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 Insurance Licensing Exam Questions and Answers 100% Pass
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NC Insurance Licensing Exam Questions and Answers 100% Pass 
P is a producer who notices 5 questions on a life application were not answered. What actions should P take? 
Set up a meeting with the applicant to answer the remaining questions 
 
 
Which of the following does Social Security NOT provide benefits for? 
Dismemberment 
 
 
An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums 
10 
 
 
Under a Renewable Term policy, 
the renewable prem...
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NC Health Insurance Exam Pearson Vue Latest Graded A+
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NC Health Insurance Exam Pearson Vue Latest Graded A+ 
Pure Risk 
chance of loss or no loss but not gain insurable 
 
 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
 
 
exposure unit 
subject to loss 
 
 
peril 
cause of loss 
 
 
life insurance 
death 
 
 
Health insurance 
accident and sickness 
 
 
hazard 
increases the likelihood or severity of loss 
 
 
Three types of hazard 
physical, moral, morale 
 
 
physical hazard 
arise from the inherent characteristi...
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Final Exam - North Carolina Life and Health with Verified Solutions
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Final Exam - North Carolina Life and Health with Verified Solutions 
Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? 
 
 
M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT 
free-look period has expired 
 
 
Additional coverage can be added to a Whole Life policy by adding a(n) 
decreasing term rider 
 
 
A...
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NC Life Exam Simulation Questions and Answers Already PASSED !!!
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NC Life Exam Simulation Questions and Answers Already PASSED !!! 
Which of the following actions require a policyowner to provide proof of insurability in an Adjustable Life policy? 
ANSWER: increase face amount 
 
 
2. If the Commissioner of insurance finds that a licensed person has used fraudulent, coercive, or dishonest practices or has proved to be incompetent, untrustworthy, or financially irresponsible, the law allows the Commissioner to 
ANSWER: suspend, revoke, or refuse to renew the ag...
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NC Life Insurance
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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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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 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 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 Insurance
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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 Insurance Licensing Exam Questions and Answers 100% Pass
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NC Insurance Licensing Exam Questions and Answers 100% Pass 
P is a producer who notices 5 questions on a life application were not answered. What actions should P take? 
Set up a meeting with the applicant to answer the remaining questions 
 
 
Which of the following does Social Security NOT provide benefits for? 
Dismemberment 
 
 
An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums 
10 
 
 
Under a Renewable Term policy, 
the renewable prem...
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