NC CERTIFICATION EXAM - LIFE AND HEALTH
(MISSED QUESTIONS) EXAM WITH ACTUAL
QUESTIONS & 100% VERIFIED CORRECT ANSWERS
(GRADED A+) 100% GUARANTEED SUCCESS
Bill is a retired military officer suffering from complications caused by Agent
Orange exposure during his military service. He incurs $54, 510 in medical
expenses during hospitalization at the local Veterans Administration Hospital. The
private health insurance he now owns will likely pay:
A Nothing
B $27,255
C $13,627.50
D $54,510 - CORRECT ANSWER ✔✔- A Nothing
A person must be at least ______ years of age to enter into an insurance contract or
an annuity.
A 15
B 17
C 16
D 18 - CORRECT ANSWER ✔✔- A 15
Universal Life provides for an increasing death benefit only if the applicant
chooses:
A To include an inflation rider at the time of application
B Death Benefit Option B
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,C To add an increasing term rider to the policy
D A return of premium rider to the plan - CORRECT ANSWER ✔✔- B Death
Benefit Option B
All of the following are benefits an annuity can provide that other investment or
savings products cannot, except:
A Guaranteed minimum withdrawal benefit
B Guaranteed minimum death benefit
C Tax-free distributions
D Income benefit payments that cannot be outlived - CORRECT ANSWER ✔✔-
C Tax-free distributions
An insurer NOT authorized to do business within this state is considered what type
of insurer?
A Domestic
B Non-Admitted
C Alien
D Foreign - CORRECT ANSWER ✔✔- B Non-Admitted
Which of the following is the reason why premiums paid on personal life insurance
are not deductible?
A They rarely exceed 10% of a taxpayer's AGI
B They are considered a personal expense
C They are considered to produce a guaranteed source of income
D It makes the deductibility of employer-paid premiums more attractive -
CORRECT ANSWER ✔✔- B They are considered a personal expense
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, Insurers include provisions in contracts to help reduce unnecessary claims and the
overpayment of claims. Which of the following is not one of those provisions?
A Mandatory Second Surgical Option
B Concurrent Review
C Consideration Clause
D Ambulatory Services - CORRECT ANSWER ✔✔- C Consideration Clause
A Variable Universal Life (VUL) is a combination of:
A Term and Whole Life
B Universal and Variable Life
C Term and Universal Life
D Whole Life and Variable Life - CORRECT ANSWER ✔✔- B Universal and
Variable Life
Victor, age 59, calculated last year's gross income to be $100,000. When reviewing
the cost of his various personal insurance policies, he found that his disability
income policy annual premium was $3,500, his long-term care insurance annual
premium was $4,000, and the total annual cost of his individual Medical insurance
premiums and out-of-pocket medical expenses came to $5,500. Based on this
information, he could deduct ______ from his taxable income for that year.
A $9,500
B Zero
C $3,000
D $5,500 - CORRECT ANSWER ✔✔- B Zero
While the total amount calculated is over 10%, part of that total refers to disability
insurance premiums, which are not deductible. Without that amount, the other
expenses add up to $9,500, which is below the threshold for deductibility.
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(MISSED QUESTIONS) EXAM WITH ACTUAL
QUESTIONS & 100% VERIFIED CORRECT ANSWERS
(GRADED A+) 100% GUARANTEED SUCCESS
Bill is a retired military officer suffering from complications caused by Agent
Orange exposure during his military service. He incurs $54, 510 in medical
expenses during hospitalization at the local Veterans Administration Hospital. The
private health insurance he now owns will likely pay:
A Nothing
B $27,255
C $13,627.50
D $54,510 - CORRECT ANSWER ✔✔- A Nothing
A person must be at least ______ years of age to enter into an insurance contract or
an annuity.
A 15
B 17
C 16
D 18 - CORRECT ANSWER ✔✔- A 15
Universal Life provides for an increasing death benefit only if the applicant
chooses:
A To include an inflation rider at the time of application
B Death Benefit Option B
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,C To add an increasing term rider to the policy
D A return of premium rider to the plan - CORRECT ANSWER ✔✔- B Death
Benefit Option B
All of the following are benefits an annuity can provide that other investment or
savings products cannot, except:
A Guaranteed minimum withdrawal benefit
B Guaranteed minimum death benefit
C Tax-free distributions
D Income benefit payments that cannot be outlived - CORRECT ANSWER ✔✔-
C Tax-free distributions
An insurer NOT authorized to do business within this state is considered what type
of insurer?
A Domestic
B Non-Admitted
C Alien
D Foreign - CORRECT ANSWER ✔✔- B Non-Admitted
Which of the following is the reason why premiums paid on personal life insurance
are not deductible?
A They rarely exceed 10% of a taxpayer's AGI
B They are considered a personal expense
C They are considered to produce a guaranteed source of income
D It makes the deductibility of employer-paid premiums more attractive -
CORRECT ANSWER ✔✔- B They are considered a personal expense
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, Insurers include provisions in contracts to help reduce unnecessary claims and the
overpayment of claims. Which of the following is not one of those provisions?
A Mandatory Second Surgical Option
B Concurrent Review
C Consideration Clause
D Ambulatory Services - CORRECT ANSWER ✔✔- C Consideration Clause
A Variable Universal Life (VUL) is a combination of:
A Term and Whole Life
B Universal and Variable Life
C Term and Universal Life
D Whole Life and Variable Life - CORRECT ANSWER ✔✔- B Universal and
Variable Life
Victor, age 59, calculated last year's gross income to be $100,000. When reviewing
the cost of his various personal insurance policies, he found that his disability
income policy annual premium was $3,500, his long-term care insurance annual
premium was $4,000, and the total annual cost of his individual Medical insurance
premiums and out-of-pocket medical expenses came to $5,500. Based on this
information, he could deduct ______ from his taxable income for that year.
A $9,500
B Zero
C $3,000
D $5,500 - CORRECT ANSWER ✔✔- B Zero
While the total amount calculated is over 10%, part of that total refers to disability
insurance premiums, which are not deductible. Without that amount, the other
expenses add up to $9,500, which is below the threshold for deductibility.
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