SC Life Insurance Exam Questions & Answers 100% Solved
16 vistas 0 veces vendidas
Grado
SC Life Insurance
Institución
SC Life Insurance
Inspection Report - ANSWER-An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that?
Spendthrift Clause - ANSWER-The clause that protects the proceeds of a life insurance policy from creditors after the death of the...
the balance of the loan will be taken out of the d
Escuela, estudio y materia
SC Life Insurance
SC Life Insurance
Vendedor
Seguir
IMORA
Comentarios recibidos
Vista previa del contenido
SC Life Insurance Exam Questions &
Answers 100% Solved
The balance of the loan will be taken out of the death benefit - ANSWER-If a policy has
a automatic loan provision, what happens if the insured dies before the loan is paid
back?
Inspection Report - ANSWER-An insurer receives a report regarding potential insured
that includes financial status, hobbies, and habits. What type of report is that?
Spendthrift Clause - ANSWER-The clause that protects the proceeds of a life insurance
policy from creditors after the death of the insured is known as
Term - ANSWER-Children's riders attached to whole life policies are usually issued as
what type of insurance?
Decreasing Term - ANSWER-An individual has just borrowed $10,000 from his bank on
a 5-year installment loan requiring monthly payments. What type of life insurance policy
would be best suited to this situation
24 total hours, including 8 hours approved for the line of licensing that the producer
holds - ANSWER-How many hours of CE must be completed every 2 years?
The creditors have rights to the proceeds if they can show evidence of valid assignment
- ANSWER-Which of the following statements is true concerning the creditors of the
deceased insured?
Insurable interest and consent - ANSWER-A life insurance policy has a legal purpose if
both of which of the following elements exist?
Cost of Living Rider - ANSWER-A long stretch of national economic hardship causes a
7% rate of inflation. A policy owner notices that the face value of her life insurance
policy has been raised 7% as a result. Which policy rider caused this change?
Universal Life - ANSWER-Which of the following Life Insurance policies would be
considered interest-sensitive?
Express Authority - ANSWER-The authority granted to an agent through the agent's
contract is referred to as
The policyowner must sign a delivery receipt - ANSWER-What must happen when an
individual policy or annuity has been personally delivered to the policyowner?
,Reinsure policies of the insolvent insurer through other companies - ANSWER-In the
event of an insurer's insolvency, the South Carolina Life and Health Guaranty
Association will
within 30 days - ANSWER-Once the Director issues a cease and desist order, how soon
must an insurer comply with the order?
It is reduced to the amount of what the cash value would buy as a single premium -
ANSWER-When a reduced-paid up nonforfeiture option is chosen, what happens to the
face amount of the policy?
Suggesting negotiations in settling the claim - ANSWER-All of the following are unfair
claims settlement practices EXCEPT
3 - ANSWER-How many hours of continuing education in Ethics are required each
compliance period
The Broker - ANSWER-In the transaction of insurance, which of the following is
considered to be representing the client?
The beneficiary - ANSWER-In a group life insurance policy, the employer may select all
of the following EXCEPT
Lower - ANSWER-The premium of a survivorship life policy compared with that of a joint
life policy would be
It begins when the policy is delivered. - ANSWER-Which of the following is TRUE about
the 10- day-free=look period in a Life Insurance policy?
It is a life contingency option - ANSWER-All of the following statements are true
regarding installments for a fixed period annuity settlement option EXCEPT
The Client - ANSWER-An insurance producer has not been appointed to an insurance
company. Who is the producer considered to represent?
Any form of life insurance - ANSWER-Partners in a business enter into a buy-sell
agreement to purchase life insurance, which states that should one of them die
prematurely, the other would be financially able to buy the interest of the deceased
partner. What type of insurance policy may be used to fund this agreement
Any person licensed to sell, solicit or negotiate insurance - ANSWER-Who is an
insurance producer
The owner - ANSWER-In life settlement contract, who does the life settlement broker
represent?
, The payable premium amount steadily declines throughout the duration of the contract.
- ANSWER-All of the following are true regarding a decreasing term policy EXCEPT
Yes, it is possible as long as both are licensed for that line of business - ANSWER-Is it
ever possible for more than one producer to split the commissions on an insurance
transaction in this state?
tax deductible - ANSWER-Traditional IRA contributions are
Its premium steadily decreases over time, in response to its growing cash value. -
ANSWER-Which statement is not true regarding a Straight Life policy
6 months - ANSWER-A producer failed to complete the required continuing education
credit hours for this compliance period. Within what time period after the deadline may
the license be reinstated
Single Premium - ANSWER-Which type of life insurance policy generates immediate
cash value
An agreement between a ceding insurer an assuming insurer - ANSWER-What is
reinsurance
Size of each installment - ANSWER-Which of the following determines the length of
time that benefits will be received under the Fixed-Amount settlement option?
Policy Summary - ANSWER-What describes the specific information about a policy
Creditor requiring that a debtor buys insurance from a certain insurer - ANSWER-Which
of the following is NOT allowed in credit life insurance
Variable Annuity - ANSWER-Which of the following products requires a securities
license
reciprocal - ANSWER-Which of the following insurance options would be considered a
risk-sharing arrangement
Rebates are allowed if it's in the best interest of the client - ANSWER-All of the following
are true regarding rebates Except
SEC Registration - ANSWER-To sell variable life insurance policies, an agent must
receive all of the following Except
Those who have been insured under the plan for at least 5 years - ANSWER-Which of
the following employees insurance under a group of life plan would be allowed to covert
to individual insurance of the same coverage once the is plan is terminated
Los beneficios de comprar resúmenes en Stuvia estan en línea:
Garantiza la calidad de los comentarios
Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!
Compra fácil y rápido
Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.
Enfócate en lo más importante
Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable.
Así llegas a la conclusión rapidamente!
Preguntas frecuentes
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
100% de satisfacción garantizada: ¿Cómo funciona?
Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller IMORA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for 10,48 €. You're not tied to anything after your purchase.
