NC LIFE INSURANCE Exam Complete Test , Practice
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Edition) || Most Recent Exam 2026-2027 Actual Complete
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The annuity payout that provides a benefit on more than one
annuitant and continues payments after the death of one
annuitant. Provides a higher amount when both are living. After
one dies the amount is less. - ANSWER -Joint Survivor Annuity
Payments will continue for a stated period of time even if the
annuitant has died
- ANSWER -Annuity with Period Certain
Pay Out
The period of time in an annuity that the contract owner is
depositing money
into the annuity account - ANSWER -
Accumulation Phase
This payout option pays an income to the annuitant for his or
her life. However,
if the annuitant dies before receiving the total of all
premium deposits and
,interest in monthly payments, the insurer refunds the balance
in one lump sum.
- ANSWER -Cash Refund
Payout
Begins payments with 12 months of the purchase of the
contract - ANSWER -
Immediate
Annuity
When the pay-out (annuitization) phase of a Fixed Annuity
begins, who controls
the cash account - ANSWER -The issuing
insurance company
Highest rate of return but also the highest risk. The contract
owner decides where the money is to be invested. No
guarantee from the insurance company. - ANSWER -Variable
Annuity
Have growth that is designed to out pace inflation. - ANSWER -
Variable Annuity
who does a insurance producer represent in a transaction -
ANSWER -Insurer
A insurance producer must disclose any convictions of
criminal offenses to the
commissioner within ______ - ANSWER
-10 Days
, Term used to describe a producer that willfully fails to tell
the truth to an
applicant or insured about a policy -
ANSWER –Twisting
inspecting insurers, adopting rules and regs, enforcing
insurance laws and regs
- ANSWER -The commisoners
duties
PAR life policy dividend that could create an income taxable
event - ANSWER -
Accumulate at Interest
option
The Insured died last unless the primary B lives beyond a
stipulated period. -
ANSWER -Common Disaster
Clause
helps to keep the policy from being cancelled, uses the
accumulated cash value
to pay the premium. not available for term insurance. -
ANSWER -Automatic
Premium
Loan
Questions, Verified Answer Key, and Study Guide (2026
Edition) || Most Recent Exam 2026-2027 Actual Complete
Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ | Guaranteed Success
| Newest Exam | Just Released!!
The annuity payout that provides a benefit on more than one
annuitant and continues payments after the death of one
annuitant. Provides a higher amount when both are living. After
one dies the amount is less. - ANSWER -Joint Survivor Annuity
Payments will continue for a stated period of time even if the
annuitant has died
- ANSWER -Annuity with Period Certain
Pay Out
The period of time in an annuity that the contract owner is
depositing money
into the annuity account - ANSWER -
Accumulation Phase
This payout option pays an income to the annuitant for his or
her life. However,
if the annuitant dies before receiving the total of all
premium deposits and
,interest in monthly payments, the insurer refunds the balance
in one lump sum.
- ANSWER -Cash Refund
Payout
Begins payments with 12 months of the purchase of the
contract - ANSWER -
Immediate
Annuity
When the pay-out (annuitization) phase of a Fixed Annuity
begins, who controls
the cash account - ANSWER -The issuing
insurance company
Highest rate of return but also the highest risk. The contract
owner decides where the money is to be invested. No
guarantee from the insurance company. - ANSWER -Variable
Annuity
Have growth that is designed to out pace inflation. - ANSWER -
Variable Annuity
who does a insurance producer represent in a transaction -
ANSWER -Insurer
A insurance producer must disclose any convictions of
criminal offenses to the
commissioner within ______ - ANSWER
-10 Days
, Term used to describe a producer that willfully fails to tell
the truth to an
applicant or insured about a policy -
ANSWER –Twisting
inspecting insurers, adopting rules and regs, enforcing
insurance laws and regs
- ANSWER -The commisoners
duties
PAR life policy dividend that could create an income taxable
event - ANSWER -
Accumulate at Interest
option
The Insured died last unless the primary B lives beyond a
stipulated period. -
ANSWER -Common Disaster
Clause
helps to keep the policy from being cancelled, uses the
accumulated cash value
to pay the premium. not available for term insurance. -
ANSWER -Automatic
Premium
Loan
