1 | Page
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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
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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
|
ANon 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
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, 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
| | | | | |
| | | | | |
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
|
ANon 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
| | | | | |
