South Carolina Insurance Exam with 100% correct answers

South Carolina Insurance Exam with 100% correct answers 1. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? ANS Inflation protection 2. Which of these riders will pay a death benefit if the insured's spouse dies? ANS Family term insurance rider 3. Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered ANS Nonconcellable 4. What is the required action to be taken by a South Carolina licensee before operating under an assumed business name? ANS Notify the Director 5. The suicide clause of a life insurance policy states that if an insured com- mits suicide within a stated period from the policy's inception, the insurer will only be liable for a return of premiums paid ANS minus indebtedness and without interest 6. If an annuitant dies before the annuity start date ANS the premiums paid plus interest will be given to the beneficiary 7. The purpose of the Coordination of Benefits provision in group accident and health plans is to ANS avoid overpayment of claims 8. The typical long-term care insurance policy is designed to provide a mini- mum of year(s) of coverage ANS 1 9. Decreasing term life insurance is often used to ANS provide coverage for a home mortgage