NC Life Bundled Exams 2024 with complete solutions

nc life practice exam Questions With 100% Correct Answers 2024 Grace period provision. - answerWhich of the following features allows an insurance policy to remain in force for a specific number of days beyond the premium due date? Make collateral assignment to the insurer - answerReinstatement ...

NC Life Insurance Exam Prep Chapter I Questions With 100% Correct Answers 2024 Liquidity - answerindicates a company's ability to make unpredictable payouts to policy owners Insurance - answerevolved to produce a practical solution to economic uncertainties and losses Reserves - answerthe acc...

NC Life Insurance Annuities Questions With 100% Correct Answers 2024 Deferred - answerwithheld or postponed until a specified time or event in the future Life contingency - answerDependent upon whether or not the insured is alive Liquidation of an Estate - answerconverting a person's net worth ...

NC Life Exam Simulation Questions With 100% Correct Answers 2024 Which of the following actions require a policyowner to provide proof of insurability in an Adjustable Life policy? - answerANSWER: increase face amount 2. If the Commissioner of insurance finds that a licensed person has used frau...

NC Life Exam Questions With 100% Correct Answers 2024 The validity of the policy cannot be conested once it has been in force for at least how many years after its date of issue? - answer2 Years A rider attached to a life insurance policy that provides coverage on the insured's family members ...

NC Life Exam Questions With 100% Correct Answers 2024 Post-tax dollar contributions are found in: - answerRoth IRA investments How do life insurance companies handle cases where the insured commits suicide within the contract's stated Contestable period? - answerClaims are denied under the Suic...

NC Life Exam Questions With 100% Correct Answers 2024 K purchased a Life insurance policy in 1986 which paid 10% interest in the early years of the policy. Twenty years after the purchase, she received a notice from the insurer stating that the policy will soon terminate unless a much-higher pre...

NC Life Insurance Exam Questions With 100% Correct Answers 2024 Fraternal Benefit Society - answerAn organization of people who share a month ethnic, religious or vocational affiliation. They are entities they have no capital stock, have a representative form of government. They exist not for pr...

NC Life Exam Questions With 100% Correct Answers 2024 Commercial Insurers - answer(also known as private insurance companies) are in the business of selling insurance for a profit. Multi-line insurer - answerAn insurance company selling more than one line of insurance Stock Companies - answerar...

NC LIFE insurance State Exam Questions With 100% Correct Answers 2024 CREDIT LIFE - answera special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. BUY-SELL AGREEMENTS - answera legal contract that determines what will...

NC Life Insurance Practice Exam Questions With 100% Correct Answers 2024 All of the following are included within the Insurance Commissioner's duties EXCEPT a) Conducting investigation of all domestic insurers. b) Reviewing the insurers' annual reports. c) Writing North Carolina insurance law...

NC Life Exam Simulation Questions With 100% Correct Answers 2024 Which of the following actions require a policyowner to provide proof of insurability in an Adjustable Life policy? - answerANSWER: increase face amount 2. If the Commissioner of insurance finds that a licensed person has used frau...

NC Life insurance state exam study guideline With Latest Term Insurance - answerUsed for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on current (attained)age. Term Insurance - answerExpire's at a certain age/Time in the future. May be renewable up ...

NC State LIFE Insurance Exam With Complete Solutions Insurable Interest - answerSomething of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - answerWrong person takes medical examinat...