NC LIFE INSURANCE EXAM PREP 2024 WITH 100% CORRECT ANSWERS

An agent who sells an individual life insurance policy in NC MUST deliver to the policyownerAnswer - A policy summary and buyer's guide All of the following actions are considered rebating EXCEPTAnswer - Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide?Answer - Premiums are waived if payor becomes disabled An agent who signs a blank contract application or policy of insuranceAnswer - Is guilty of a misdemeanor A person is required to be AT LEAST how old before he or she is licensed as an agent in NC?Answer - 18 In a life insurance policy, which feature states that the policy will not cover certain risks?Answer - Exclusion Whole Life insurance are contractually guaranteed to provide each of the following EXCEPT?Answer - Partial withdrawal features beyond a surrender charge period A term life insurance policy maturesAnswer - Upon the insured's death during the term of the policy Which of these provisions require proof of insurability after a policy has lapsed?Answer - Reinstatement