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SOUTH CAROLINA EXAMS COMPILATION BUNDLE 2024/2025
SOUTH CAROLINA EXAMS COMPILATION BUNDLE 2024/2025
[ Mehr anzeigen ]SOUTH CAROLINA EXAMS COMPILATION BUNDLE 2024/2025
[ Mehr anzeigen ]An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? 
Inflation protection 
 
 
 
Which of these riders will pay a death benefit if the insured's spouse dies? 
Family term insurance rider 
 
 
 
 
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Nex...
Vorschau 2 aus 10 Seiten
In den EinkaufswagenAn insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? 
Inflation protection 
 
 
 
Which of these riders will pay a death benefit if the insured's spouse dies? 
Family term insurance rider 
 
 
 
 
Brainpower 
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Nex...
The balance of the loan will be taken out of the death benefit 
If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? 
 
 
 
Inspection Report 
An insurer receives a report regarding potential insured that includes financial status, hobbies, and h...
Vorschau 3 aus 24 Seiten
In den EinkaufswagenThe balance of the loan will be taken out of the death benefit 
If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? 
 
 
 
Inspection Report 
An insurer receives a report regarding potential insured that includes financial status, hobbies, and h...
Abandonment 
the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
 
 
Absolute Liability 
Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example...
Vorschau 3 aus 18 Seiten
In den EinkaufswagenAbandonment 
the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
 
 
Absolute Liability 
Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example...
Annuity Certain 
Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called 
 
 
 
Survivorship Life 
The type of policy which pays on the death of the last person is called 
 
 
 
 
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Vorschau 2 aus 10 Seiten
In den EinkaufswagenAnnuity Certain 
Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called 
 
 
 
Survivorship Life 
The type of policy which pays on the death of the last person is called 
 
 
 
 
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The branch of dentistry which deals with the replacement of missing parts is called 
 
Endodontics 
Periodontics 
Orthodontics 
Prosthodontics 
Prosthodontics 
 
 
 
How many months can a life insurance policy normally be backdated from the date of application? 
 
 
3 
6 
9 
12 
6 
 
 
 
 
Brainpowe...
Vorschau 2 aus 15 Seiten
In den EinkaufswagenThe branch of dentistry which deals with the replacement of missing parts is called 
 
Endodontics 
Periodontics 
Orthodontics 
Prosthodontics 
Prosthodontics 
 
 
 
How many months can a life insurance policy normally be backdated from the date of application? 
 
 
3 
6 
9 
12 
6 
 
 
 
 
Brainpowe...
Resident Licensing Requirements 
1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
 
 
Nonresident Licensing Requirements ...
Vorschau 2 aus 11 Seiten
In den EinkaufswagenResident Licensing Requirements 
1. Be licensed as a resident property and casualty insurance producer. 
2. Pass the SC broker licensing examination with 70% or better. 
3. Pay a biennial fee of $200 
4. File surety bond in favor of SC in amount of $10,000. 
 
 
 
Nonresident Licensing Requirements ...
The SC Director of Insurance is 
Appointed 
 
 
 
The Director must be approved by the 
South Carolina Senate 
 
 
 
 
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The Director has the same powers as a 
Circuit Court Jud...
Vorschau 2 aus 6 Seiten
In den EinkaufswagenThe SC Director of Insurance is 
Appointed 
 
 
 
The Director must be approved by the 
South Carolina Senate 
 
 
 
 
Brainpower 
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The Director has the same powers as a 
Circuit Court Jud...
Abandonment 
the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
 
 
Absolute Liability 
Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example...
Vorschau 3 aus 18 Seiten
In den EinkaufswagenAbandonment 
the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
 
 
Absolute Liability 
Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example...
Part A 
Hospital Insurance, helps pay for inpatient hospital care, inpatient care in a skilled nursing facility, home health care and hospice care 
 
 
 
Part B 
Medical Insurance, financed from monthly premiums paid by insureds and from the general revenues of the federal government 
 
 
 
 
Brainp...
Vorschau 2 aus 5 Seiten
In den EinkaufswagenPart A 
Hospital Insurance, helps pay for inpatient hospital care, inpatient care in a skilled nursing facility, home health care and hospice care 
 
 
 
Part B 
Medical Insurance, financed from monthly premiums paid by insureds and from the general revenues of the federal government 
 
 
 
 
Brainp...
The process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? 
Underwriting 
 
 
 
The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible for the ...
Vorschau 3 aus 17 Seiten
In den EinkaufswagenThe process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? 
Underwriting 
 
 
 
The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible for the ...
6 loss valuation methods 
actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value 
 
 
 
waiver & estoppel 
a person has given up a known or legal right 
 
 
 
 
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Vorschau 2 aus 11 Seiten
In den Einkaufswagen6 loss valuation methods 
actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value 
 
 
 
waiver & estoppel 
a person has given up a known or legal right 
 
 
 
 
Brainpower 
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Accumulated Depreciation 
The total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J 
 
 
 
Acreage Reporting Date 
The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and t...
Vorschau 3 aus 26 Seiten
In den EinkaufswagenAccumulated Depreciation 
The total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J 
 
 
 
Acreage Reporting Date 
The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and t...
A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay 
100% of the billed amount 
 
 
 
What does Coordination of Benefits allow? 
Allows the secondary payor to reduce their benefit payme...
Vorschau 2 aus 15 Seiten
In den EinkaufswagenA closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay 
100% of the billed amount 
 
 
 
What does Coordination of Benefits allow? 
Allows the secondary payor to reduce their benefit payme...
Abandonment Condition 
A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. 
 
 
 
Absolute Liability 
Type of liability imposed by law on those participating in certain ...
Vorschau 3 aus 19 Seiten
In den EinkaufswagenAbandonment Condition 
A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. 
 
 
 
Absolute Liability 
Type of liability imposed by law on those participating in certain ...
South Carolina Motor Vehicle Financial Responsibility Act 
Requires that all automobile drivers be able to show proof that they can pay for damages done to others up to a minimum amount if involved in an accident 
 
 
 
Required auto limits 
25000/50000 for bodily injury and 25000 for property damag...
Vorschau 2 aus 5 Seiten
In den EinkaufswagenSouth Carolina Motor Vehicle Financial Responsibility Act 
Requires that all automobile drivers be able to show proof that they can pay for damages done to others up to a minimum amount if involved in an accident 
 
 
 
Required auto limits 
25000/50000 for bodily injury and 25000 for property damag...
Assisted Living 
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? 
 
 
 
$4,000 ($100,000 x.04) 
Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has ...
Vorschau 2 aus 14 Seiten
In den EinkaufswagenAssisted Living 
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? 
 
 
 
$4,000 ($100,000 x.04) 
Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has ...
Producer 
Independent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. 
 
 
 
resident producer 
An agent who holds an insurance license in the state in which they live 
 
 
 
 
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Vorschau 3 aus 28 Seiten
In den EinkaufswagenProducer 
Independent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. 
 
 
 
resident producer 
An agent who holds an insurance license in the state in which they live 
 
 
 
 
Brainpower 
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