South Carolina Life & Health Final Exam Practice Questions and Verified Answers (2024 / 2025)/ A+ GRADE

South Carolina Life & Health Final Exam Practice Questions and Verified Answers (2024 / 2025)/ A+ GRADE.1. Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? ANS Assisted Living 2. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? ANS $4,000 ($100,000 x.04) 3. All of the following are functions of an insuring clause EXCEPT ANS Primary describes the free-look period 4. The authority granted to a licensed producer is provided via the ANS Law of Agency 5. The Fair Credit Reporting Act protects consumer ANS with guidelines regarding credit reporting and distribution 6. A rider that assures premiums will be paid on a juvenile policy until the child reaches a specific age is called a(n) ANS Payor Rider 7. which of the following is present when an applicant stands to lose value if the insured dies? ANS Insurable interest 8. What happens when an insurance policy is backdated? ANS The policy's effective date is earlier than the present Kathy's annuity is currently experiencing tax-deferred growth until she retires. Which phase is this annuity in? ANS Accumulation period