1
NC LIFE INSURANCE EXAM PREP ACTUAL
QUESTIONS AND CORRECT ANSWERS ALREADY
GRADED A+ LATEST UPDATES GUARANTEED
SUCCESS
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy?
If the primary beneficiary dies before the insured
A person is required to be AT LEAST how old before he or she is licensed as an
agent in NC?
18
Which of the following is an element of a Variable Life policy?
A fixed, level premium
Insurance agents MUST obtain a license from NC's
Commissioner of Insurance
Which type of life policy contains a monthly mortality charge as well as self-
directed investment choices?
Variable Universal Life
Which of these is NOT a type of agent authority?
Principal; express, implied, and apparent
In a life insurance policy, which feature states that the policy will not cover certain
risks?
, 2
Exclusion
Whole Life insurance are contractually guaranteed to provide each of the following
EXCEPT?
Partial withdrawal features beyond a surrender charge period
A term life insurance policy matures
Upon the insured's death during the term of the policy
Which of these provisions require proof of insurability after a policy has lapsed?
Reinstatement
How does a typical Variable Life Policy Investment account grow?
Through mutual funds, stocks, and bonds
Circulation of any oral or written statement or any pamphlet, circular, article or
literature that is false or maliciously critical of or derogatory to the financial
condition of an insurer is known as
Defamation
All of the following are considered characteristics describing the nature of an
insurance contract EXCEPT
Bilateral
A 15-year mortgage is best protected by what kind of life policy?
15-year decreasing term
Companies in NC may transact solicitations for insurance ONLY through
Licensed agents
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy?
If the primary beneficiary dies before the insured
Which of the following is an element of a Variable Life policy?
A fixed, level premium
Insurance agents MUST obtain a license from NC's
, 3
Commissioner of Insurance
Which type of life policy contains a monthly mortality charge as well as self-
directed investment choices?
Variable Universal Life
Which of these is NOT a type of agent authority?
Principal; express, implied, and apparent
When does a Guaranteed Insurability Rider allow the insured to buy additional
coverage?
At future dates specified in the contract with no evidence of insurability required
T, age 70, withdrawals cash from a profit-sharing plan and purchases a Straight
Life Annuity. What will this transaction provide?
Income that cannot be outlived by the owner
A level premium indicates
The premium is fixed for the entire duration of the contract
K has a life insurance policy where her husband is beneficiary and her daughter is
contingent beneficiary. Under the Common Disaster clause, if K and her husband
are both killed in an automobile accident, where would the death proceeds be
directed?
Daughter
Which of the following statements is correct about the period in which a Term
Policy can be converted?
It can be changed by the insured
What group term life feature permits an individual to depart from the group and
continue to be converted without providing evidence of insurability?
Conversion
An insured covered by life insurance has just died. What will happen if the primary
beneficiary had already died before the insured and contingent beneficiary?
Proceed will go to the contingent beneficiary
NC LIFE INSURANCE EXAM PREP ACTUAL
QUESTIONS AND CORRECT ANSWERS ALREADY
GRADED A+ LATEST UPDATES GUARANTEED
SUCCESS
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy?
If the primary beneficiary dies before the insured
A person is required to be AT LEAST how old before he or she is licensed as an
agent in NC?
18
Which of the following is an element of a Variable Life policy?
A fixed, level premium
Insurance agents MUST obtain a license from NC's
Commissioner of Insurance
Which type of life policy contains a monthly mortality charge as well as self-
directed investment choices?
Variable Universal Life
Which of these is NOT a type of agent authority?
Principal; express, implied, and apparent
In a life insurance policy, which feature states that the policy will not cover certain
risks?
, 2
Exclusion
Whole Life insurance are contractually guaranteed to provide each of the following
EXCEPT?
Partial withdrawal features beyond a surrender charge period
A term life insurance policy matures
Upon the insured's death during the term of the policy
Which of these provisions require proof of insurability after a policy has lapsed?
Reinstatement
How does a typical Variable Life Policy Investment account grow?
Through mutual funds, stocks, and bonds
Circulation of any oral or written statement or any pamphlet, circular, article or
literature that is false or maliciously critical of or derogatory to the financial
condition of an insurer is known as
Defamation
All of the following are considered characteristics describing the nature of an
insurance contract EXCEPT
Bilateral
A 15-year mortgage is best protected by what kind of life policy?
15-year decreasing term
Companies in NC may transact solicitations for insurance ONLY through
Licensed agents
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy?
If the primary beneficiary dies before the insured
Which of the following is an element of a Variable Life policy?
A fixed, level premium
Insurance agents MUST obtain a license from NC's
, 3
Commissioner of Insurance
Which type of life policy contains a monthly mortality charge as well as self-
directed investment choices?
Variable Universal Life
Which of these is NOT a type of agent authority?
Principal; express, implied, and apparent
When does a Guaranteed Insurability Rider allow the insured to buy additional
coverage?
At future dates specified in the contract with no evidence of insurability required
T, age 70, withdrawals cash from a profit-sharing plan and purchases a Straight
Life Annuity. What will this transaction provide?
Income that cannot be outlived by the owner
A level premium indicates
The premium is fixed for the entire duration of the contract
K has a life insurance policy where her husband is beneficiary and her daughter is
contingent beneficiary. Under the Common Disaster clause, if K and her husband
are both killed in an automobile accident, where would the death proceeds be
directed?
Daughter
Which of the following statements is correct about the period in which a Term
Policy can be converted?
It can be changed by the insured
What group term life feature permits an individual to depart from the group and
continue to be converted without providing evidence of insurability?
Conversion
An insured covered by life insurance has just died. What will happen if the primary
beneficiary had already died before the insured and contingent beneficiary?
Proceed will go to the contingent beneficiary
