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Exam (elaborations)

South Carolina Insurance Exam 2024 with 100% correct answers

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An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? - correct answer Inflation protection Which of these riders will pay a death benefit if the insured's spouse dies? - correct answer Family term insurance rider Disability incom...

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  • February 21, 2024
  • 11
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • south carolina insurance exam 2024 with 100 corr

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  • South Carolina Insurance
  • South Carolina Insurance

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South Carolina Insurance Exam 2024
with 100% correct answers
An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of
purchase? - correct answer Inflation protection



Which of these riders will pay a death benefit if the insured's spouse dies? - correct answer Family term
insurance rider



Disability income plans which require that the insurer can NEVER change or alter premium rates are
usually considered - correct answer Nonconcellable



What is the required action to be taken by a South Carolina licensee before operating under an assumed
business name? - correct answer Notify the Director



The suicide clause of a life insurance policy states that if an insured commits suicide within a stated
period from the policy's inception, the insurer will only be liable for a return of premiums paid - correct
answer minus indebtedness and without interest



If an annuitant dies before the annuity start date - correct answer the premiums paid plus interest will
be given to the beneficiary



The purpose of the Coordination of Benefits provision in group accident and health plans is to - correct
answer avoid overpayment of claims



The typical long-term care insurance policy is designed to provide a minimum of___year(s) of coverage -
correct answer 1



Decreasing term life insurance is often used to - correct answer provide coverage for a home mortgage

, Which type of life insurance policy pays the face amount at the end of the specified period if the insured
is still alive? - correct answer Endowment policy



A life insurance policy normally contains a provision that restricts coverage in the event of death under
all of the following situations EXCEPT - correct answer fare-paying passenger



All _____ policies must be guaranteed renewable. - correct answer long-term care



What type of injury would NOT be covered under a health insurance policy? - correct answer Work
related



All of these are common exclusions to a life insurance policy EXCEPT - correct answer accidental health



Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to make? -
correct answer The amount contributed by the employer



A whole life insurance policy accumulates cash value that becomes - correct answer the policy loan
value which the insured may borrow against



Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any money
withdrawn. - correct answer income



An interest-sensitive life insurance policyowner may be able to withdraw the policy's cash value interest
free. The provision that allows this is called - correct answer Partial Surrender



Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of
these statements is true? - correct answer The face amount and premium will remain constant over the
10-year period



Kristi purchases an annuity that will pay her husband an income for 15 years. If he dies, this income will
become payable to their children for the remainder of the period. Kristi has what kind of annuity? -
correct answer Temporary annuity certain

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