NC Life Insurance
NC Life Insurance
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North Carolina Health Insurance State Exam Prep And Answers Already Passed 2024.
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Insured Contingent Beneficiary - Answer If the insured and primary beneficiary are both killed in the same accident and it cannot be determined who died first, where are the death proceeds to be directed under the uniform Simultaneous Death Act? 
 
Reimbursement - Answer Which type of policy pays benefits to a policyholder covered under a Hospital Expense policy? 
 
$25,000 - Answer J has an Accidental Death and Dismemberment policy with a principal sum of $50,000. While trimming the hedge...
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NC Life Insurance Exam Prep Questions and Answers Already Passed
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NC Life Insurance Exam Prep Questions and Answers Already Passed 
An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner 
A policy summary and buyer's guide 
 
 
All of the following actions are considered rebating EXCEPT 
Sharing commissions with other licensed and appointed agents 
 
 
What benefit does the Payor Clause on a Juvenile Life Policy provide? 
Premiums are waived if payor becomes disabled 
 
 
An agent who signs a blank contract application or...
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NC Life Insurance Practice Exam Questions and Answers Already Passed
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NC Life Insurance Practice Exam Questions and Answers Already Passed 
All of the following are included within the Insurance Commissioner's duties EXCEPT 
 
a) Conducting investigation of all domestic insurers. 
b) Reviewing the insurers' annual reports. 
c) Writing North Carolina insurance laws. 
d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforcing the law is. 
c) Writing North Carolina ...
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NC Life insurance state exam study guideline already graded A+
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NC Life insurance state exam study guideline already graded A+ 
Term Insurance 
Used for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on current (attained)age. 
 
 
Term Insurance 
Expire's at a certain age/Time in the future. May be renewable up to a certain age or date with out a phyical Exam. 
 
 
Level Term Insurance 
Term insurance can be Renewed annually. Has a level Face Amount at renewal, Premiums goes up. Can be purchased for a Year or as o...
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NC LIFE insurance state exam questions and answers 100% pass
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NC LIFE insurance state exam questions and answers 100% pass 
CREDIT LIFE 
a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. 
 
 
BUY-SELL AGREEMENTS 
a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement 
 
 
INSURABLE INTEREST 
to purchase insurance the policy owner must face the possibility ...
Too much month left at the end of the money?
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NC Life Insurance Study Test Questions and Answers Graded A+
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NC Life Insurance Study Test Questions and Answers Graded A+ 
The Family Plan Insurance Policy usually consists of: 
whole life insurance on the family head and term insurance on other family members 
 
 
A Jumping Juvenile Policy: 
automatically increases the face amount at a given age 
 
 
Excess interest credited under an index-linked method would pay interest in relation to: 
an external economic indicator 
 
 
Under a straight life annuity, an income is payable by the company: 
only so long...
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NC State LIFE Insurance Exam Questions and Answers Already Graded A+
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NC State LIFE Insurance Exam Questions and Answers Already Graded A+ 
Insurable Interest 
Something of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. 
 
 
Impersonation 
Wrong person takes medical examination/test in connection with application for insurance. *Can be contested beyond 2 year incontestable clause* 
 
 
Adhesion 
Ins. Co. designs original contract. Insured has little or no control of ...
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NC life and health insurance study questions with certified answers
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NC life and health insurance study questions with certified answers 
Which of the following is NOT a characteristic of universal life insurance? 
A Flexible death benefit 
B Cash account 
C Fixed premium 
D Unbundled premium 
C 
Universal life policies allow the policy owner to increase the amount of premium going into the policy and to later decrease it again. They may even skip a premium payment. The rest of the features apply to universal life policies. 
 
 
Which of the following would help ...
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NC Life insurance state exam study guideline
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NC Life insurance state exam study guideline 
Term Insurance 
Used for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on current (attained)age. 
 
 
Term Insurance 
Expire's at a certain age/Time in the future. May be renewable up to a certain age or date with out a phyical Exam. 
 
 
Level Term Insurance 
Term insurance can be Renewed annually. Has a level Face Amount at renewal, Premiums goes up. Can be purchased for a Year or as often as 5, 10, 15, ...
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NC Life Insurance |A+ Graded
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NC Life Insurance 
Cash Value 
Money accumulation in a permanent policy which the policy owner may borrow as a policy loan or receive if the policy is surrendered before maturity. Upon maturity or endowment the cash value is paid to the policy owner. Cash value may be used as a source of supplemental income. 
 
 
Non- Participating Policies 
Insurance policies which do not pay dividends to policy owners. 
 
 
Participating Policies 
Policies that may pay annual dividends to policy owners. 
 
 
...
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NC Life Insurance - Other Life Topics - Chapter Quiz with Verified Solutions
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NC Life Insurance - Other Life Topics - Chapter Quiz with Verified Solutions 
Contracts that are prepared by one party and submitted to the other party on a "take it or leave it" basis are classified as 
 
A. Binding contracts. 
B. Contracts of adhesion. 
C. Unilateral contracts. 
D. Aleatory contracts. 
(B) Contracts of adhesion 
 
Insurance policies are written by the insurer and submitted to the insured on a "take it or leave it" basis. The insured does not have any input into the contrac...
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