South Carolina Insurance Exam
Questions well answered to pass
Inflation protection - correct answer ✔✔An insurer is REQUIRED to offer which of the following
to each long-term care applicant at the time of purchase?
Family term insurance rider - correct answer ✔✔Which of these riders will pay a death benefit if
the insured's spouse dies?
Noncancellable - correct answer ✔✔Disability income plans which require that the insurer can
NEVER change or alter premium rates are usually considered
Notify the Director - correct answer ✔✔What is the required action to be taken by a South
Carolina licensee before operating under an assumed business name?
minus indebtedness and without interest - correct answer ✔✔The suicide clause of a life
insurance policy states that if an insured commits suicide within a stated period from the
policy's inception, the insurer will only be liable for a return of premiums paid
the premiums paid plus interest will be given to the beneficiary - correct answer ✔✔If an
annuitant dies before the annuity start date
avoid overpayment of claims - correct answer ✔✔The purpose of the Coordination of Benefits
provision in group accident and health plans is to
1 - correct answer ✔✔The typical long-term care insurance policy is designed to provide a
minimum of___year(s) of coverage
, provide coverage for a home mortgage - correct answer ✔✔Decreasing term life insurance is
often used to
Endowment policy - correct answer ✔✔Which type of life insurance policy pays the face
amount at the end of the specified period if the insured is still alive?
fare-paying passenger - correct answer ✔✔A life insurance policy normally contains a provision
that restricts coverage in the event of death under all of the following situations EXCEPT
long-term care - correct answer ✔✔All _____ policies must be guaranteed renewable.
Work related - correct answer ✔✔What type of injury would NOT be covered under a health
insurance policy?
accidental health - correct answer ✔✔All of these are common exclusions to a life insurance
policy EXCEPT
The amount contributed by the employer - correct answer ✔✔Which of the following decisions
would a Health Savings Account (HSA) owner NOT be able to make?
the policy loan value which the insured may borrow against - correct answer ✔✔A whole life
insurance policy accumulates cash value that becomes
income - correct answer ✔✔Mike has inherited his father's traditional IRA. As beneficiary, he
will pay ____ taxes on any money withdrawn.
Partial Surrender - correct answer ✔✔An interest-sensitive life insurance policyowner may be
able to withdraw the policy's cash value interest free. The provision that allows this is called
Questions well answered to pass
Inflation protection - correct answer ✔✔An insurer is REQUIRED to offer which of the following
to each long-term care applicant at the time of purchase?
Family term insurance rider - correct answer ✔✔Which of these riders will pay a death benefit if
the insured's spouse dies?
Noncancellable - correct answer ✔✔Disability income plans which require that the insurer can
NEVER change or alter premium rates are usually considered
Notify the Director - correct answer ✔✔What is the required action to be taken by a South
Carolina licensee before operating under an assumed business name?
minus indebtedness and without interest - correct answer ✔✔The suicide clause of a life
insurance policy states that if an insured commits suicide within a stated period from the
policy's inception, the insurer will only be liable for a return of premiums paid
the premiums paid plus interest will be given to the beneficiary - correct answer ✔✔If an
annuitant dies before the annuity start date
avoid overpayment of claims - correct answer ✔✔The purpose of the Coordination of Benefits
provision in group accident and health plans is to
1 - correct answer ✔✔The typical long-term care insurance policy is designed to provide a
minimum of___year(s) of coverage
, provide coverage for a home mortgage - correct answer ✔✔Decreasing term life insurance is
often used to
Endowment policy - correct answer ✔✔Which type of life insurance policy pays the face
amount at the end of the specified period if the insured is still alive?
fare-paying passenger - correct answer ✔✔A life insurance policy normally contains a provision
that restricts coverage in the event of death under all of the following situations EXCEPT
long-term care - correct answer ✔✔All _____ policies must be guaranteed renewable.
Work related - correct answer ✔✔What type of injury would NOT be covered under a health
insurance policy?
accidental health - correct answer ✔✔All of these are common exclusions to a life insurance
policy EXCEPT
The amount contributed by the employer - correct answer ✔✔Which of the following decisions
would a Health Savings Account (HSA) owner NOT be able to make?
the policy loan value which the insured may borrow against - correct answer ✔✔A whole life
insurance policy accumulates cash value that becomes
income - correct answer ✔✔Mike has inherited his father's traditional IRA. As beneficiary, he
will pay ____ taxes on any money withdrawn.
Partial Surrender - correct answer ✔✔An interest-sensitive life insurance policyowner may be
able to withdraw the policy's cash value interest free. The provision that allows this is called
