Final Exam - North Carolina Life and Health
questions with complete solutions
1. Which of the following is the MOST
important factor when deciding how much
Disability Income coverage an applicant
should purchase?
2. M completes an application for life insurance but free-look period has
expired
does not pay the initial premium. All of
these ac- tions must occur before M's policy
goes into effect EXCEPT
3. Additional coverage can be added to a Whole Life decreasing term
rider
policy by adding a(n)
4. All of the following actions are considered sharing commissions with
rebat- ing EXCEPT
other licensed and appointed
agents
5. One of the stated purposes of the Life and Health assist in the
prevention of insurer
Insurance Guaranty Association is to insolvencies
6. Which of the following statements is It varies according to the con- tracts
CORRECT about the period in which a Term
Policy can be converted?
Commissioner of Insurance
7. Insurance agents MUST obtain a license
from North Carolina's
8. An accident policy will most likely pay a benefit for ott-the-job
accident
a(n)
1/
39
,Final Exam - North Carolina Life and Health
questions with complete solutions
9. K becomes ill after traveling overseas and is Disability Income
un- able to work for 3 months. What
kind of policy would cover her loss of
income?
10. K has a health policy that must be renewed by the guaranteed
renewable
insurer and the premiums can only be increased
2/
39
,Final Exam - North Carolina Life and Health
questions with complete solutions
if applied to the entire class of insureds. This whole life
type of policy is considered insurance
policy. Which of
11. M's insurance company denied a the following
reinstatement application for her lapsed types of
health insurance policy. The company did policies will
not notify M of this denial. How many days provide the
from the reinstatement application date most rapid
does the insurance company have to growth of cash
notify M of the denial before the policy will value?
be automat- ically placed back in force?
12. B is a teacher who was injured in a car
accident and cannot work. She is now
receiving monthly benefits as a result of
this accident. Which type of policy does B
have?
13. Which of the following services is NOT
covered under a hospitalization
expense policy?
14. Statements made on an insurance
application that are believed to be true
to the best of the applicant's
knowledge are called
15. Rick recently died and left behind an
individual IRA account in his name. His
widow was forward- ed the balance of the
IRA. The widow qualifies for the
16. J is 35-years old and looking to purchase a
3/
39
, Final Exam - North Carolina Life and Health
questions with complete solutions
45 days
Disability Income
surgeon's fees
representations
marital deduction
20-pay Life
4/
39
questions with complete solutions
1. Which of the following is the MOST
important factor when deciding how much
Disability Income coverage an applicant
should purchase?
2. M completes an application for life insurance but free-look period has
expired
does not pay the initial premium. All of
these ac- tions must occur before M's policy
goes into effect EXCEPT
3. Additional coverage can be added to a Whole Life decreasing term
rider
policy by adding a(n)
4. All of the following actions are considered sharing commissions with
rebat- ing EXCEPT
other licensed and appointed
agents
5. One of the stated purposes of the Life and Health assist in the
prevention of insurer
Insurance Guaranty Association is to insolvencies
6. Which of the following statements is It varies according to the con- tracts
CORRECT about the period in which a Term
Policy can be converted?
Commissioner of Insurance
7. Insurance agents MUST obtain a license
from North Carolina's
8. An accident policy will most likely pay a benefit for ott-the-job
accident
a(n)
1/
39
,Final Exam - North Carolina Life and Health
questions with complete solutions
9. K becomes ill after traveling overseas and is Disability Income
un- able to work for 3 months. What
kind of policy would cover her loss of
income?
10. K has a health policy that must be renewed by the guaranteed
renewable
insurer and the premiums can only be increased
2/
39
,Final Exam - North Carolina Life and Health
questions with complete solutions
if applied to the entire class of insureds. This whole life
type of policy is considered insurance
policy. Which of
11. M's insurance company denied a the following
reinstatement application for her lapsed types of
health insurance policy. The company did policies will
not notify M of this denial. How many days provide the
from the reinstatement application date most rapid
does the insurance company have to growth of cash
notify M of the denial before the policy will value?
be automat- ically placed back in force?
12. B is a teacher who was injured in a car
accident and cannot work. She is now
receiving monthly benefits as a result of
this accident. Which type of policy does B
have?
13. Which of the following services is NOT
covered under a hospitalization
expense policy?
14. Statements made on an insurance
application that are believed to be true
to the best of the applicant's
knowledge are called
15. Rick recently died and left behind an
individual IRA account in his name. His
widow was forward- ed the balance of the
IRA. The widow qualifies for the
16. J is 35-years old and looking to purchase a
3/
39
, Final Exam - North Carolina Life and Health
questions with complete solutions
45 days
Disability Income
surgeon's fees
representations
marital deduction
20-pay Life
4/
39
