Study guides, Class notes & Summaries

NC LIFE INSURANCE EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner Correct Answer: A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT Correct Answer: Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? Correct Answer: Premiums are waived if pa...

NC LIFE INSURANCE EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ Fraternal Benefit Society Correct Answer: An organization of people who share a month ethnic, religious or vocational affiliation. They are entities they have no capital stock, have a representative form of government. They exist not for profit but solely for the benefit of their members and their beneficiaries and operate on a lodge system. Fraternal Benefit Societies Correct Answer: Age...

NC LIFE INSURANCE STATE EXAM STUDY GUIDELINE EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ Term Insurance Correct Answer: Used for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on current (attained)age. Term Insurance Correct Answer: 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 Correct Answer: Term insurance can b...

NC LIFE EXAM SIMULATION | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ Which of the following actions require a policyowner to provide proof of insurability in an Adjustable Life policy? Correct 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 Corr...

NC LIFE INSURANCE STATE EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ CREDIT LIFE Correct Answer: 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 Correct Answer: 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 ...

NC Insurance Licensing Exam Questions With 100% Correct P is a producer who notices 5 questions on a life application were not answered. What actions should P take? - answerSet up a meeting with the applicant to answer the remaining questions Which of the following does Social Security NOT provide benefits for? - answerDismemberment An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums - answer10 Under a Renewable Term policy, - answert...

NC Life insurance state exam study guideline Questions With 100% Correct Answers 2024 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 ...

NC LIFE insurance state exam Questions With 100% Correct Answers 2024 CREDIT LIFE - answera 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 - answera 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 - answerto purchase insurance the policy owner ...

NC life insurance simulated Exam Questions With 100% Correct Answers 2024 Admitted insurer - answerBlackstone Insurers is incorporated in New York, where it has also received a certificate of authority to transact insurance. what type of insurer is Blackstone in New York? Legal Delivery - answerJennifer applied for a $500,000 whole life insurance policy. the insurer issued the policy but classified jennifer as a substandard risk, resulting in a higher premium. which type of policy deliver...