South Carolina Life and Health Exam | ACCURATE
QUESTIONS AND DETAILED ANSWERS |
GUARANTEED PASS | GRADED A | LATEST UPDATE
2024-2025 WITH 200 QUESTIONS
What type of injury would NOT be covered under a health insurance policy? -
ANSWER work-related
A life policy loan in South Carolina cannot charge a fixed rate of interest higher
that
- ANSWER 8%
The free look period in South Carolina for individual health insurance policies is
____ days.
- ANSWER 10
What guarantees that the statements supplied by an insurance applicant are true?
- ANSWER warranty
Which of the following would be considered an underwriting duty of an agent? -
ANSWER completing all applications and collecting initial premiums
Level premium term life insurance policies
- ANSWER have premiums that are averaged over the policy period
,All of the following are considered to be nonforfeiture options available to a policy
owner EXCEPT
- ANSWER Reduction of Premium
Tyler purchased a disability policy with a waiver of premium rider on April 1. He is
disabled on May 1. On June 1, he receives proof of permanent and total disability,
and submits a claim. He begins receiving benefits on June 15. When are his
premiums waived?
- ANSWER May 1
Which settlement option involves having the proceeds remain with the insurer
and earnings paid on a monthly basis to the beneficiary?
- ANSWER interest only
Which of these would NOT contribute to a presumptive disability?
- ANSWER loss of a leg or arm
Within _____ days after policy delivery, individual life insurance can be returned
for a 100% premium refund
- ANSWER 10
An insurer is REQUIRED to offer which of the following to each long-term care
applicant at the time of purchase? –
ANSWER Inflation protection
What is the tax liability for employer contributions in Health Savings Accounts
(HSA's)?
, - ANSWER No tax payment needed
When are group disability benefits considered to be tax-free to the insured? -
ANSWER When the recipient pays the premiums
The type of multiple protection coverage that pays on the death of the last person
is called a(n)
- ANSWER survivorship life policy
Which of these is NOT considered to be a purpose of an annuity?
- ANSWER Annuities are intended to create an estate
The deeds and actions of a producer indicate what kind of authority?
- ANSWER apparent
In an employer-sponsored contributory group Disability Income plan, the
employer pays 60% of the premium and each employee pays 40% of the premium.
Any income benefits paid are taxed to the employee at
- ANSWER 60% of the benefit
A 70-year-old insured individual has suffered from kidney failure for the past 24
months. She is covered by her spouse's large-group employer plan. How will
Medicare be utilized in this situation?
- ANSWER Will be the secondary insurer and pay for claims not fully covered by
the group plan
QUESTIONS AND DETAILED ANSWERS |
GUARANTEED PASS | GRADED A | LATEST UPDATE
2024-2025 WITH 200 QUESTIONS
What type of injury would NOT be covered under a health insurance policy? -
ANSWER work-related
A life policy loan in South Carolina cannot charge a fixed rate of interest higher
that
- ANSWER 8%
The free look period in South Carolina for individual health insurance policies is
____ days.
- ANSWER 10
What guarantees that the statements supplied by an insurance applicant are true?
- ANSWER warranty
Which of the following would be considered an underwriting duty of an agent? -
ANSWER completing all applications and collecting initial premiums
Level premium term life insurance policies
- ANSWER have premiums that are averaged over the policy period
,All of the following are considered to be nonforfeiture options available to a policy
owner EXCEPT
- ANSWER Reduction of Premium
Tyler purchased a disability policy with a waiver of premium rider on April 1. He is
disabled on May 1. On June 1, he receives proof of permanent and total disability,
and submits a claim. He begins receiving benefits on June 15. When are his
premiums waived?
- ANSWER May 1
Which settlement option involves having the proceeds remain with the insurer
and earnings paid on a monthly basis to the beneficiary?
- ANSWER interest only
Which of these would NOT contribute to a presumptive disability?
- ANSWER loss of a leg or arm
Within _____ days after policy delivery, individual life insurance can be returned
for a 100% premium refund
- ANSWER 10
An insurer is REQUIRED to offer which of the following to each long-term care
applicant at the time of purchase? –
ANSWER Inflation protection
What is the tax liability for employer contributions in Health Savings Accounts
(HSA's)?
, - ANSWER No tax payment needed
When are group disability benefits considered to be tax-free to the insured? -
ANSWER When the recipient pays the premiums
The type of multiple protection coverage that pays on the death of the last person
is called a(n)
- ANSWER survivorship life policy
Which of these is NOT considered to be a purpose of an annuity?
- ANSWER Annuities are intended to create an estate
The deeds and actions of a producer indicate what kind of authority?
- ANSWER apparent
In an employer-sponsored contributory group Disability Income plan, the
employer pays 60% of the premium and each employee pays 40% of the premium.
Any income benefits paid are taxed to the employee at
- ANSWER 60% of the benefit
A 70-year-old insured individual has suffered from kidney failure for the past 24
months. She is covered by her spouse's large-group employer plan. How will
Medicare be utilized in this situation?
- ANSWER Will be the secondary insurer and pay for claims not fully covered by
the group plan
