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South Carolina Life/Health Final Exam 2 Exam Prep Questions And Answers ()
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South Carolina Insurance Exam Questions Exam Prep Questions AndAnswers (202472025)
An insurer is REQUIRED to offer which of the following to each long-term care applicant at the
time of purchase? - ✔✔Inflation protection
Which of these riders will pay a death benefit if the insured's spouse dies? - ✔✔Family term
insurance rider
Disability income plans which require that the insurer can NEVER change or alter premium rates
are usually considered - ✔✔Nonconcellable
What is the required action to be taken by a South Carolina licensee before operating under an
assumed business name? - ✔✔Notify the Director
The suicide clause of a life insurance policy states that if an insured commits suicide within a
stated period from the policy's inception, the insurer will only be liable for a return of premiums
paid - ✔✔minus indebtedness and without interest
If an annuitant dies before the annuity start date - ✔✔the premiums paid plus interest will be given
to the beneficiary
The purpose of the Coordination of Benefits provision in group accident and health plans is to -
✔✔avoid overpayment of claims
The typical long-term care insurance policy is designed to provide a minimum of___year(s) of
coverage - ✔✔1
Decreasing term life insurance is often used to - ✔✔provide coverage for a home mortgage
Which type of life insurance policy pays the face amount at the end of the specified period if the
insured is still alive? - ✔✔Endowment policy
, A life insurance policy normally contains a provision that restricts coverage in the event of death
under all of the following situations EXCEPT - ✔✔fare-paying passenger
All _____ policies must be guaranteed renewable. - ✔✔long-term care
What type of injury would NOT be covered under a health insurance policy? - ✔✔Work related
All of these are common exclusions to a life insurance policy EXCEPT - ✔✔accidental health
Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to
make? - ✔✔The amount contributed by the employer
A whole life insurance policy accumulates cash value that becomes - ✔✔the policy loan value
which the insured may borrow against
Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any
money withdrawn. - ✔✔income
An interest-sensitive life insurance policyowner may be able to withdraw the policy's cash value
interest free. The provision that allows this is called - ✔✔Partial Surrender
Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000.
Which of these statements is true? - ✔✔The face amount and premium will remain constant over
the 10-year period
Kristi purchases an annuity that will pay her husband an income for 15 years. If he dies, this income
will become payable to their children for the remainder of the period. Kristi has what kind of
annuity? - ✔✔Temporary annuity certain
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