NC LIFE INSURANCE EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

NC LIFE INSURANCE EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Fraternal Benefit Society - Answer -An organization of people who share a month ethnic, religious or vocational affiliation. They are entities they have no capital stock, have a representative form of government. They exist not for profit but solely for the benefit of their members and their beneficiaries and operate on a lodge system. Fraternal Benefit Societies - Answer -Agents of these societies must comply with the SAME general laws governing licensing that apply to resident and nonresident agents. Graded Premium Whole Life - Answer -Has premiums they start very low then increase annually for a long period and stay level for the rest of the life of the policy. Death Benefit Option 1 of a universal life policy - Answer -the benefit payable when the insured dies stays level and equal to the initial specified amount.Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: Death Benefit Option 2 of a universal life policy - Answer -this benefit is generally increasing. This benefit equals the policy's specified amount plus the cash value. Variable Universal Life insurance - Answer -Combines the features of universal life insurane with the ability to allocate premiums to a seperate account. THIS MEANS the growth of the contract's cash value is based on the performance of the underlying investment. Straight Life Income - Answer -provides the largest monthly income payment for a given amount o annualized funds. Also called pure life option, income payments are made for the annuitants lifetime, regardless of how long that may be. In regards to the Section 1035 tax code, which exchanges is permitted on a tax-free basis? - Answer -1. life insurance for life insurance 2. Life insurance for an end