NC LIFE INSURANCE LATEST 2026/2027 ACTUAL EXAM 122 QUESTIONS WITH CORRECT ANSWERS 100% VERIFIED GRADED A+

NC LIFE INSURANCE LATEST
2026/2027 ACTUAL EXAM 122
QUESTIONS WITH CORRECT
ANSWERS 100% VERIFIED GRADED
A+
1. AnmagentmwhomsellsmanmindividualmlifeminsurancempolicyminmNCmMUSTmdelivermtomthempolic
yownerm-mCORRECTmANSWERmAmpolicymsummarymandmbuyer'smguide



2. AllmofmthemfollowingmactionsmaremconsideredmrebatingmEXCEPTm-
mCORRECTmANSWERmSharingmcommissionsmwithmothermlicensedmandmappointedmagents




3. WhatmbenefitmdoesmthemPayormClausemonmamJuvenilemLifemPolicymprovide?m-
mCORRECTmANSWERmPremiumsmaremwaivedmifmpayormbecomesmdisabled




4. Anmagentmwhomsignsmamblankmcontractmapplicationmormpolicymofminsurancem-
mCORRECTmANSWERmIsmguiltymofmammisdemeanor




5. AmpersonmismrequiredmtombemATmLEASTmhowmoldmbeforemhemormshemismlicensedmasmanmagent
minmNC?m-mCORRECTmANSWERm18




6. Inmamlifeminsurancempolicy,mwhichmfeaturemstatesmthatmthempolicymwillmnotmcovermcertainmris
ks?m-mCORRECTmANSWERmExclusion



7. WholemLifeminsurancemaremcontractuallymguaranteedmtomprovidemeachmofmthemfollowingmE
XCEPT?m-
mCORRECTmANSWERmPartialmwithdrawalmfeaturesmbeyondmamsurrendermchargemperiod

,8. Amtermmlifeminsurancempolicymmaturesm-
mCORRECTmANSWERmUponmtheminsured'smdeathmduringmthemtermmofmthempolicy




9. Whichmofmthesemprovisionsmrequiremproofmofminsurabilitymaftermampolicymhasmlapsed?m-
mCORRECTmANSWERmReinstatement




10. HowmdoesmamtypicalmVariablemLifemPolicymInvestmentmaccountmgrow?m-
mCORRECTmANSWERmThroughmmutualmfunds,mstocks,mandmbonds




11. Circulationmofmanymoralmormwrittenmstatementmormanympamphlet,mcircular,marticlemormliterat
uremthatmismfalsemormmaliciouslymcriticalmofmormderogatorymtomthemfinancialmconditionmofma
nminsurermismknownmasm-mCORRECTmANSWERmDefamation



12. Allmofmthemfollowingmaremconsideredmcharacteristicsmdescribingmthemnaturemofmanminsuran
cemcontractmEXCEPTm-mCORRECTmANSWERmBilateral



13. Am15-yearmmortgagemismbestmprotectedmbymwhatmkindmofmlifempolicy?m-
mCORRECTmANSWERm15-yearmdecreasingmterm




14. CompaniesminmNCmmaymtransactmsolicitationsmforminsurancemONLYmthroughm-
mCORRECTmANSWERmLicensedmagents




15. Whichmofmthesemretirementmplansmcanmbemstartedmbymanmemployee,mevenmifmanothermplan
misminmexistencem-mCORRECTmANSWERmIndividualmRetirementmAccountm(IRA)




16. Amlifempolicymwithmamdeathmbenefitmthatmcanmfluctuatemaccordingmtomthemperformancemofmi
tsmunderlyingminvestmentmportfoliomismreferredmtomasm-mCORRECTmANSWERmVariablemlife

, 17. Ifmanmannuitymismterminatedmpriormtomthembeginningmofmthemincomempaymentmperiod,mthe
mcontractmownermreceivesm-


mCORRECTmANSWERmThemcontractmsurrendermvaluematmthatmtime




18. Amprovisionminmamlifeminsurancempolicymthatmpaysmthempolicymownermanmamountmthatmdoes
n'tmsurpassmthemguaranteedmcashmvaluemismcalledmthem-
mCORRECTmANSWERmPolicymLoanmProvision




19. WhenmdoesmamGuaranteedmInsurabilitymRidermallowmtheminsuredmtombuymadditionalmcovera
ge?m-
mCORRECTmANSWERmAtmfuturemdatesmspecifiedminmthemcontractmwithmnomevidencemofminsu


rabilitymrequired



20. T,magem70,mwithdrawalsmcashmfrommamprofit-
sharingmplanmandmpurchasesmamStraightmLifemAnnuity.mWhatmwillmthismtransactionmprovide?
m-mCORRECTmANSWERmIncomemthatmcannotmbemoutlivedmbymthemowner




21. Amlevelmpremiummindicatesm-
mCORRECTmANSWERmThempremiummismfixedmformthementiremdurationmofmthemcontract




22. Kmhasmamlifeminsurancempolicymwheremhermhusbandmismbeneficiarymandmhermdaughtermismco
ntingentmbeneficiary.mUndermthemCommonmDisastermclause,mifmKmandmhermhusbandmarembo
thmkilledminmanmautomobilemaccident,mwheremwouldmthemdeathmproceedsmbemdirected?m-
mCORRECTmANSWERmDaughter




23. WhichmofmthemfollowingmstatementsmismcorrectmaboutmthemperiodminmwhichmamTermmPolicy
mcanmbemconverted?m-mCORRECTmANSWERmItmcanmbemchangedmbymtheminsured




24. Whatmgroupmtermmlifemfeaturempermitsmanmindividualmtomdepartmfrommthemgroupmandmcon
tinuemtombemconvertedmwithoutmprovidingmevidencemofminsurability?m-
mCORRECTmANSWERmConversion