Study Guide for Actual Final Exam - South Carolina Life and Health Insurance 2024

Study Guide for Actual Final Exam - South Carolina Life and Health Insurance 2024 The branch of dentistry which deals with the replacement of missing parts is called Endodontics Periodontics Orthodontics Prosthodontics - CORRECT ANSWER-Prosthodontics How many months can a life insurance policy normally be backdated from the date of application? 3 6 9 12 - CORRECT ANSWER-6 HIPAA considers which of the following as "individually identifiable health information"? - CORRECT ANSWER-A person's health claim information Which of the following is NOT taken into consideration when determining eligibility for Medicare benefits? - CORRECT ANSWER-Income What is the primary factor that determines the benefits paid under a disability income policy? - CORRECT ANSWER-wages All of the following are functions of an insuring clause EXCEPT - CORRECT ANSWERPrimarily describes the free-look period The Fair Credit and Reporting Act's main purpose is to - CORRECT ANSWER-protect consumers with guidelines regarding credit reporting and distribution What is known as the immediate specific event causing loss and giving rise to risk? - CORRECT ANSWER-Peril Mary is issued an initial producer's license on April 29, 2012. Her birthdate is March 14, 1980. When does her license renew? - CORRECT ANSWER-March 31, 2014 Which approach predicts a person's earning potential and determines how much of that amount would be devoted to dependents? - CORRECT ANSWER-Human life value approach In South Carolina, which of the following statements is TRUE regarding a licensed individual changing his or her legal name? - CORRECT ANSWER-The producer must notify the Department upon changing his or her legal name Which settlement option involves having the proceeds remain with the insurer and earnings paid on a monthly basis to the beneficiary? - CORRECT ANSWER-interest only What would happen if a life insurance applicant is given a conditional receipt from an insurance agent and then dies the next day? - CORRECT ANSWER-Claim will be paid if application is approved