Comprehensive Final Examination- NC Life Agent Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS

Comprehensive Final Examination- NC Life Agent Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Which type of life policy contains a monthly mortality charge as well as self-directed investment choices? - Answer -Variable Universal Life If X wants to buy $50,000 worth of permanent protection on his/her spouse and $25,000 worth of 10-year Term coverage on X under the same policy, the applicant should purchase - Answer -A Whole Life Policy with Other Insured Rider When an existing life insurance policy is terminated so that a new life insurance policy can be purchased, this transaction is referred to as - Answer -Replacement The Commissioner of insurance may suspend, revoke, or refuse to renew the license of an agent who - Answer -is found guilty of misrepresentation or fraud in obtaining the license A 42 year old executive wants to purchase life insurance that will allow for increases or decreases to coverage as his/her needs change. Whichof the following policies will best meet this need? - Answer -Universal Life What benefit does the Payor clause on a Juvenile Life policy provide? - Answer -Premiums are waived if payor becomes disabled ABC Insurance Company fails to pay death proceeds after satisfactory proof of loss was submitted. ABC must then begin paying interest on the death proceeds after ____ days of receiving proof of loss. - Answer - 30 An IRA owner can start making withdrawals