NC Life Insurance
NC Life Insurance
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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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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 - Other Life Topics - Chapter Quiz with Verified Solutions
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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
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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 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 Insurance Study Test Questions and Answers Graded A+
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NC Life Insurance Study Test Questions and Answers Graded A+ 
The Family Plan Insurance Policy usually consists of: 
whole life insurance on the family head and term insurance on other family members 
 
 
A Jumping Juvenile Policy: 
automatically increases the face amount at a given age 
 
 
Excess interest credited under an index-linked method would pay interest in relation to: 
an external economic indicator 
 
 
Under a straight life annuity, an income is payable by the company: 
only so long...
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NC LIFE insurance state exam questions and answers 100% pass
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NC LIFE insurance state exam questions and answers 100% pass 
CREDIT LIFE 
a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. 
 
 
BUY-SELL AGREEMENTS 
a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement 
 
 
INSURABLE INTEREST 
to purchase insurance the policy owner must face the possibility ...
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NC Life insurance state exam study guideline already graded A+
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NC Life insurance state exam study guideline already graded A+ 
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 o...
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NC Life Insurance Practice Exam Questions and Answers Already Passed
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NC Life Insurance Practice Exam Questions and Answers Already Passed 
All of the following are included within the Insurance Commissioner's duties EXCEPT 
 
a) Conducting investigation of all domestic insurers. 
b) Reviewing the insurers' annual reports. 
c) Writing North Carolina insurance laws. 
d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforcing the law is. 
c) Writing North Carolina ...