurance contract EXCEPT -
Answer-Bilateral
A 15-year mortgage is best protected by what kind of life
policy? - Answer-15-year decreasing term
Companies in NC may transact solicitations for insurance
ONLY through - Answer-Licensed agents
Which of these retirement plans can be started by an
employee, even if another plan is in existence - Answer-
Individual Retirement Account (IRA)
,2|Page
A life policy with a death benefit that can fluctuate
according to the performance of its underlying investment
portfolio is referred to as - Answer-Variable life
If an annuity is terminated prior to the beginning of the
income payment period, the contract owner receives -
Answer-The contract surrender value at that time
A provision in a life insurance policy that pays the policy
owner an amount that doesn't surpass the guaranteed
cash value is called the - Answer-Policy Loan Provision
When does a Guaranteed Insurability Rider allow the
insured to buy additional coverage? - Answer-At future
dates specified in the contract with no evidence of
insurability required
T, age 70, withdrawals cash from a profit-sharing plan and
purchases a Straight Life Annuity. What will this
transaction provide? - Answer-Income that cannot be
outlived by the owner
,3|Page
A level premium indicates - Answer-The premium is fixed
for the entire duration of the contract
K has a life insurance policy where her husband is
beneficiary and her daughter is contingent beneficiary.
Under the Common Disaster clause, if K and her husband
are both killed in an automobile accident, where would the
death proceeds be directed? - Answer-Daughter
Which of the following statements is correct about the
period in which a Term Policy can be converted? - Answer-
It can be changed by the insured
What group term life feature permits an individual to
depart from the group and continue to be converted
without providing evidence of insurability? - Answer-
Conversion
An insured covered by life insurance has just died. What
will happen if the primary beneficiary had already died
before the insured and contingent beneficiary? - Answer-
Proceed will go to the contingent beneficiary
, 4|Page
S buys a $10,000 Whole Life Policy in 2003 and pays an
annual premium of $100. S dies 5 years later in 2008 and
the insurer pays the beneficiary $10,500. What kind of
rider did S include on the policy? - Answer-Return of
Premium rider
One of the stated purposes of the Life and Health
Insurance Guaranty Association is to - Answer-Assist in
the prevention of insurer insolvencies
An agent who sells an individual life insurance policy in
NC MUST deliver to the policyowner - Answer-A policy
summary and buyer's guide
All of the following actions are considered rebating
EXCEPT - Answer-Sharing commissions with other
licensed and appointed agents
What benefit does the Payor Clause on a Juvenile Life
Policy provide? - Answer-Premiums are waived if payor
becomes disabled
An agent who signs a blank contract application or policy
of insurance - Answer-Is guilty of a misdemeanor
