South Carolina Life/Health Final Exam 2 Questions With Solutions 100% Correct
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Course
South Carolina Property And Casualty Insurance
Institution
South Carolina Property And Casualty Insurance
South Carolina Life/Health Final Exam 2
Questions With Solutions 100% Correct
Insurers may not discriminate based on genetic information provided in the plan. Discriminatory
acts include terminating or limiting the coverage, refusing to renew the policy, imposing a
waiting limit, or establish...
South Carolina Life/Health Final Exam 2
Questions With Solutions 100% Correct
Insurers may not discriminate based on genetic information provided in the plan. Discriminatory
acts include terminating or limiting the coverage, refusing to renew the policy, imposing a
waiting limit, or establishing new premium rates.
Which of the following is required for a contributory plan?
Select one:
a. The employer pays all fees and premiums.
b. 50% participation of eligible employees
c. 75% participation of eligible employees
d. 100% participation of eligible employees 75% participation of eligible employees.
A contributory plan is paid for partially by the employer and partially by the employee. 75%
participation of eligible employees is required for a contributory plan.
All of the statements are true about universal life policies, EXCEPT:
Select one:
a. The actual cost of the insurance is based on annually renewable term life insurance.
, South Carolina Life/Health Final Exam 2
Questions With Solutions 100% Correct
b. The policy owner can increase or decrease the death benefit during the policy term.
c. Universal life policies are only subject to the interest rates stated in the contract.
d. The interest earned by the cash accounts has a guaranteed minimum. Universal life
policies are only subject to the interest rates stated in the contract.
A universal life policy is subject to 2 different interest rates: the current annual rate, which varies
with current market conditions, and the rate stated in the contract.
The Fair Credit Reporting Act does not serve the purpose of:
Select one:
a. Protecting consumers credit information
b. Protect consumers from identity theft
c. Report fraud alerts
d. Prohibits disclosure to anyone not legally authorized Protect consumers from identity
theft.
The act itself does not protect consumers from identity theft.
, South Carolina Life/Health Final Exam 2
Questions With Solutions 100% Correct
What option does the Director have if an insurance company becomes insolvent?
Select one:
a. Revoke the company's license
b. Fine the company
c. Jail the officers of the company
d. All of the above Revoke the company's license.
The Director is entitled to revoke or suspend the licenses of insurers if he is of the opinion that
the insurance company has become insolvent, is threatened with insolvency, or falling behind on
its monetary obligations.
What is the only place that a blank insurance policy can be signed?
Select one:
a. At the insured's home
b. At the insurers office
c. At a bank
d. In a coin-operated machine In a coin-operated machine.
, South Carolina Life/Health Final Exam 2
Questions With Solutions 100% Correct
No producer may sign any blank insurance policies except with trip, travel, or transportation
ticket policies of insurance covering accidental personal or property injury, loss, or damage. And
even then, the producer must use coin-operated machines.
Which of the following is not normally an agent responsibility?
Select one:
a. Delivering the policy to the insured
b. Presenting the insured with a Buyer's guide
c. Presenting a financial accounting of the insurer to department of insurance.
d. Explaining policy benefits and features to the insured. Presenting a financial accounting
of the insurer to the department of insurance.
Presenting a financial accounting of the insurer to the department of insurance is not an agent
responsibility. All of the other items listed are normal responsibilities expected from an agent.
All of the following are true regarding comprehensive dental plans, EXCEPT:
Select one:
a. Comprehensive plans have coinsurance.
b. Comprehensive plans have deductibles.
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