NC Insurance Licensing Exam Questions & Answers Graded A

P is a producer who notices 5 questions on a life application were not answered. What actions should P take? - ANSWER-Set up a meeting with the applicant to answer the remaining questions Which of the following does Social Security NOT provide benefits for? - ANSWER-Dismemberment An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums - ANSWER-10 Under a Renewable Term policy, - ANSWER-the renewable premium is calculated on the basis of the insured's attained age Which of the following BEST describes a short-term medical expense policy? - ANSWER-Nonrenewable W is a 39-year old female who just purchased an annuity to provide income for life starting at age 60. All of these would be acceptable annuity choices EXCEPT a(n) - ANSWER-Immediate annuity How are Roth IRA distributions normally taxed? - ANSWER-Distributions are received tax-free An insurance applicant was recently denied insurance coverage. The applicant is requesting access from the insurer to recorded personal information regarding this decision. Under the Information and Privacy Protection Act, the insurer MUST make the information available within ___ business days - ANSWER-30 What is a warranty? - ANSWER-is a statement guaranteed to be true S is a life insurance policyowner and enters into a written agreement to receive immediate cash in exchange for the sale and transfer of her life insurance policy. This agreement is referred to as a(n) - ANSWER-Viatical Settlement