NC Life Study guides, Class notes & Summaries

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...

NC Life Insurance Practice Exam Questions With 100% Correct Answers 2024 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. answerc) Writing North Carolin...

nc life practice exam pt 2 Questions With 100% Correct Answers 2024 group life - answerWhich of the following types of insurance policies is EXEMPT from the Life Insurance and Annuity Replacement Rule? Accidental Death - answerA Variable Life contract must contain all of the following provisions EXCEPT: has forged another person's name on an insurance application - answerThe Insurance Commissioner may revoke or suspend a producer's license if the producer: a foreign company - answerAn insuranc...

NC Life Insurance Exam Prep Chapter I Questions With 100% Correct Answers 2024 Liquidity - answerindicates a company's ability to make unpredictable payouts to policy owners Insurance - answerevolved to produce a practical solution to economic uncertainties and losses Reserves - answerthe accounting measurement of an insurer's future obligations to its policyholders. They are classified as liabilities on the insurance company's accounting statements since they must be settled at a future date...

nc life practice exam Questions With 100% Correct Answers 2024 Grace period provision. - answerWhich of the following features allows an insurance policy to remain in force for a specific number of days beyond the premium due date? Make collateral assignment to the insurer - answerReinstatement of a life insurance policy requires an insured to take all of the following actions EXCEPT: The insured's signed statement of continued good health - answerAn insurance producer takes an applicati...

nc life practice exam pt 2 Questions With 100% Correct Answers 2024 group life - answerWhich of the following types of insurance policies is EXEMPT from the Life Insurance and Annuity Replacement Rule? Accidental Death - answerA Variable Life contract must contain all of the following provisions EXCEPT: has forged another person's name on an insurance application - answerThe Insurance Commissioner may revoke or suspend a producer's license if the producer: a foreign company - answerAn ...

1.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 agent's license 3. A Whole Life Insurance Policy endows when t...

nc life practice exam pt 2 Questions With 100% Correct Answers 2024 group life - answerWhich of the following types of insurance policies is EXEMPT from the Life Insurance and Annuity Replacement Rule? Accidental Death - answerA Variable Life contract must contain all of the following provisions EXCEPT: has forged another person's name on an insurance application - answerThe Insurance Commissioner may revoke or suspend a producer's license if the producer: a foreign company - answerAn insuranc...

NC LIFE AND HEALTH INSURANCE STUDY EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ 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 Correct Answer: 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 ap...

NC LIFE INSURANCE PRACTICE EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ 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...