NC Health Insurance
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Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ 
 
Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? 
M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT 
free-look period has expired 
Additional coverage can be added to a Whole Life policy by adding a(n) 
decreasing term rider 
A...
- Exam (elaborations)
- • 11 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 11 pages
Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ 
 
Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? 
M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT 
free-look period has expired 
Additional coverage can be added to a Whole Life policy by adding a(n) 
decreasing term rider 
A...
NC Health Insurance Exam Pearson Vue Latest Graded A+ 
 
Pure Risk 
chance of loss or no loss but not gain insurable 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
exposure unit 
subject to loss 
peril 
cause of loss 
life insurance 
death 
Health insurance 
accident and sickness 
hazard 
increases the likelihood or severity of loss 
Three types of hazard 
physical, moral, morale 
physical hazard 
arise from the inherent characteristic of the exposure unit 
Moral H...
- Exam (elaborations)
- • 11 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 11 pages
NC Health Insurance Exam Pearson Vue Latest Graded A+ 
 
Pure Risk 
chance of loss or no loss but not gain insurable 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
exposure unit 
subject to loss 
peril 
cause of loss 
life insurance 
death 
Health insurance 
accident and sickness 
hazard 
increases the likelihood or severity of loss 
Three types of hazard 
physical, moral, morale 
physical hazard 
arise from the inherent characteristic of the exposure unit 
Moral H...
Lesson 11: NC Statutes & Regulations Pertinent to Life Insurance Questions and Answers Graded A+ 
 
Contract of Insurance 
Agreement by which the insurer is bound to pay money or its equivalent, or do some act of value to the insured upon and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the party has an interest. 
Commissioner 
Commissioner of Insurance of NC or authorized designee 
-Heads state Department of Insurance 
-Responsible for fair ratemak...
- Exam (elaborations)
- • 8 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 8 pages
Lesson 11: NC Statutes & Regulations Pertinent to Life Insurance Questions and Answers Graded A+ 
 
Contract of Insurance 
Agreement by which the insurer is bound to pay money or its equivalent, or do some act of value to the insured upon and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the party has an interest. 
Commissioner 
Commissioner of Insurance of NC or authorized designee 
-Heads state Department of Insurance 
-Responsible for fair ratemak...
NC Insurance Licensing Exam Questions and Answers 100% Pass 
 
P is a producer who notices 5 questions on a life application were not answered. What actions should P take? 
Set up a meeting with the applicant to answer the remaining questions 
Which of the following does Social Security NOT provide benefits for? 
Dismemberment 
An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums 
10 
Under a Renewable Term policy, 
the renewable premium is cal...
- Exam (elaborations)
- • 10 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 10 pages
NC Insurance Licensing Exam Questions and Answers 100% Pass 
 
P is a producer who notices 5 questions on a life application were not answered. What actions should P take? 
Set up a meeting with the applicant to answer the remaining questions 
Which of the following does Social Security NOT provide benefits for? 
Dismemberment 
An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums 
10 
Under a Renewable Term policy, 
the renewable premium is cal...
Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ 
 
Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? 
M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT 
free-look period has expired 
Additional coverage can be added to a Whole Life policy by adding a(n) 
decreasing term rider 
A...
- Exam (elaborations)
- • 11 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 11 pages
Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ 
 
Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? 
M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT 
free-look period has expired 
Additional coverage can be added to a Whole Life policy by adding a(n) 
decreasing term rider 
A...
NC Health Insurance Exam Pearson Vue Latest Graded A+ 
 
Pure Risk 
chance of loss or no loss but not gain insurable 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
exposure unit 
subject to loss 
peril 
cause of loss 
life insurance 
death 
Health insurance 
accident and sickness 
hazard 
increases the likelihood or severity of loss 
Three types of hazard 
physical, moral, morale 
physical hazard 
arise from the inherent characteristic of the exposure unit 
Moral H...
- Exam (elaborations)
- • 11 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 11 pages
NC Health Insurance Exam Pearson Vue Latest Graded A+ 
 
Pure Risk 
chance of loss or no loss but not gain insurable 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
exposure unit 
subject to loss 
peril 
cause of loss 
life insurance 
death 
Health insurance 
accident and sickness 
hazard 
increases the likelihood or severity of loss 
Three types of hazard 
physical, moral, morale 
physical hazard 
arise from the inherent characteristic of the exposure unit 
Moral H...
Lesson 11: NC Statutes & Regulations Pertinent to Life Insurance Questions and Answers Graded A+ 
 
Contract of Insurance 
Agreement by which the insurer is bound to pay money or its equivalent, or do some act of value to the insured upon and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the party has an interest. 
Commissioner 
Commissioner of Insurance of NC or authorized designee 
-Heads state Department of Insurance 
-Responsible for fair ratemak...
- Exam (elaborations)
- • 8 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 8 pages
Lesson 11: NC Statutes & Regulations Pertinent to Life Insurance Questions and Answers Graded A+ 
 
Contract of Insurance 
Agreement by which the insurer is bound to pay money or its equivalent, or do some act of value to the insured upon and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the party has an interest. 
Commissioner 
Commissioner of Insurance of NC or authorized designee 
-Heads state Department of Insurance 
-Responsible for fair ratemak...
NC Insurance Licensing Exam Questions and Answers 100% Pass 
 
P is a producer who notices 5 questions on a life application were not answered. What actions should P take? 
Set up a meeting with the applicant to answer the remaining questions 
Which of the following does Social Security NOT provide benefits for? 
Dismemberment 
An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums 
10 
Under a Renewable Term policy, 
the renewable premium is cal...
- Exam (elaborations)
- • 10 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 10 pages
NC Insurance Licensing Exam Questions and Answers 100% Pass 
 
P is a producer who notices 5 questions on a life application were not answered. What actions should P take? 
Set up a meeting with the applicant to answer the remaining questions 
Which of the following does Social Security NOT provide benefits for? 
Dismemberment 
An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums 
10 
Under a Renewable Term policy, 
the renewable premium is cal...
Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ 
 
Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? 
M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT 
free-look period has expired 
Additional coverage can be added to a Whole Life policy by adding a(n) 
decreasing term rider 
A...
- Exam (elaborations)
- • 11 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 11 pages
Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ 
 
Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? 
M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT 
free-look period has expired 
Additional coverage can be added to a Whole Life policy by adding a(n) 
decreasing term rider 
A...
NC Health Insurance Exam Pearson Vue Latest Graded A+ 
 
Pure Risk 
chance of loss or no loss but not gain insurable 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
exposure unit 
subject to loss 
peril 
cause of loss 
life insurance 
death 
Health insurance 
accident and sickness 
hazard 
increases the likelihood or severity of loss 
Three types of hazard 
physical, moral, morale 
physical hazard 
arise from the inherent characteristic of the exposure unit 
Moral H...
- Exam (elaborations)
- • 11 pages's •
-
NC Health Insurance•NC Health Insurance
Preview 2 out of 11 pages
NC Health Insurance Exam Pearson Vue Latest Graded A+ 
 
Pure Risk 
chance of loss or no loss but not gain insurable 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
exposure unit 
subject to loss 
peril 
cause of loss 
life insurance 
death 
Health insurance 
accident and sickness 
hazard 
increases the likelihood or severity of loss 
Three types of hazard 
physical, moral, morale 
physical hazard 
arise from the inherent characteristic of the exposure unit 
Moral H...