SOUTH CAROLINA LIFE AND HEALTH INSURANCE
2024 EXAM 2 VERSIONS (VERSION A AND B)
COMPLETE QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) /
ALREADY GRADED A+
Which annuity payout option allows the policyowner to choose a pre-determined
number of benefit payments? - ans -Period certain
An individual can enroll in a Part C Medicare Advantage Plan at what time? - ans -
When becoming eligible for Medicare
Krissa purchased a 10-year level term insurance policy that has a death benefit of
$200,000. Which of these statements are true? - ans -The face amount and
premium will remain constant over the 10 year period
A life policy loan in south Carolina cannot charge a - ans -8%
How much does Medicare Part B pay for physician fees? - ans -80%
Credit Accident and Health plans are designed to - ans -
In south Carolina health policies that are paid less-frequent than monthly must
provide a grace period of at least - ans -7 days
Which of the following decisions would a health savings account (HSA) owner
NOT be able to make? - ans -the amount contributed by the employer
All _____ policies must be guaranteed renewable. - ans -long term care
Barbara's policy includes a rider which allows her to purchase additional
insurance at specific dates or events without evidence of insurability. This rider is
called a(n) - ans -Guaranteed insurable rider
No Long-Term Care policy may exclude pre-existing conditions for a period of
more than - ans -6 months
, The conversion privilege under a group life plan allows an employee to convert to
a(n) - ans -individual employment upon employee termination
Which of these factors is NOT taken into consideration when determining the cost
of long term care policy? - ans -personal income
A producer who sells an individual life insurance policy in South Carolina MUST
deliver to the policy owner a(n) - ans -policy summary and buyer's guide
What is the elimination period of an individual disability policy? - ans -time period
a disabled person must wait before benefits are paid
Replacement regulation is designed to protect - ans -Policyowners from
misrepresentations and loss of benefits
disability income plans which require that the insurer can NEVER change or alter
premium rates are usually considered - ans -Noncancelable
A plan in which an employer pays insurance benefits from a fund derived from the
employers current revenues is called? - ans -A self funded plan
When must a claim on a life insurance policy be paid after proof of loss has been
received by the insurer? - ans -within 30 days
Which type of multiple protection policy pays on the death of the last person? -
ans -Survivorship life policy
An example of a presumptive disability would be - ans -deafness
Richard owns an insurance policy that is renewable only at the option of the
insurance company. His policy is considered to be - ans -optionally renewable
An employer is issued a group medical insurance policy. This single contract is
known as a(n) - ans -master policy
2024 EXAM 2 VERSIONS (VERSION A AND B)
COMPLETE QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) /
ALREADY GRADED A+
Which annuity payout option allows the policyowner to choose a pre-determined
number of benefit payments? - ans -Period certain
An individual can enroll in a Part C Medicare Advantage Plan at what time? - ans -
When becoming eligible for Medicare
Krissa purchased a 10-year level term insurance policy that has a death benefit of
$200,000. Which of these statements are true? - ans -The face amount and
premium will remain constant over the 10 year period
A life policy loan in south Carolina cannot charge a - ans -8%
How much does Medicare Part B pay for physician fees? - ans -80%
Credit Accident and Health plans are designed to - ans -
In south Carolina health policies that are paid less-frequent than monthly must
provide a grace period of at least - ans -7 days
Which of the following decisions would a health savings account (HSA) owner
NOT be able to make? - ans -the amount contributed by the employer
All _____ policies must be guaranteed renewable. - ans -long term care
Barbara's policy includes a rider which allows her to purchase additional
insurance at specific dates or events without evidence of insurability. This rider is
called a(n) - ans -Guaranteed insurable rider
No Long-Term Care policy may exclude pre-existing conditions for a period of
more than - ans -6 months
, The conversion privilege under a group life plan allows an employee to convert to
a(n) - ans -individual employment upon employee termination
Which of these factors is NOT taken into consideration when determining the cost
of long term care policy? - ans -personal income
A producer who sells an individual life insurance policy in South Carolina MUST
deliver to the policy owner a(n) - ans -policy summary and buyer's guide
What is the elimination period of an individual disability policy? - ans -time period
a disabled person must wait before benefits are paid
Replacement regulation is designed to protect - ans -Policyowners from
misrepresentations and loss of benefits
disability income plans which require that the insurer can NEVER change or alter
premium rates are usually considered - ans -Noncancelable
A plan in which an employer pays insurance benefits from a fund derived from the
employers current revenues is called? - ans -A self funded plan
When must a claim on a life insurance policy be paid after proof of loss has been
received by the insurer? - ans -within 30 days
Which type of multiple protection policy pays on the death of the last person? -
ans -Survivorship life policy
An example of a presumptive disability would be - ans -deafness
Richard owns an insurance policy that is renewable only at the option of the
insurance company. His policy is considered to be - ans -optionally renewable
An employer is issued a group medical insurance policy. This single contract is
known as a(n) - ans -master policy
