Nc life exam 2025 - Study guides, Class notes & Summaries

NC State LIFE Insurance Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Insurable Interest - Answer -Something of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - Answer -Wrong person takes medical examination/test in connection with application for insurance. **Can be contested beyond 2 year incontestable clause** Adhesion - Answer -Ins. Co. desig...

NC life insurance simulated Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Blackstone Insurers is incorporated in New York, where it has also received a certificate of authority to transact insurance. what type of insurer is Blackstone in New York? - Answer -Admitted insurer Jennifer applied for a $500,000 whole life insurance policy. the insurer issued the policy but classified jennifer as a substandard risk, resulting in a higher premium. which type of poli...

NC Insurance Licensing Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS P is a producer who notices 5 questions on a life application were not answered. What actions should P take? - Answer -Set up a meeting with the applicant to answer the remaining questions Which of the following does Social Security NOT provide benefits for? - Answer -Dismemberment An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums - An...

NC Life Insurance Exam Prep Questions with Complete Solutions 2024/2025 An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - Correct Answer A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - Correct Answer Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? - Correct Answer Premiums are waived if payor becomes disabled ...

NC Life Insurance Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Fraternal Benefit Society - Answer -An organization of people who share a month ethnic, religious or vocational affiliation. They are entities they have no capital stock, have a representative form of government. They exist not for profit but solely for the benefit of their members and their beneficiaries and operate on a lodge system. Fraternal Benefit Societies - Answer -Agents of these societ...

NC LIFE insurance state exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS CREDIT LIFE - Answer -a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. BUY-SELL AGREEMENTS - Answer -a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement INSURABLE INTEREST - Answer -...

NC Life Insurance Practice Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS All of the following are included within the Insurance Commissioner's duties EXCEPT a) Conducting investigation of all domestic insurers. b) Reviewing the insurers' annual reports. c) Writing North Carolina insurance laws. d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforc...

NC Life Exam Simulation | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Which of the following actions require a policyowner to provide proof of insurability in an Adjustable Life policy? - Answer -ANSWER: increase face amount 2. If the Commissioner of insurance finds that a licensed person has used fraudulent, coercive, or dishonest practices or has proved to be incompetent, untrustworthy, or financially irresponsible, the law allows the Commissioner to - Answer ...

Comprehensive Final Examination- NC Life Agent Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Which type of life policy contains a monthly mortality charge as well as self-directed investment choices? - Answer -Variable Universal Life If X wants to buy $50,000 worth of permanent protection on his/her spouse and $25,000 worth of 10-year Term coverage on X under the same policy, the applicant should purchase - Answer -A Whole Life Policy with Other Insured Rid...

NC Life Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS The validity of the policy cannot be conested once it has been in force for at least how many years after its date of issue? - Answer -2 Years A rider attached to a life insurance policy that provides coverage on the insured's family members is called the - Answer -Other-insured rider When an insured makes truthful statements on the application for insurance and pays the required premium, it is know as ...