SOUTH CAROLINA LIFE AND HEALTH
INSURANCE 2025 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
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
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
The authority granted to a licensed producer is provided via the
- correct answer- Law of agency
An individual who removes the risk of losing money in the stock market by
never purchasing stocks is said to be engaging in - correct answer- Risk
Avoidance
Which of the following statements regarding group disability income
insurance is TRUE? - correct answer- it provides benefits for
nonoccupationally illnesses and injuries.
INSURANCE 2025 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
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
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
The authority granted to a licensed producer is provided via the
- correct answer- Law of agency
An individual who removes the risk of losing money in the stock market by
never purchasing stocks is said to be engaging in - correct answer- Risk
Avoidance
Which of the following statements regarding group disability income
insurance is TRUE? - correct answer- it provides benefits for
nonoccupationally illnesses and injuries.
