PACKAGE DEAL FOR:South Carolina Insurance Exam Questions & Answers(RATED A+)

The branch of dentistry which deals with the replacement of missing parts is called Endodontics Periodontics Orthodontics Prosthodontics - ANSWER Prosthodontics How many months can a life insurance policy normally be backdated from the date of application? 3 6 9 12 - ANSWER ...

Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? - ANSWER Assisted Living Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has gone up 4%, how much...

Any of the following transactions will be subject to federal income tax consequences in a modified endowment contract (MEC), EXCEPT: Select one: a. Policy loans b. Policy withdrawals c. Partial withdrawals d. Death proceeds - ANSWER Death proceeds Death benefits are the only payment not affe...

An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? - ANSWER Inflation protection Which of these riders will pay a death benefit if the insured's spouse dies? - ANSWER Family term insurance rider Disability income plans which requir...

Producer - ANSWER An insurance producer is any person who sells, solicits, or negotiates insurance on behalf of an insurer. What option does the Director have if an insurance company becomes insolvent? - ANSWER Revoke the company's license If a producer changes their address, they have how many...

The balance of the loan will be taken out of the death benefit - ANSWER If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - ANSWER An insurer receives a report regarding potential insured that includes financial status, ho...

What are the minimum requirements to a licensed producer in South Carolina? - ANSWER Be 18 years old, good morale character, not been convicted of a felony, pay required licensing fees, pass state exam What documentation is requested by the SC Department of Insurance to process your application? ...

One marketing system for life and health insurance and property and liability insurance does not use agents or brokers. Instead, potential customers are solicited by television, radio, print ads, and other media. This marketing system is called a) personal selling distribution system. b) the dir...

Abandonment - ANSWER the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - ANSWER Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability....

Annuity Certain - ANSWER Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called Survivorship Life - ANSWER The type of policy which pays on the death of the last person is called Malign another insurer - ANSWER Defamation occ...

A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay - ANSWER 100% of the billed amount What does Coordination of Benefits allow? - ANSWER Allows the secondary payor to reduce their b...

Producer - ANSWER Independent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. resident producer - ANSWER An agent who holds an insurance license in the state in which they live non-resident producer - ANSWER Agents who ho...

REQUIREMENTS - ANSWER 1. Must be 18 years or older 2. Person of good moral character 3. Has paid fees 4. Must have passed exam PRODUCER LICENSE - ANSWER Ground person; out working with people; represents the company NONRESIDENT LICENSE - ANSWER Means you live out of state, and if you want t...