SOUTH CAROLINA INSURANCE COMPILED EXAMS BUNDLE ALL YOU NEED IS HERE 100% 2024.

When creating an agency relationship in South Carolina between a real estate brokerage firm and a seller, what is required? - Answer A written agency agreement What is an agency relationship - Answer It is a fiduciary and consensual relationship between two persons where one person acts on ...

The process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? - Answer Underwriting The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible f...

Producer - Answer Independent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. resident producer - Answer An agent who holds an insurance license in the state in which they live non-resident producer - Answer Agents ...

Greg has recently been terminated from his job that covered group life insurance. How long does he have to convert his coverage to an individual policy? - Answer 31 days which of these would NOT be considered a presumptive disability? - Answer lost of an leg or arm The premium payment mode...

The branch of dentistry which deals with the replacement of missing parts is called Endodontics Periodontics Orthodontics Prosthodontics - Answer Prosthodontics How many months can a life insurance policy normally be backdated from the date of application? 3 6 9 12 - Answ...

-be at least 18 years of age -be of good moral character -not have been convicted of a felony or crime -pay the required licensing fee -pass the state exam - Answer to qualify for a license, applicant must - take and pass state exam -acquire and submit SLED criminal background check -app...

Chrystal and Craig were renting an apartment from Sandra. However, they skipped out on three month's rent and moved out, leaving behind $1,200 in damage to the apartment. Altogether they owe Sandra $3,300; so Sandra files a civil suit against them. In this case, Chrystal and Craig are: - Answer ...

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

An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - Answer Grace period A person who is a nonsmoker, of average weight, and ...

An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - Answer Grace period A person who is a nonsmoker, of average weight, and...

The balance of the loan will be taken out of the death benefit - Answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - Answer An insurer receives a report regarding potential insured that includes financial status...

A carrier for a small group health plan may refuse to renew the plan if the employer exceeds a specified number of claims fails to generate minimum revenues fails below a minimum AM Best rating fails to pay the premium - Answer fails to pay the premium Twisting is BEST defined as m...

Which of the following is Medicare Part B also known as? -Answer Medical Insurance If the annuitant dies before the annuity start date -Answer the premiums paid plus interest earned will be given to the beneficiary An insured individual and the policy's beneficiary die from the same acc...

Resident Licensing Requirements - Answer 1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requir...