NC Life Study guides, Class notes & Summaries

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...

NC Life Insurance Exam Prep With 100% Correct Answers An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - answerA policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - answerSharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? - answerPremiums are waived if payor becomes disabled An agent who signs a blank contract application ...

Comprehensive Final Examination- NC Life Agent Exam Questions With 100% Correct Which type of life policy contains a monthly mortality charge as well as self-directed investment choices? - answerVariable Universal Life If X wants to buy $50,000 worth of permanent protection on his/her spouse and $25,000 worth of 10-year Term coverage on X under the same policy, the applicant should purchase - answerA Whole Life Policy with Other Insured Rider When an existing life insurance policy is term...

Final Exam - North Carolina Life Agent Questions With 100% Correct Life insurance and Annuity Replacements define replacement as - answerexchanging an existing policy for a new policy S is a life insurance policyowner and enters into a written agreement to receive immediate cash in exchange for the sale and transfer of her life insurance policy. This agreement is referred to as a(n): - answerViatical Settlement P died five years after purchasing a life policy. While investigating the clai...

Final Exam - North Carolina Life and Health Questions With 100% Correct Answers Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? - answer 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 - answerfree-look period has expired Additional coverage can be added to a Whole Life policy by adding a(n) - ans...

NC Drivers Ed Practice Written Exam Questions With 100% Correct Answers 2024 A driver license is required for the following? A.) Sitting in the driver's seat of a car while the engine is running. B.) Steering a car while it is being pushed or towed by another vehicle. C.) Both A and B. D.) Neither A nor B. - answerC If a law enforcement officer swears that a driver has refused a legal chemical test, the Division of Motor Vehicles must: A.) Place the driver on probation. B.) Wait for a...

NC State LIFE Insurance Exam With Complete Solutions Insurable Interest - answerSomething of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - answerWrong person takes medical examination/test in connection with application for insurance. **Can be contested beyond 2 year incontestable clause** Adhesion - answerIns. Co. designs original contract. Insured has little or no control o...

NC Life insurance state exam study guideline With Latest Term Insurance - answerUsed for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on current (attained)age. Term Insurance - answerExpire'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 - answerTerm insurance can be Renewed annually. Has a level Face Amount at renewal, Premiums goes up. Can be purchased for a Ye...

NC Life Exam Simulation Questions With 100% Correct Answers 2024 Which of the following actions require a policyowner to provide proof of insurability in an Adjustable Life policy? - answerANSWER: 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 - answerANSWER: suspend, revoke, or refuse ...

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 Nort...