NC STATE LIFE INSURANCE EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

NC STATE LIFE INSURANCE EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Insurable Interest - Answer -Something of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - Answer -Wrong person takes medical examination/test in connection with application for insurance. **Can be contested beyond 2 year incontestable clause** Adhesion - Answer -Ins. Co. designs original contract. Insured has little or no control of content, no room for bargaining, no negotiations. Insured must take it or leave it. Indemnity - Answer -Person restored to original condition he/she enjoyed prior to loss. Does not profit a gain from the insurance.Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: Aleatory - Answer -Ins. contract is "out of balance". Insured or bene might receive much more than he she pays into the policy or may pay premiums for a long time and yet have no loss. Conditional - Answer -Ins. contract is conditional. Both parties must meet conditions. Even when a loss occurs. Ex) Life Ins. policy only pays on condition that proof of death is provided. Reinsurance - Answer -Ins. between ins. co's. Ins. co's go to each other for help. Ex) A given risk is not acceptable to an ins. co. due to adverse medical/underwriting considerati