South Carolina Insurance Exam Questions With Well Illustrated Solutions.

South Carolina Insurance Exam Questions With Well Illustrated Solutions. An sinsurer sis sREQUIRED sto soffer swhich sof sthe sfollowing sto seach slong-term scare sapplicant sat sthe stime sof spurchase? s- scorrect sanswers. sInflation sprotection Which sof sthese sriders swill spay sa sdeath sbenefit sif sthe sinsured's sspouse sdies? s- scorrect sanswers. sFamily sterm sinsurance srider Disability sincome splans swhich srequire sthat sthe sinsurer scan sNEVER schange sor salter spremium srates sare susually sconsidered s- scorrect sanswers. sNonconcellable What sis sthe srequired saction sto sbe staken sby sa sSouth sCarolina slicensee sbefore soperating sunder san sassumed sbusiness sname? s- scorrect sanswers. sNotify sthe sDirector The ssuicide sclause sof sa slife sinsurance spolicy sstates sthat sif san sinsured scommits ssuicide swithin sa sstated speriod sfrom sthe spolicy's sinception, sthe sinsurer swill sonly sbe sliable sfor sa sreturn sof spremiums spaid s- scorrect sanswers. sminus sindebtedness sand swithout sinterest If san sannuitant sdies sbefore sthe sannuity sstart sdate s- scorrect sanswers. sthe spremiums spaid splus sinterest swill sbe sgiven sto sthe sbeneficiary The spurpose sof sthe sCoordination sof sBenefits sprovision sin sgroup saccident sand shealth splans sis sto s- scorrect sanswers. savoid soverpayment sof sclaims The stypical slong-term scare sinsurance spolicy sis sdesigned sto sprovide sa sminimum sof___year(s) sof scoverage s- scorrect sanswers. s1 Decreasing sterm slife sinsurance sis soften sused sto s- scorrect sanswers. sprovide scoverage sfor sa shome smortgage Which stype sof slife sinsurance spolicy spays sthe sface samount sat sthe send sof sthe sspecified speriod sif sthe sinsured sis sstill salive? s- scorrect sanswers. sEndowment spolicy A slife sinsurance spolicy snormally scontains sa sprovision sthat srestricts scoverage sin sthe sevent sof sdeath sunder sall sof sthe sfollowing ssituations sEXCEPT s- scorrect sanswers. sfare-paying spassenger All s_____ spolicies smust sbe sguaranteed srenewable. s- scorrect sanswers. slong-term scare What stype sof sinjury swould sNOT sbe scovered sunder sa shealth sinsurance spolicy? s- scorrect sanswers. sWork srelated All sof sthese sare scommon sexclusions sto sa slife sinsurance spolicy sEXCEPT s- scorrect sanswers. saccidental shealth Which sof sthe sfollowing sdecisions swould sa sHealth sSavings sAccount s(HSA) sowner sNOT sbe sable sto smake? s- scorrect sanswers. sThe samount scontributed sby sthe semployer A swhole slife sinsurance spolicy saccumulates scash svalue sthat sbecomes s- scorrect sanswers. sthe spolicy sloan svalue swhich sthe sinsured smay sborrow sagainst Mike shas sinherited shis sfather's straditional sIRA. sAs sbeneficiary, she swill spay s____ staxes son sany smoney swithdrawn. s- scorrect sanswers. sincome An sinterest-sensitive slife sinsurance spolicyowner smay sbe sable sto swithdraw sthe spolicy's scash svalue sinterest sfree. sThe sprovision sthat sallows sthis sis scalled s- scorrect sanswers. sPartial sSurrender Krissa spurchases sa s10-year slevel sterm slife sinsurance spolicy sthat shas sa sdeath sbenefit sof s$200,000. sWhich sof sthese sstatements sis strue? s- scorrect sanswers. sThe sface samount sand spremium swill sremain sconstant sover sthe s10-year speriod Kristi spurchases san sannuity sthat swill spay sher shusband san sincome sfor s15 syears. sIf she sdies, sthis sincome swill sbecome spayable sto stheir schildren sfor sthe sremainder sof sthe speriod. sKristi shas swhat skind sof sannuity? s- scorrect sanswers. sTemporary sannuity scertain When sa squalified splan sstarts smaking spayments sto sits srecipient, swhich sportion sof sthe sdistributions sis staxable? s- scorrect sanswers. sGains Pre-death sdistributions sfrom sa smodified sendowment scontract s(MEC) sreceive sdifferent stax streatment sthan sother slife sinsurance spolicies sbecause s- scorrect sanswers. sthe sMEC stends sto sbe san