NWM North Carolina Life Insurance test (Questions + Answers) Solved
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Course
NWM North Carolina Life Insurance
Institution
NWM North Carolina Life Insurance
A 20 year family income policy was purchased effective april 1 2001. The insured died 4 months later, on
august 1, 2001. The beneficiary receives monthly income for - 19 years 8 months
A deferred annuity is surrendered prior to annuitization. Which of the following best describes the non
forfeit...
NWM North Carolina Life Insurance
Exam
A 20 year family income policy was purchased effective april 1 2001. The insured died 4 months later, on
august 1, 2001. The beneficiary receives monthly income for - 19 years 8 months
A deferred annuity is surrendered prior to annuitization. Which of the following best describes the non
forfeiture value of the annuity? - the surrender value should be equal to 100% of the premium
paid minus any prior withdrawals and surrender charges
A man decided to purchase $100,000 annually renewable term life policy to provide additional
protection until his children finished college. He discovered that this policy - required a premium
increase each renewal
A policy which pays monthly income upon the death of the breadwinner for a predetermined number of
years after death, plus a lump sum at death, and combines level term and whole life is known as which
policy? - Family maintenance
A private investigator has been hired by an insurance company to obtain a character report on an
insurance applicant. The investigator contacts the applicant and requests an interview stating that he is
conducting a research for a publication. The applicant permits the interview and unknowingly gives
information that will be used in the underwriting decision. Which of the following does this scenario
describe? - Pretext interview
a return of premium term life policy is written as what type of term coverage? - increasing
A rider attached to a life insurance policy that provides coverage on the insured's family members is
called the - Other-insured rider
A straight life policy has what type of premium - a level annual premium for the life of the insured
, A Universal Life Insurance policy is best described as a/an - Annually Renewable Term policy with
a cash value account.
All of the following are characteristics of group life insurance except - Premiums are determined
by the age, sex and occupation of each individual certificate holder.
All of the following are dividend options EXCEPT - Fixed period installments
All of the following are true regarding a decreasing term policy EXCEPT - The payable premium
amount steadily declines throughout the duration of the contract
all of the following are true regarding the exceptions to the notice of requirements except - when
an agent discloses a policyholder's medical information to an insurer
all of the following are true regarding the exceptions to the notice requirements except - when an
agent discloses a policyholder's medical information to an insurer
All of the following are true regarding the guaranteed insurability rider EXCEPT - the rider is
available to all insureds with no additional premium
all of the following are true regarding the guaranteed insurability rider except - this rider is
available to all insureds with no additional premium
all of the following entities regulate variable life policies except - the guaranty association
All of the following identify purposes of the insurance information and privacy act except - to
establish fair and marketable advertisement procedures
All of the following statements are true regarding installments for a fixed amount EXCEPT - the
payments will stop when the annuitant dies
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