Final Exam - North Carolina Life Agent | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS

Final Exam - North Carolina Life Agent | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Life insurance and Annuity Replacements define replacement as - Answer -exchanging an existing policy for a new policy S is a life insurance policyowner and enters into a written agreement to receive immediate cash in exchange for the sale and transfer of her life insurance policy. This agreement is referred to as a(n): - Answer -Viatical Settlement P died five years after purchasing a life policy. While investigating the claim, the insurer discovered material misrepresentations made by P during the application process. Which of these actions will the insurer take? - Answer -Beneficiary will be paid the Death Benefit The circulation of written literature that is maliciously critical of an insurer's financial condition is called - Answer -Defamation Which of the following is TRUE about a qualified retirement that is "top heavy"? - Answer -More than 60% of plan assets are in key employee accountsWhat type of life policy covers two people and pays upon the death of the last insured? - Answer -Survivorship Which of the following combination plans is designed to protect and insured from an unpaid mortgage balance upon premature death? - Answer -Joint Life A(n) ______ Life policy offers the owner investment in products such as money-market funds, long-term bonds a