NC Life Insurance Exam Prep Study Guide Questions and Answers 2026 2027 2/21/2026
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NC Life Insurance Exam Prep Study Guide Questions
and Answers 2026 2027
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_Page 1 NC Life Insurance Exam Prep Study Guide Questions and Answers 2026 2027.pdf
,NC Life Insurance Exam Prep 2/21/2026
An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner
A policy summary and buyer's guide
All of the following actions are considered rebating EXCEPT
Sharing commissions with other licensed and appointed agents
What benefit does the Payor Clause on a Juvenile Life Policy provide?
Premiums are waived if payor becomes disabled
An agent who signs a blank contract application or policy of insurance
Is guilty of a misdemeanor
A person is required to be AT LEAST how old before he or she is licensed as an agent in NC?
18
Page 2 NC Life Insurance Exam Prep.pdf
,NC Life Insurance Exam Prep 2/21/2026
In a life insurance policy, which feature states that the policy will not cover certain risks?
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
Page 3 NC Life Insurance Exam Prep.pdf
, NC Life Insurance Exam Prep 2/21/2026
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
Which of these retirement plans can be started by an employee, even if another plan is in existence
Individual Retirement Account (IRA)
Page 4 NC Life Insurance Exam Prep.pdf
*)#u)()@$+((+_@$_@+_)$$+_)+_$@)$@+_)@++)$+_$@)+_$)+_$$+_+_@$+_)
NC Life Insurance Exam Prep Study Guide Questions
and Answers 2026 2027
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_Page 1 NC Life Insurance Exam Prep Study Guide Questions and Answers 2026 2027.pdf
,NC Life Insurance Exam Prep 2/21/2026
An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner
A policy summary and buyer's guide
All of the following actions are considered rebating EXCEPT
Sharing commissions with other licensed and appointed agents
What benefit does the Payor Clause on a Juvenile Life Policy provide?
Premiums are waived if payor becomes disabled
An agent who signs a blank contract application or policy of insurance
Is guilty of a misdemeanor
A person is required to be AT LEAST how old before he or she is licensed as an agent in NC?
18
Page 2 NC Life Insurance Exam Prep.pdf
,NC Life Insurance Exam Prep 2/21/2026
In a life insurance policy, which feature states that the policy will not cover certain risks?
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
Page 3 NC Life Insurance Exam Prep.pdf
, NC Life Insurance Exam Prep 2/21/2026
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
Which of these retirement plans can be started by an employee, even if another plan is in existence
Individual Retirement Account (IRA)
Page 4 NC Life Insurance Exam Prep.pdf
