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South Carolina Insurance Exam 2024 with 100% Correct Answers VERIFIED $13.49   Add to cart

Exam (elaborations)

South Carolina Insurance Exam 2024 with 100% Correct Answers VERIFIED

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  • Course
  • South Carolina Insurance
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  • South Carolina Insurance

South Carolina Insurance Exam 2024 with 100% Correct Answers VERIFIED

Preview 3 out of 19  pages

  • August 9, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • South Carolina Insurance
  • South Carolina Insurance
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South Carolina Insurance Exam Questions.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/South%20Carolina%20




South Carolina Insurance Exam Questions


1. An insurer is REQUIRED to offer which of the following to each long-termcare

applicant at the time of purchase?

ANS Inflation protection

2. Which of these riders will pay a death benefit if the insured's spousedies?

ANS Family term insurance rider

3. Disability income plans which require that the insurer can NEVER changeor alter

premium rates are usually considered

ANS Nonconcellable

4. What is the required action to be taken by a South Carolina licensee beforeoperating

under an assumed business name?

ANS Notify the Director

5. The suicide clause of a life insurance policy states that if an insured com- mits suicide

within a stated period from the policy's inception, the insurer willonly be liable for a

return of premiums paid

ANS minus indebtedness and without interest
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6. If an annuitant dies before the annuity start date

ANS the premiums paid plusinterest will be given to the beneficiary

7. The purpose of the Coordination of Benefits provision in group accidentand health

plans is to

ANS avoid overpayment of claims

8. The typical long-term care insurance policy is designed to provide a mini-mum of

year(s) of coverage

ANS 1

9. Decreasing term life insurance is often used to

ANS provide coverage for a homemortgage

10. Which type of life insurance policy pays the face amount at the end of thespecified

period if the insured is still alive?

ANS Endowment policy

11. A life insurance policy normally contains a provision that restricts cov-erage in the

event of death under all of the following situations EXCEPT

ANS -fare-paying passenger

12. All policies must be guaranteed renewable.

ANS long-term care
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13. What type of injury would NOT be covered under a health insurancepolicy?

ANS Work related

14. All of these are common exclusions to a life insurance policy EXCEPT

ANS ac-cidental health

15. Which of the following decisions would a Health Savings Account (HSA)owner NOT

be able to make?

ANS The amount contributed by the employer

16. A whole life insurance policy accumulates cash value that becomes

ANS thepolicy loan value which the insured may borrow against

17. Mike has inherited his father's traditional IRA. As beneficiary, he will pay

taxes on any money withdrawn.

ANS income

18. An interest-sensitive life insurance policyowner may be able to withdrawthe policy's

cash value interest free.The provision that allows this is called

ANS -Partial Surrender




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