Sc insurance exam - Study guides, Class notes & Summaries

Annuity Certain - ANSWERSMaria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called Survivorship Life - ANSWERSThe type of policy which pays on the death of the last person is called Malign another insurer - ANSWERSDefamation occurs when a producer makes a false statement intended to A 70 year old NOT eligible for Social Security *You are not eligible to receive Medicare Part A benefits at age 65 or older if you are el...

SC P&C Insurance Exam Study Guide Questions and answers latest update

Incontestable period Probation period Reinstatement period Grace period - ANSWER_Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable Preferred - ANSWER_Preferred Which of these is affected by the frequency of an insurance policy's premium payments? Settlement options Cash value Death benefit Cost - ANSWER_Cost A Buyer's Guide MUST display year-by-y...

Abandonment - ANSWER-the abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability - ANSWER-Liability that arises from an extremely dangerous situation. Often found in cases involving explosives. Also known as "strict" liability. For example, you are absolutely liable if you keep a wild animal as a pet. Accident - ANSWER-an unplanned, unforseen event which occurs suddenly and at a specific place Actual Cash Value - ANSW...

SC Insurance Exam 2024Questions & AnswWhich of the following is Medicare Part B also known as? - ANSWERSMedical Insurance If the annuitant dies before the annuity start date - ANSWERSthe premiums paid plus interest earned will be given to the beneficiary An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if - ANSWERSthe insured outlived the beneficiary Naming a contingent beneficiary as "all ...

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Which of the following is Medicare Part B also known as? - ANSWERSMedical Insurance If the annuitant dies before the annuity start date - ANSWERSthe premiums paid plus interest earned will be given to the beneficiary An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if - ANSWERSthe insured outlived the beneficiary Naming a contingent beneficiary as "all surviving children" is described by w...

SC P&C Insurance Exam Study Guide(A set of terms and descriptions from the exam study guide)With Correct Answers!!

SC LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - correct answer Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard

What factors are considered in determining rates? - ANSWER-Age Medical history Occupation Sex and Gender What's shown by the use of deductible, co pays and self assurance - ANSWER-Risk Retention A negative more proned to losses method used as protection to decline an applicant - ANSWER-Adverse selection A non participating policy will issue dividends to the policy holder also known as ? - ANSWER-The Owner Which type is non taxable due to surplus premiums paid into policy? - ANSWER-A...