sinvestment svehicle A smedical sprovider sthat saccepts sMedicare sAssignment smust s- scorrect sanswers. saccept spayment sbased supon sa sdefined sMedicare sschedule sas spayment sin sfull Proof sof sloss son sa shealth sinsurance sclaim smust sbe ssubmitted sto san sinsurer swithin___days safter sthe sinsured's sdate sof sloss s- scorrect sanswers. s90 The sentire scontract sincludes sthe sactual spolicy sand sthe s- scorrect sanswers. sapplication The sfactor sused smost soften swhen sunderwriting sa sdisability sincome spolicy sis s- scorrect sanswers. sannual searnings David ssubmits sa s$500 sclaim sfor smedical sexpenses. sThere sis sa spast-due samount sowed sfor sinsurance spremiums sof s$200. sAs sa sresult, sthe sinsurer sonly spays s$300 sfor sthe sclaim. sThis sdeduction scame sas sa sresult sof swhich sprovision? s- scorrect sanswers. sUnpaid sprovision Which sof sthese sis sNOT sconsidered sto sbe sa spurpose sof san sannuity? s- scorrect sanswers. sAnnuities sare sintended sto screate san sestate Which sof sthe sfollowing sis sNOT sa scircumstance sto swhich sa stemporary sproducer slicense scan sbe sissued? s- scorrect sanswers. sprospective sproducer swho sis swaiting sto stake sthe sstate slicensing sexamination In swhat sform sdo sdisability sincome spolicies stypically spay sbenefits? s- scorrect sanswers. speriodic sincome A srenewable sTerm sLife sinsurance spolicy sallows sthe spolicyowner sthe sright sto srenew sthe spolicy s- scorrect sanswers. swithout sproducing sproof sof sinsurability Donald sis sthe sprimary sinsured sof sa slife sinsurance spolicy sand sadds sa schildren's sterm srider. sWhat sis sthe sadvantage sof sadding sthis srider? s- scorrect sanswers. sCan sbe sconverted sto spermanent scoverage swithout sevidence sof sinsurability A sproducer shas scommitted san sinsurance scrime sthat sviolates sUS sCode s1033 s(interstate scommerce). sWho swould sbe sresponsible sfor sthe spersecution sof sthis scrime? s- scorrect sanswers. sUS sattorney sgeneral Under sa sgroup slife spolicy, sthe sinsurer swill sissue san sindividual s_____ sto sthe spolicyowner sfor sdelivery sto seach sperson sinsured. s- scorrect sanswers. scertificate Frank sis sshopping sfor sa sdisability sincome spolicy. sWhich sof sthe sfollowing swould shave sthe sHIGHEST spremium? s- scorrect sanswers. s14 sday speriod s/ s10 syear sbenefit speriod XYZ sCompany shas sapplied sfor sa sgroup shealth sinsurance sfor sits semployees. sWhat sinformation swould sthe sinsurers sunderwriters slikely suse sto sdetermine sthe sappropriate scoverage sand sfinal spremium srate sgiven sto sthe sgroup? s- scorrect sanswers. sExperience srating In sregards sto sa slife sinsurance scontract, swhich sof sthe sfollowing sstatements sis sNOT strue sregarding sthe sconcept sof sinsurable sinterest? s- scorrect sanswers. sInsurable sinterest scan sbe sestablished ssufficiently sby ssentimental sattachment salone Under sa sModified sEndowment sContract, swhat sare sthe slikely stax sconsequences? s- scorrect sanswers. sPre-death sdistributions swill sbecome staxable Key sperson sDisability sInsurance spays sbenefits sto sthe s- scorrect sanswers. semployer Sonya sapplied sfor sa shealth sinsurance spolicy son sApril s1. sHer sagent ssubmitted sthe sinformation sto sthe sinsurance scompany son sApril s6. sShe spaid sthe spremium son sMay s15 swith sthe spolicy sindicating sthe seffective sdate sbeing sMay s30. sOn swhich sdate swould sSonya shave scoverage? s- scorrect sanswers. sMay s30 What shappens sto sinterest searned sif sthe sannuitant sdies sbefore sthe spayout sstart sdate? s- scorrect sanswers. sIt sis staxable The staxable sportion sof seach sannuity spayment sis scalculated susing swhich smethod? s- scorrect sanswers. sExclusion sRatio What skind sof slife sinsurance spolicy sissued sby sa smutual sinsurer sprovides sa sreturn sof sdivisible ssurplus? s- scorrect sanswers. sparticipating slife sinsurance spolicy What shappens sto sthe scoverage sunder sa schildren's sterm srider swhen sthat schild sreached sa scertain