Sc insurance licensing - Study guides, Class notes & Summaries

SC Life Insurance Exam Questions and Answers 100% Pass If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? The balance of the loan will be taken out of the death benefit An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Inspection Report The clause that protects the proceeds of a life insurance policy from creditors after the death of the ...

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 Requirements - Answer 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to...

Nonresident Licensing Requirements -ANSWER- 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to operate in SC. 3. File an affidavit stating he is a licensed broker in another state. 4. Pay a biennial fee of $200. What is the term of a brokers license? -ANSWER- Brokers licenses are indefinite unless suspended or revoked as long as licensing fees are paid. Can m...

CHAPTER 1 & 2; HEALTH ACCIDENT AND LIFE INSURANCE TEST (SOUTH CAROLINA) 2024 What are the minimum requirements to a licensed producer in South Carolina? - correct answer Be 18 years old, good morale character, not been convicted of a felony, pay required licensing fees, pass state exam What documentation is requested by the SC Department of Insurance to process your application? - correct answer SC DOI application, SLED criminal background check, exam status report How does a producer...

SC Insurance Brokers Exam UPDATED Exam Questions and CORRECT Answers Resident Licensing Requirements - Correct 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 Requirements - Correct ANSWER- 1. File application on form prescribed by the director. 2. File affidavit stating insurance on...

South Carolina Health Accident and Life Insurance Test Chapter 1 & 2 Already Passed What are the minimum requirements to a licensed producer in South Carolina? Be 18 years old, good morale character, not been convicted of a felony, pay required licensing fees, pass state exam What documentation is requested by the SC Department of Insurance to process your application? SC DOI application, SLED criminal background check, exam status report How does a producer become an agent? By g...

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 Requirements - ANSWER-1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to opera...

Resident Licensing Requirements - correct 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 Requirements - correct answer 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers l...

Resident Licensing Requirements 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 Requirements 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to operate in SC. 3...

SC Life Insurance ExamThe balance of the loan will be taken out of the death benefit - correct answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - correct answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - correct answer The clause that protects the proceeds of a life insurance policy from credi...