NC Life Insurance Exam Prep Questions & Answers!!

An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - ANSWER A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - ANSWER Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? - ANSWER Premiums are waived if payor becomes disabled An agent who signs a blank contract application or policy of insurance - ANSWER Is guilty of a misdemeanor A person is required to be AT LEAST how old before he or she is licensed as an agent in NC? - ANSWER 18 In a life insurance policy, which feature states that the policy will not cover certain risks? - ANSWER Exclusion Whole Life insurance are contractually guaranteed to provide each of the following EXCEPT? - ANSWER Partial withdrawal features beyond a surrender charge period A term life insurance policy matures - ANSWER Upon the insured's death during the term of the policy Which of these provisions require proof of insurability after a policy has lapsed? - ANSWER Reinstatement How does a typical Variable Life Policy Investment account grow? - ANSWER Through mutual funds, stocks, and bonds Circulation of any oral or 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 - ANSWER Defamation All of the following are considered characteristics describing the nature of an insurance contract EXCEPT - ANSWER Bilateral A 15-year mortgage is best protected by what k