NSC Exam Questions and Answers Latest Update 2024 100% Correct
1. Peter has a policy where 80% to 90% of the premium is invested in traditional fixed income securities and the remainder of the premium is invested in contracts tied to a stipulated stock index. What kind of policy is this? – ANSWER: "Equity index whole life 2. Legal purpose is a term used in contract law meaning? - ANSWER: there must be legal reasons for entering into a contract. 3. Which of the following is an example of the insurance consideration? – ANSWER: A paid premium 4. According to the principle of utmost good faith, the insured will answer questions on the application to the best of their knowledge and pay the required premium, while the insurer will deal fairly with the insured and it's? - ANSWER: promises made 5. When the principal gives the agent authority in writing, it is referred to as? - ANSWER: Express authority
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