North Carolina XCEL Testing Life & Health Insurance Exam Study Q&A 100% Pass
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Course
Xcel
Institution
Xcel
North Carolina XCEL Testing Life &
Health Insurance Exam Study Q&A 100%
Pass
Which of the following requires insurers to disclose when an applicant's
consumer or credit history is being investigated: - 1970 - Fair Credit
Reporting Act
What type of reinsurance contract involves two companies a...
E was married with three children at the time of death, the primary
beneficiary is still F. However, an insurable interest no longer exists. Where
will the proceeds from E's life insurance policy be directed to? - ✔✔F
All of the following are considered to be typical characteristics describing
the nature of an insurance contract, EXCEPT: - ✔✔Bilateral
The part of a life insurance policy guaranteed to be true is called a(n): -
✔✔warranty
A life insurance arrangement which circumvents insurable interest statutes
is called: - ✔✔Investor-Originated Life Insurance
Taking receipt of premiums and holding them for the insurance company is
an example of: - ✔✔Fiduciary responsibility
Which of these arrangements allows one to bypass insurable interest laws?
- ✔✔Investor-Originated Life Insurance
Insurance contracts are known as ____ because certain future conditions
or acts must occur before any claims can be paid. - ✔✔conditional
When third-party ownership is involved, applicants who also happen to be
the stated primary beneficiary are required to have: - ✔✔insurable interest
in the proposed insured
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