Sc insurance licensing - Study guides, Class notes & Summaries

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...

Process of Licensing SC - Answer * 18 years of age *good moral character *no convicted of a felony or crime involving dishonesty, fraud, breach of fiduciary duties. *pay licensing fees *pass state examination Type of Licenses - Answer *Producer *Nonresident *Temporary Licenses *Broker Producer license - Answer an licensed producer who is appointed by an insurer to sell, advertise, take application and deliver insurance policies. Nonresident license - Answer must be in goo...

SC REAL ESTATE LICENSING EXAM REVIEW QUESTIONS AND ANSWERS. GRADED A+ In which of the following cases would a person probably be required to have a real estate license? - -Bruce gets hired to find an office suite for a friend who is relocating her business. A license applicant signs up to take the state examination, but has failed to obtain an employer prior to the exam date. In this case, the applicant - -may take the exam and receive an inactive license. A broker operates an office in ...

What are the minimum requirements to a licensed producer in South Carolina? - 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? - ANSWER SC DOI application, SLED criminal background check, exam status report How does a producer become an agent? - ANSWER By getting appointed by insurance carriers Name the 3 types of Indiv...

NASCLA Business Law and Management Exam Sc Questions With 100% Correct Answers 2024 Sole Proprietorship a business owned and managed by a single individual Simplest form to set up unlimited Liability Partnerships Business organizations in which two or more persons share responsibilities, costs, profits, and losses. C Corporations Corporations that have no restrictions on who owns their shares or the number of shareholders; they cannot qualify for subchapter S tax treatment and are subj...

Process of Licensing SC - ANSWER-* 18 years of age *good moral character *no convicted of a felony or crime involving dishonesty, fraud, breach of fiduciary duties. *pay licensing fees *pass state examination Type of Licenses - ANSWER-*Producer *Nonresident *Temporary Licenses *Broker Producer license - ANSWER-an licensed producer who is appointed by an insurer to sell, advertise, take application and deliver insurance policies. Nonresident license - ANSWER-must be in good standi...

NASCLA Business Law and Managment EXAM SC Questions with Correct Answers Sole Proprietorship - answera business owned and managed by a single individual Simplest form to set up unlimited Liability Partnerships - answerBusiness organizations in which two or more persons share responsibilities, costs, profits, and losses. C Corporations - answerCorporations that have no restrictions on who owns their shares or the number of shareholders; they cannot qualify for subchapter S tax treatment and are s...

Agency disclosure requirements apply in all of the following transactions EXCEPT A) resale of foreclosed properties B) commercial leases C) new construction D) multifamily sales - correct answer B) commercial leases The period of time over which an improvement to the property will remain useful for its original purpose is known as its a. amortized life. b. chronological life. c. actual life. d. economic life. - correct answer ...

SC Life Insurance Exam Questions & Answers 100% accurate! The balance of the loan will be taken out of the death benefit - ANSWERSIf a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - ANSWERSAn insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - ANSWERSThe clause that protects the proceeds of a life insurance po...

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...