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South Carolina Insurance Exam 2024 with 100% Correct Answers VERIFIED
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South Carolina Insurance Exam 2024 with 100% Correct Answers VERIFIED
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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
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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
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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
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