Exam (elaborations)
NC Insurance Licensing Exam Questions and Answers Graded A+
- Course
- Institution
NC Insurance Licensing Exam
[Show more]
Content preview
NC Insurance Licensing ExamP is a producer who notices 5 questions on a life application were not answered. What
actions should P take? - answer Set up a meeting with the applicant to answer the
remaining questions
Which of the following does Social Security NOT provide benefits for? - answer
Dismemberment
An Accident/Health policyholder has ____ days to return the policy and receive a full
refund on premiums - answer10
Under a Renewable Term policy, - answerthe renewable premium is calculated on the
basis of the insured's attained age
Which of the following BEST describes a short-term medical expense policy? - answer
Nonrenewable
W is a 39-year old female who just purchased an annuity to provide income for life
starting at age 60. All of these would be acceptable annuity choices EXCEPT a(n) -
answerImmediate annuity
How are Roth IRA distributions normally taxed? - answerDistributions are received tax-
free
An insurance applicant was recently denied insurance coverage. The applicant is
requesting access from the insurer to recorded personal information regarding this
decision. Under the Information and Privacy Protection Act, the insurer MUST make the
information available within ___ business days - answer30
What is a warranty? - answeris a statement guaranteed to be true
S is a life insurance policyowner and enters into a written agreement to receive
immediate cash in exchange for the sale and transfer of her life insurance policy. This
agreement is referred to as a(n) - answerViatical Settlement
How is the Life and Health Insurance Guaranty Associated funded? - answerfrom
member companies
Quarterly premium payments increase the annual cost of insurance because -
answerinterest to the insurer is decreased while the administrative costs are increased
, Who does an insurance broker in North Carolina represent? - answerInsured
When an existing life insurance policy is being reissued with a reduction in cash value,
the agent must sign the - answerNotice Regarding Replacement of Life Insurance of
Annuity
Whole Life insurance policies are contractually guaranteed to provide each of the
following, EXCEPT - answerpartial withdrawal features beyond a surrender charge
period
K works for XYZ Clothing Store from September through December each year. K works
45 hours a week for this period of time. The employer's Group Policy would consider K -
answernot eligible for the insurance because as a seasonal employee K does not meet
the definition of "employee" under NC law
M is insured under a basic Hospital/Surgical Expense policy. A physician performs
surgery on M. What determines the claim M is eligible for? - answerDetermined by the
terms of the policy
Which health policy clause specifies the amount of benefits to be paid? -
answerInsuring
In order to establish a Health Reimbursement Arrangement (HRA), it MUST - answerbe
established by the employer
Defamation occurs when an agent makes a false statement intended to - answermalign
another insurer
Which of these circumstances REQUIRE an insurer to clearly specify questions
designed to obtain information solely for marketing research? - answerAny insurance
transaction
If its employees share in the cost of insurance, what type of group life insurance plan
would a corporation have? - answerContributory
The investment gains from a Universal Life Policy usually go toward: - answerthe cash
value
The Health Insurance Portability and Accountability Act (HIPAA) gives privacy
protection for: - answerhealth information
In North Carolina, an agent obtains his/her license from the - answerCommissioner of
Insurance
In North Carolina, a health policy that is paid on a quarterly basis requires a grace
period of - answer31 days
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 julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now