Final Exam Practice (South Carolina Life & Health).pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Final%20Exam%20Pra
(South Carolina Life & Health) Final Exam Practice
1. Bill requires some nursing care and supervision but NOT full-time care. Which of
these nursing home options would best serve him?
ANS Assisted Living
2. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider.
If the consumer price index has gone up 4%, how much may Ronincrease the face value
of the policy?
ANS $4,000 ($100,000 x.04)
3. All of the following are functions of an insuring clause EXCEPT
ANS Primarydescribes the free-look period
4. The authority granted to a licensed producer is provided via the
ANS Law ofAgency
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,Final Exam Practice (South Carolina Life & Health).pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Final%20Exam%20Pra
5. The Fair Credit Reporting Act protects consumer
ANS with guidelines regardingcredit reporting and distribution
6. A rider that assures premiums will be paid on a juvenile policy until the childreaches a
specific age is called a(n)
ANS Payor Rider
7. which of the following is present when an applicant stands to lose value ifthe insured
dies?
ANS Insurable interest
8. What happens when an insurance policy is backdated?
ANS The policy's effectivedate is earlier than the present
9. Kathy's annuity is currently experiencing tax-deferred growth until sheretires.
Which phase is this annuity in?
ANS Accumulation period
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10. In what form do disability income policies typically pay benefits?
ANS PeriodicIncome
11. If an insured dies during the grace period with no premiums paid
ANS Thepolicy would be payable, minus the premium amount
12. Index whole life insurance contains a securities component that acts asa(n)
ANS Hedge against inflation
13. When a licensee's address has changed, who must be notified of thischange?
ANS Department of Insurance
14. The branch of chemistry which deals w/ the replacement of missing partsis called?
ANS Prosthodontics
15. A nonparticipating company is sometimes called
ANS stock insurer
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