P is a producer who notices 5 questions on a life application were not answered. What actions should P take? - correct answer Set up a meeting with the applicant to answer the remaining questions
Which of the following does Social Security NOT provide benefit...
P is a producer who notices 5 questions on a life application were not answered. What actions should P
take? - correct answer Set up a meeting with the applicant to answer the remaining
questions
Which of the following does Social Security NOT provide benefits for? - correct answer
Dismemberment
An Accident/Health policyholder has ____ days to return the policy and receive a full refund on
premiums - correct answer 10
Under a Renewable Term policy, - correct answer the renewable premium is
calculated on the basis of the insured's attained age
Which of the following BEST describes a short-term medical expense policy? - correct answer
Nonrenewable
W is a 39-year old female who just purchased an annuity to provide income for life starting at age 60. All
of these would be acceptable annuity choices EXCEPT a(n) - correct answer
Immediate annuity
How are Roth IRA distributions normally taxed? - correct answer Distributions are
received tax-free
An insurance applicant was recently denied insurance coverage. The applicant is requesting access from
the insurer to recorded personal information regarding this decision. Under the Information and Privacy
Protection Act, the insurer MUST make the information available within ___ business days - correct
answer 30
What is a warranty? - correct answer is a statement guaranteed to be true
, S is a life insurance policyowner and enters into a written agreement to receive immediate cash in
exchange for the sale and transfer of her life insurance policy. This agreement is referred to as a(n) -
correct answer Viatical Settlement
How is the Life and Health Insurance Guaranty Associated funded? - correct answer
from member companies
Quarterly premium payments increase the annual cost of insurance because - correct answer
interest to the insurer is decreased while the administrative costs are increased
Who does an insurance broker in North Carolina represent? - correct answer
Insured
When an existing life insurance policy is being reissued with a reduction in cash value, the agent must
sign the - correct answer Notice Regarding Replacement of Life Insurance of
Annuity
Whole Life insurance policies are contractually guaranteed to provide each of the following, EXCEPT -
correct answer partial withdrawal features beyond a surrender charge period
K works for XYZ Clothing Store from September through December each year. K works 45 hours a week
for this period of time. The employer's Group Policy would consider K - correct answer
not eligible for the insurance because as a seasonal employee K does not meet the definition of
"employee" under NC law
M is insured under a basic Hospital/Surgical Expense policy. A physician performs surgery on M. What
determines the claim M is eligible for? - correct answer Determined by the terms of
the policy
Which health policy clause specifies the amount of benefits to be paid? - correct answer
Insuring
In order to establish a Health Reimbursement Arrangement (HRA), it MUST - correct answer
be established by the employer
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