North Carolina Life and Health Final Exam Questions with Verified and Updated Answers

North Carolina Life and Health Final Exam Questions with Verified and Updated Answers A Disability Income policy owner suffers a disability which was due to the same cause as a previous disability. Both disabilities occurred within a five-month period. The insurer may cover the second disability without a new elimination period under the - Answer Recurrent Disability provision A person is required to be AT LEAST how old before he or she is licensed as an agent in North Carolina? - Answer 18 A person who is insured within a group contract will be given a - Answer certificate A policyowner is able to choose the frequency of premium payments through what policy feature? - Answer Premium Mode A vacancy that occurs during the North Carolina Commissioner of Insurance's term of office MUST be filled by the - Answer Governor A written agreement to provide a Life Insurance Policy holder immediate cash in exchange for the sale and transfer of a Life Insurance Policy is a - Answer Viatical Settlement According to the Information and Privacy Protection Act, when access to recorded personal information is requested following an adverse underwriting decision, the insurer must make the information available within how many business days? - Answer 30 According to the Time Payment of Claims provision, the insurer must pay Disability Income benefits no less frequently than which of the following options? - Answer Monthly Additional coverage can be added to a Whole Life policy by adding a(n) - Answer decreasing term rider All of the following actions are considered rebating EXCEPT - Answer sharing commissions with other licensed and appointed agents All of the following are limited benefit plans EXCEPT - Answer life insurance policies An accident policy will most likely pay a benefit for a(n) - Answer off-the-job accident An agent that has been or is engaged in conduct that violates the Insurance Information and Privacy Protection Act shall be issued and served a statement of charges and notice of hearing by the Commissioner of Insurance. The date of such hearing shall be AT LEAST how many days after service of charges? - Answer 10 An agent who sells an individual life insurance policy in North Carolina MUST deliver to the policyowner - Answer A Policy Summary and Buyer's Guide An agent who signs a blank contract application or policy of insurance - Answer is guilty of a misdemeanor