Questions & Correct Detailed Answers (100%
_____________Quiz____________?
An agent who sells an individual life insurance policy in NC MUST deliver to the
policyowner -
Answer✓✓
A policy summary and buyer's guide
_____________Quiz____________?
All of the following actions are considered rebating EXCEPT -
Answer✓✓
Sharing commissions with other licensed and appointed agents
_____________Quiz____________?
What benefit does the Payor Clause on a Juvenile Life Policy provide? -
Answer✓✓
Premiums are waived if payor becomes disabled
_____________Quiz____________?
An agent who signs a blank contract application or policy of insurance -
Answer✓✓
Is guilty of a misdemeanor
_____________Quiz____________?
1
, A person is required to be AT LEAST how old before he or she is licensed as an agent in
NC? -
Answer✓✓
18
_____________Quiz____________?
In a life insurance policy, which feature states that the policy will not cover certain risks? -
Answer✓✓
Exclusion
_____________Quiz____________?
Whole Life insurance are contractually guaranteed to provide each of the following
EXCEPT? -
Answer✓✓
Partial withdrawal features beyond a surrender charge period
_____________Quiz____________?
A term life insurance policy matures -
Answer✓✓
Upon the insured's death during the term of the policy
_____________Quiz____________?
Which of these provisions require proof of insurability after a policy has lapsed? -
Answer✓✓
Reinstatement
_____________Quiz____________?
How does a typical Variable Life Policy Investment account grow? -
Answer✓✓
2
, Through mutual funds, stocks, and bonds
_____________Quiz____________?
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 -
Answer✓✓
Defamation
_____________Quiz____________?
All of the following are considered characteristics describing the nature of an insurance
contract EXCEPT -
Answer✓✓
Bilateral
_____________Quiz____________?
A 15-year mortgage is best protected by what kind of life policy? -
Answer✓✓
15-year decreasing term
_____________Quiz____________?
Companies in NC may transact solicitations for insurance ONLY through -
Answer✓✓
Licensed agents
_____________Quiz____________?
Which of these retirement plans can be started by an employee, even if another plan is in
existence -
Answer✓✓
Individual Retirement Account (IRA)
3
, _____________Quiz____________?
A life policy with a death benefit that can fluctuate according to the performance of its
underlying investment portfolio is referred to as -
Answer✓✓
Variable life
_____________Quiz____________?
If an annuity is terminated prior to the beginning of the income payment period, the
contract owner receives -
Answer✓✓
The contract surrender value at that time
_____________Quiz____________?
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 -
Answer✓✓
Policy Loan Provision
_____________Quiz____________?
When does a Guaranteed Insurability Rider allow the insured to buy additional coverage? -
Answer✓✓
At future dates specified in the contract with no evidence of insurability required
_____________Quiz____________?
T, age 70, withdrawals cash from a profit-sharing plan and purchases a Straight Life Annuity.
What will this transaction provide? -
Answer✓✓
Income that cannot be outlived by the owner
4
_____________Quiz____________?
An agent who sells an individual life insurance policy in NC MUST deliver to the
policyowner -
Answer✓✓
A policy summary and buyer's guide
_____________Quiz____________?
All of the following actions are considered rebating EXCEPT -
Answer✓✓
Sharing commissions with other licensed and appointed agents
_____________Quiz____________?
What benefit does the Payor Clause on a Juvenile Life Policy provide? -
Answer✓✓
Premiums are waived if payor becomes disabled
_____________Quiz____________?
An agent who signs a blank contract application or policy of insurance -
Answer✓✓
Is guilty of a misdemeanor
_____________Quiz____________?
1
, A person is required to be AT LEAST how old before he or she is licensed as an agent in
NC? -
Answer✓✓
18
_____________Quiz____________?
In a life insurance policy, which feature states that the policy will not cover certain risks? -
Answer✓✓
Exclusion
_____________Quiz____________?
Whole Life insurance are contractually guaranteed to provide each of the following
EXCEPT? -
Answer✓✓
Partial withdrawal features beyond a surrender charge period
_____________Quiz____________?
A term life insurance policy matures -
Answer✓✓
Upon the insured's death during the term of the policy
_____________Quiz____________?
Which of these provisions require proof of insurability after a policy has lapsed? -
Answer✓✓
Reinstatement
_____________Quiz____________?
How does a typical Variable Life Policy Investment account grow? -
Answer✓✓
2
, Through mutual funds, stocks, and bonds
_____________Quiz____________?
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 -
Answer✓✓
Defamation
_____________Quiz____________?
All of the following are considered characteristics describing the nature of an insurance
contract EXCEPT -
Answer✓✓
Bilateral
_____________Quiz____________?
A 15-year mortgage is best protected by what kind of life policy? -
Answer✓✓
15-year decreasing term
_____________Quiz____________?
Companies in NC may transact solicitations for insurance ONLY through -
Answer✓✓
Licensed agents
_____________Quiz____________?
Which of these retirement plans can be started by an employee, even if another plan is in
existence -
Answer✓✓
Individual Retirement Account (IRA)
3
, _____________Quiz____________?
A life policy with a death benefit that can fluctuate according to the performance of its
underlying investment portfolio is referred to as -
Answer✓✓
Variable life
_____________Quiz____________?
If an annuity is terminated prior to the beginning of the income payment period, the
contract owner receives -
Answer✓✓
The contract surrender value at that time
_____________Quiz____________?
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 -
Answer✓✓
Policy Loan Provision
_____________Quiz____________?
When does a Guaranteed Insurability Rider allow the insured to buy additional coverage? -
Answer✓✓
At future dates specified in the contract with no evidence of insurability required
_____________Quiz____________?
T, age 70, withdrawals cash from a profit-sharing plan and purchases a Straight Life Annuity.
What will this transaction provide? -
Answer✓✓
Income that cannot be outlived by the owner
4
