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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
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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
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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)
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A life policy with a death benefit that can fluctuate according to the performance of its underlying investment
portfolio is referred to as
Variable life
If an annuity is terminated prior to the beginning of the income payment period, the contract owner receives
The contract surrender value at that time
A provision in a life insurance policy that pays the policy owner an amount that doesn't surpass the guaranteed
cash value is called the
Policy Loan Provision
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
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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
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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
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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)
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A life policy with a death benefit that can fluctuate according to the performance of its underlying investment
portfolio is referred to as
Variable life
If an annuity is terminated prior to the beginning of the income payment period, the contract owner receives
The contract surrender value at that time
A provision in a life insurance policy that pays the policy owner an amount that doesn't surpass the guaranteed
cash value is called the
Policy Loan Provision
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
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