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Life, Accident, and Health Insurance Exam (SC) questions and verified correct answers 2024
What are the minimum requirements to become a licensed producer in South Carolina? - correct answer - at least 18 years old 
- good moral character 
- clean SLED background check 
- passed LAH exam 
- completed DOI registration application and paid fee 
 
What documentation is requested by the SC Department of Insurance to process your application? - correct answer DOI confirmation page including evidence of $25 fee paid 
 
Fingerprint Check 
 
PSI original exam score with a 70% of higher 
 
...
- Exam (elaborations)
- • 21 pages •
What are the minimum requirements to become a licensed producer in South Carolina? - correct answer - at least 18 years old 
- good moral character 
- clean SLED background check 
- passed LAH exam 
- completed DOI registration application and paid fee 
 
What documentation is requested by the SC Department of Insurance to process your application? - correct answer DOI confirmation page including evidence of $25 fee paid 
 
Fingerprint Check 
 
PSI original exam score with a 70% of higher 
 
...
SC Insurance Brokers Exam questions and 100% correct answers 2024
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...
- Exam (elaborations)
- • 12 pages •
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...
SC LAH Insurance Exam questions and verified correct answers 2024
The SC Director of Insurance is - correct answer Appointed 
 
The Director must be approved by the - correct answer South Carolina Senate 
 
The Director has the same powers as a - correct answer Circuit Court Judge, but only in insurance 
 
A producer must be working for an insurance company to be licensed? - correct answer False 
 
A producer's license is valid for how long? - correct answer Indefinitely 
 
In order to keep your license, it must be - correct answer renewed every 2 years 
 
Af...
- Exam (elaborations)
- • 6 pages •
The SC Director of Insurance is - correct answer Appointed 
 
The Director must be approved by the - correct answer South Carolina Senate 
 
The Director has the same powers as a - correct answer Circuit Court Judge, but only in insurance 
 
A producer must be working for an insurance company to be licensed? - correct answer False 
 
A producer's license is valid for how long? - correct answer Indefinitely 
 
In order to keep your license, it must be - correct answer renewed every 2 years 
 
Af...
Insurance Test SC Specific exam questions and complete correct answers 2024
Producer - correct answer An insurance producer is any person who sells, solicits, or negotiates insurance on behalf of an insurer. 
 
If a producer changes their address, they have how many days to notify the Department of Insurance of the change? - correct answer 30 
 
What option does the Director have if an insurance company becomes insolvent? - correct answer Revoke the company's license 
 
Who pays the biennial appointment fee for each agent? - correct answer The appointing insurer 
 
Ref...
- Exam (elaborations)
- • 7 pages •
Producer - correct answer An insurance producer is any person who sells, solicits, or negotiates insurance on behalf of an insurer. 
 
If a producer changes their address, they have how many days to notify the Department of Insurance of the change? - correct answer 30 
 
What option does the Director have if an insurance company becomes insolvent? - correct answer Revoke the company's license 
 
Who pays the biennial appointment fee for each agent? - correct answer The appointing insurer 
 
Ref...
SC P&C Insurance Exam Study Guide questions and 100% correct answers
Abandonment - correct answer the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
Absolute Liability - correct 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 - correct answer an unplanned, unforseen event which occurs suddenly and at a specific place 
 
...
- Exam (elaborations)
- • 19 pages •
Abandonment - correct answer the abdication of insured property into the hands of another, or into the possession of no one in particular 
 
Absolute Liability - correct 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 - correct answer an unplanned, unforseen event which occurs suddenly and at a specific place 
 
...
SC Accident. Health, and Life Insurance Exam questions and verified correct answers 2024
Annuity Certain - correct answer Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called 
 
Survivorship Life - correct answer The type of policy which pays on the death of the last person is called 
 
Malign another insurer - correct answer Defamation 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 6...
- Exam (elaborations)
- • 10 pages •
Annuity Certain - correct answer Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called 
 
Survivorship Life - correct answer The type of policy which pays on the death of the last person is called 
 
Malign another insurer - correct answer Defamation 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 6...
South Carolina Property and Casualty Insurance Exam questions and verified correct answers 2024
The process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? - correct answer Underwriting 
 
The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible for the cost of the examination? - correct answer Foreign company 
 
Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Inj...
- Exam (elaborations)
- • 17 pages •
The process an insurer uses to evaluate applications and determine if a policy should be issued and on what terms, conditions, and rate is known as? - correct answer Underwriting 
 
The Director is conducting an examination of a foreign company transacting business in South Carolina. Who is responsible for the cost of the examination? - correct answer Foreign company 
 
Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Inj...
SC life insurance exam study set questions and verified correct answers 2024
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 
Substandard 
Acceptable 
Preferred - correct answer Preferred 
 
Which of these is affected by the frequenc...
- Exam (elaborations)
- • 114 pages •
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 
Substandard 
Acceptable 
Preferred - correct answer Preferred 
 
Which of these is affected by the frequenc...
Final Exam - South Carolina Life and Health questions and 100% correct answers 2024
A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay - correct answer 100% of the billed amount 
 
What does Coordination of Benefits allow? - correct answer Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid 
 
A waiver of premium rider allows an insured to waive premium payments if the insured is - correct answer completely and per...
- Exam (elaborations)
- • 15 pages •
A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay - correct answer 100% of the billed amount 
 
What does Coordination of Benefits allow? - correct answer Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid 
 
A waiver of premium rider allows an insured to waive premium payments if the insured is - correct answer completely and per...
SC Life Insurance Exam questions with complete correct answers 2024
The 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 creditors after the death o...
- Exam (elaborations)
- • 24 pages •
The 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 creditors after the death o...
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