Shadow251

An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? - Premiums are waived if payor becomes disabled An agent who signs a blank contract application or policy of insurance - Is guilty of a misdemeanor A person is required t...

All of the following are included within the Insurance Commissioner's duties EXCEPT a) Conducting investigation of all domestic insurers. b) Reviewing the insurers' annual reports. c) Writing North Carolina insurance laws. d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforcing the law is. - c) Writing North Carolina insurance laws. Writing insurance law is not the Insurance Commi...

all of the following policies may be examples of third-party ownership except - Modified Life Policy any applicant for life insurance may question the validity and source of any consumer information developed under the - medical information bureau disclosure act which of the following policy provisions states that the application is part of the policy - Entire Contract the PRIMARY reason for selecting a variable whole life policy instead of a traditional whole like policy is that the variable...

Which of the following features allows an insurance policy to remain in force for a specific number of days beyond the premium due date? - Grace period provision. Reinstatement of a life insurance policy requires an insured to take all of the following actions EXCEPT: - Make collateral assignment to the insurer An insurance producer takes an application for a life insurance policy but does not collect the initial premium. On delivery of the policy to the proposed insured, the producer must col...

An insurer must provide claim forms to an insured within a MAXIMUM of how many days after receiving notice of an Accident & Health claim? A. Five B. Fifteen C. Twenty D. Thirty - b Under a group health plan, an employer may offer additional benefits to classes of employees on the basis of all of the following factors EXCEPT: A. length of employment B. gender C. salary grade D. job category - b Which of the following statements is CORRECT about a Waiver of Premium provision in a Disabil...

P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary - B A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: A.indemnity contract B.investment contract C.endowment D.annuity - D An insurance producer takes an application f...

Under the social security retirement benefits, all of the following factors will influence how much a retiring individual will receive as a monthly income benefit except the individual's - Sex In life insurance, insurance interest must exist at the time the - Producer writes an application on a proposed insured Which of the following statements is NOT correct about representations? - They are true in every respect An insurance producer takes an application for a life insurance policy but d...

a type of annuity in which the cash values are invested in securities is called variable two business partners own life insurance on each other. If one partner dies, which of the following contracts will allow the other partner to buy 100 percent of the business interest buy and sell agreement which of the following retirement plans is tax-qualified defined contribution a client needs a substantial amount of protection but has limited financial resources. Which of the following insurance p...

P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary - B A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: A.indemnity contract B.investment contract C.endowment D.annuity - D An insurance producer takes an application f...

Cash Value - The amount of money a whole life policyholder would receive if the policy were surrendered before death or maturity Term Insurance - Life insurance coverage for a specified period of time, less expensive than whole Term insurance is appropriate when: - 1. The amount of income that can be spent on life insurance is limited 2. The need for protection is temporary 3. The insured wants to guarantee future insurability D I A L Policies - Decreasing Increasing Annual Renewable Term...