Exam (elaborations)
South Carolina Insurance Exam 2024 with 100% Correct Answers VERIFIED
- Course
- Institution
South Carolina Insurance Exam 2024 with 100% Correct Answers VERIFIED
[Show more]
Content preview
South Carolina Insurance Exam Questions.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/South%20Carolina%20South Carolina Insurance Exam Questions
1. An insurer is REQUIRED to offer which of the following to each long-termcare
applicant at the time of purchase?
ANS Inflation protection
2. Which of these riders will pay a death benefit if the insured's spousedies?
ANS Family term insurance rider
3. Disability income plans which require that the insurer can NEVER changeor alter
premium rates are usually considered
ANS Nonconcellable
4. What is the required action to be taken by a South Carolina licensee beforeoperating
under an assumed business name?
ANS Notify the Director
5. The suicide clause of a life insurance policy states that if an insured com- mits suicide
within a stated period from the policy's inception, the insurer willonly be liable for a
return of premiums paid
ANS minus indebtedness and without interest
1/7
1 of 19 8/8/2024, 3:37
,South Carolina Insurance Exam Questions.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/South%20Carolina%20
6. If an annuitant dies before the annuity start date
ANS the premiums paid plusinterest will be given to the beneficiary
7. The purpose of the Coordination of Benefits provision in group accidentand health
plans is to
ANS avoid overpayment of claims
8. The typical long-term care insurance policy is designed to provide a mini-mum of
year(s) of coverage
ANS 1
9. Decreasing term life insurance is often used to
ANS provide coverage for a homemortgage
10. Which type of life insurance policy pays the face amount at the end of thespecified
period if the insured is still alive?
ANS Endowment policy
11. A life insurance policy normally contains a provision that restricts cov-erage in the
event of death under all of the following situations EXCEPT
ANS -fare-paying passenger
12. All policies must be guaranteed renewable.
ANS long-term care
2/7
2 of 19 8/8/2024, 3:37
,South Carolina Insurance Exam Questions.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/South%20Carolina%20
13. What type of injury would NOT be covered under a health insurancepolicy?
ANS Work related
14. All of these are common exclusions to a life insurance policy EXCEPT
ANS ac-cidental health
15. Which of the following decisions would a Health Savings Account (HSA)owner NOT
be able to make?
ANS The amount contributed by the employer
16. A whole life insurance policy accumulates cash value that becomes
ANS thepolicy loan value which the insured may borrow against
17. Mike has inherited his father's traditional IRA. As beneficiary, he will pay
taxes on any money withdrawn.
ANS income
18. An interest-sensitive life insurance policyowner may be able to withdrawthe policy's
cash value interest free.The provision that allows this is called
ANS -Partial Surrender
3/7
3 of 19 8/8/2024, 3:37
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BESTGOODIES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now