sspecified sage? s- scorrect sanswers. sCoverage sis seliminated Under sa sdisability sincome spolicy, swhich sprovision swould sbe spayable sif sthe scause sof san sinjury sis sunexpected sand saccidental? s- scorrect sanswers. saccidental sbodily sinjury sprovision Which sof sapproach spredicts sa spersons searning spotential sand sdetermines show smuch sof sthat samount swould sbe sdevoted sto sdependents? s- scorrect sanswers. sHuman slife svalue sapproach Which sof sthese swill shave sthe shighest smonthly spayout supon sannuitization s- scorrect sanswers. sStraight slife Which sof sthe sfollowing sis sNOT san sUnfair sClaim sSettlement sPractice? s- scorrect sanswers. sProviding sclaim spayments sto sinsureds saccording sto sthe spolicy's scoverage sguidelines With sa sscheduled sdental spolicy, show sare scovered sexpenses spaid? s- scorrect sanswers. sBenefits sare slimited sto sa sspecific smaximum sdollar samount sper sprocedure Medicare sPart sA s(aka sHospital sInsurance sor sHI) scovers s- scorrect sanswers. sinpatient shospital sstay Within___days safter spolicy sdelivery, san sindividual slife sinsurance spolicy scan sbe sreturned sfor sa s100% spremium srefund s- scorrect sanswers. s10 Tyler spurchased sa sdisability spolicy swith sa swaiver sof spremium srider son sApril s1. sHe sis sdisabled son sMay s1. sOn sJune s1, she sreceives sproof sof spermanent sand stotal sdisability, sand ssubmits sa sclaim. sHe sbegins sreceiving sbenefits son sJune s15. sWhen sare shis spremiums swaived? s- scorrect sanswers. sMay s1 Sole sproprietors sare spermitted stax sdeduction sfor shealth scost spaid sfrom stheir searnings sin sthe samount sof s- scorrect sanswers. s100% sof scost Health sInsurance swill stypically scover swhich sof sthe sfollowing sperils? s- scorrect sanswers. sInjury sdue sto saccident Which sof sthe sfollowing spolicies sdoes sNOT sbuild scash svalue? s- scorrect sanswers. sTerm Premiums spaid sthat sexceed s7 s1/2% sof san sinsured's sAdjusted sGross sIncome s(AGI) sare stax-deductible swhen spaid sfor swhich sof sthe sfollowing splans? s- scorrect sanswers. sQualified sLong-Term sCare splan Tara sthe sproducer sis sdelivering sa sspecified sdisease sinsurance spolicy sto sa snew spolicyowner. sUpon sdelivery, sshe smay sbe sexpected sto scollect sall sof sthe sfollowing sEXCEPT sa(n) s- scorrect sanswers. smodified sapplication swith sa snew ssignature Of sthe sfollowing sdividend soptions, swhich sof sthese sis staxable? s- scorrect sanswers. sAccumulation sof sinterest Where swould spolicy sproceeds sbe spaid sif sboth sthe sinsured sand sprimary sbeneficiary swere skilled sin sthe ssame saccident? s- scorrect sanswers. scontingent sbeneficiary All sof sthese sare scharacteristics sof sa smajor smedical sexpense spolicy sEXCEPT s- scorrect sanswers. selimination speriods Upon spolicy sdelivery, swhich sof sthe sfollowing smust sa sproducer shave san sapplicant ssign sif sno sinitial spremium swas scollected swith sthe slife sinsurance sapplication? s- scorrect sanswers. sgood shealth sstatement A shealth sinsurance spolicy swhere sthe sinsurer shas sthe sright sto sterminate sthe spolicy sfor sreason sother sthan sthe sinsured's shealth sis scalled s- scorrect sanswers. sconditionally srenewable All sof sthe sfollowing sare squalifications sfor sestablishing sa shealth ssavings saccount s(HSA) sEXCEPT s- scorrect sanswers. sEnrolled sin sa shealth splan swith sa sprescription sdrug sbenefit Which sof sthese sis sNOT sconsidered sto sbe sa snonforfeiture soption sin sa swhole slife sinsurance spolicy? s- scorrect sanswers. sInterest sonly Which sof sthe sfollowing sactions sis sREQUIRED sby sa sproducer swho sis sreplacing san sexisting slife sinsurance spolicy? s- scorrect sanswers. sSubmit sto sthe sreplacing sinsurer sa slist sof sthe spolicies sto sbe sreplaced An sinsured shas sa shealth splan sthat spays sestablished samounts sin saccordance swith sa slist sof sinjuries, ssurgical sprocedures, sor sother slosses. sThis slist sis scalled sa s- scorrect sanswers. sbenefit sschedule