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SOUTH CAROLINA LIFE AND HEALTH
INSURANCE 2025 UPDATED ACTUAL EXAM
WITH CORRECT SOLUTIONS.
Greg has recently been terminated from his job that covered
group life insurance. How long does he have to convert his
coverage to an individual policy? - correct answer- 31 days
which of these would NOT be considered a presumptive
disability? - correct answer- lost of an leg or arm
The premium payment mode that results in the highest overall
cost would be? - correct answer- monthly
What is an insurance policy grace period? - correct answer-
Period of time after the premium is due but the policy remains
in force
A Non contributory health insurance plan helps the insurer
avoid? - correct answer- adverse selection
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Twisting is best defined as - correct answer- Using
misrepresentation to induce an insured person to terminate an
existing policy and purchase a new policy
The cause of a loss is referred to as a(n) - correct answer- peril
Which of these statements regarding the annuitant is
CORRECT? - correct answer- The annuitant's life expectancy
determines the annuity payments.
a provision in a whole life policy that allows a policy owner to
terminate the policy in return for a reduced paid-up policy of the
same type is called a(n) - correct answer- nonforfeiture
provision
Which of the following is not a required provision in an accident
and health insurance policy? - correct answer- change of
occupation
A disability income policy can prevent an insured from earning
a higher income than if she/he were working by utilizing? -
correct answer- benefit limits
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Which of the following is the BEST example of insurance fraud?
- correct answer- A deliberate lie by an insured to the insurer to
obtain a lower premium.
Long-term care policies may provide coverage from claims
arising from? - correct answer- Senile dementia
Who assumes the investment risk with a fixed annuity contract?
- correct answer- The insurer
A life insurance REPLACEMENT transaction gives the
policyowner the right to return the policy for a 100% refund
within ______ days of policy deliverer. - correct answer- 30
A life insurance rider that allows an individual to purchase
insurance as they grow older, regardless of insurability is called
a(n) ? - correct answer- guaranteed insurability rider
A health insurance policy where the insurer has the right to
terminate the policy for reasons other than the insured health is
called? - correct answer- Conditionally Renewable
SOUTH CAROLINA LIFE AND HEALTH
INSURANCE 2025 UPDATED ACTUAL EXAM
WITH CORRECT SOLUTIONS.
Greg has recently been terminated from his job that covered
group life insurance. How long does he have to convert his
coverage to an individual policy? - correct answer- 31 days
which of these would NOT be considered a presumptive
disability? - correct answer- lost of an leg or arm
The premium payment mode that results in the highest overall
cost would be? - correct answer- monthly
What is an insurance policy grace period? - correct answer-
Period of time after the premium is due but the policy remains
in force
A Non contributory health insurance plan helps the insurer
avoid? - correct answer- adverse selection
,2 | Page
Twisting is best defined as - correct answer- Using
misrepresentation to induce an insured person to terminate an
existing policy and purchase a new policy
The cause of a loss is referred to as a(n) - correct answer- peril
Which of these statements regarding the annuitant is
CORRECT? - correct answer- The annuitant's life expectancy
determines the annuity payments.
a provision in a whole life policy that allows a policy owner to
terminate the policy in return for a reduced paid-up policy of the
same type is called a(n) - correct answer- nonforfeiture
provision
Which of the following is not a required provision in an accident
and health insurance policy? - correct answer- change of
occupation
A disability income policy can prevent an insured from earning
a higher income than if she/he were working by utilizing? -
correct answer- benefit limits
, 3 | Page
Which of the following is the BEST example of insurance fraud?
- correct answer- A deliberate lie by an insured to the insurer to
obtain a lower premium.
Long-term care policies may provide coverage from claims
arising from? - correct answer- Senile dementia
Who assumes the investment risk with a fixed annuity contract?
- correct answer- The insurer
A life insurance REPLACEMENT transaction gives the
policyowner the right to return the policy for a 100% refund
within ______ days of policy deliverer. - correct answer- 30
A life insurance rider that allows an individual to purchase
insurance as they grow older, regardless of insurability is called
a(n) ? - correct answer- guaranteed insurability rider
A health insurance policy where the insurer has the right to
terminate the policy for reasons other than the insured health is
called? - correct answer- Conditionally Renewable
