NC Life Insurance Exam Prep EXAM
COMPREHENSIVE questions answered, 2025
verified graded A+ already passed!
Save
Terms in this set (220)
An agent who sells an A policy summary and buyer's guide
individual life insurance
policy in NC MUST deliver
to the policyowner
All of the following Sharing commissions with other licensed and
actions are considered appointed agents
rebating EXCEPT
What benefit does the Premiums are waived if payor becomes disabled
Payor Clause on a Juvenile
Life Policy provide?
An agent who signs a Is guilty of a misdemeanor
blank contract application
or policy of insurance
A person is required to be 18
AT LEAST how old before
he or she is licensed as an
agent in NC?
,In a life insurance policy, Exclusion
which feature states that
the policy will not cover
certain risks?
Whole Life insurance are Partial withdrawal features beyond a surrender charge
contractually guaranteed period
to provide each of the
following EXCEPT?
A term life insurance Upon the insured's death during the term of the policy
policy matures
Which of these provisions Reinstatement
require proof of
insurability after a policy
has lapsed?
How does a typical Through mutual funds, stocks, and bonds
Variable Life Policy
Investment account grow?
Circulation of any oral or Defamation
written statement or any
pamphlet, circular, article
or literature that is false or
maliciously critical of or
derogatory to the financial
condition of an insurer is
known as
All of the following are Bilateral
considered characteristics
describing the nature of
an insurance contract
EXCEPT
A 15-year mortgage is 15-year decreasing term
best protected by what
kind of life policy?
, Companies in NC may Licensed agents
transact solicitations for
insurance ONLY through
Which of these retirement Individual Retirement Account (IRA)
plans can be started by an
employee, even if another
plan is in existence
A life policy with a death Variable life
benefit that can fluctuate
according to the
performance of its
underlying investment
portfolio is referred to as
If an annuity is terminated The contract surrender value at that time
prior to the beginning of
the income payment
period, the contract
owner receives
A provision in a life Policy Loan Provision
insurance policy that pays
the policy owner an
amount that doesn't
surpass the guaranteed
cash value is called the
When does a Guaranteed At future dates specified in the contract with no
Insurability Rider allow the evidence of insurability required
insured to buy additional
coverage?
T, age 70, withdrawals Income that cannot be outlived by the owner
cash from a profit-sharing
plan and purchases a
Straight Life Annuity. What
will this transaction
provide?
COMPREHENSIVE questions answered, 2025
verified graded A+ already passed!
Save
Terms in this set (220)
An agent who sells an A policy summary and buyer's guide
individual life insurance
policy in NC MUST deliver
to the policyowner
All of the following Sharing commissions with other licensed and
actions are considered appointed agents
rebating EXCEPT
What benefit does the Premiums are waived if payor becomes disabled
Payor Clause on a Juvenile
Life Policy provide?
An agent who signs a Is guilty of a misdemeanor
blank contract application
or policy of insurance
A person is required to be 18
AT LEAST how old before
he or she is licensed as an
agent in NC?
,In a life insurance policy, Exclusion
which feature states that
the policy will not cover
certain risks?
Whole Life insurance are Partial withdrawal features beyond a surrender charge
contractually guaranteed period
to provide each of the
following EXCEPT?
A term life insurance Upon the insured's death during the term of the policy
policy matures
Which of these provisions Reinstatement
require proof of
insurability after a policy
has lapsed?
How does a typical Through mutual funds, stocks, and bonds
Variable Life Policy
Investment account grow?
Circulation of any oral or Defamation
written statement or any
pamphlet, circular, article
or literature that is false or
maliciously critical of or
derogatory to the financial
condition of an insurer is
known as
All of the following are Bilateral
considered characteristics
describing the nature of
an insurance contract
EXCEPT
A 15-year mortgage is 15-year decreasing term
best protected by what
kind of life policy?
, Companies in NC may Licensed agents
transact solicitations for
insurance ONLY through
Which of these retirement Individual Retirement Account (IRA)
plans can be started by an
employee, even if another
plan is in existence
A life policy with a death Variable life
benefit that can fluctuate
according to the
performance of its
underlying investment
portfolio is referred to as
If an annuity is terminated The contract surrender value at that time
prior to the beginning of
the income payment
period, the contract
owner receives
A provision in a life Policy Loan Provision
insurance policy that pays
the policy owner an
amount that doesn't
surpass the guaranteed
cash value is called the
When does a Guaranteed At future dates specified in the contract with no
Insurability Rider allow the evidence of insurability required
insured to buy additional
coverage?
T, age 70, withdrawals Income that cannot be outlived by the owner
cash from a profit-sharing
plan and purchases a
Straight Life Annuity. What
will this transaction
provide?
