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2024 NORTH CAROLINA LIFE AND HEALTH STATE EXAM SIMULATOR WITH CORRECT ANSWERS
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2024 NORTH CAROLINA LIFE AND HEALTH STATE EXAM SIMULATOR WITH CORRECT ANSWERS
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2024 NORTH CAROLINA LIFE ANDHEALTH STATE EXAM SIMULATOR
WITH CORRECT ANSWERS
Which statement is TRUE regarding a group accident & health policy issued
to an employer? - CORRECT ANSWERS-- The employer receives the policy
and each employee is issued a certificate
Which of these is considered a true statement regarding Medicaid? -
CORRECT ANSWERS-- Funded by both state and federal governments
K has an Accidental Death and Dismemberment (AD&D) insurance policy
where her husband is beneficiary and her daughter is contingent beneficiary.
Under the Common Disaster clause, if K and her husband are both killed in
an automobile accident, where would the death proceeds be directed? -
CORRECT ANSWERS-- Daughter
M purchased an Accidental Death and Dismemberment (AD&D) policy and
named his son as beneficiary. M has the right to change the beneficiary
designation at anytime. What type of beneficiary is his son? - CORRECT
ANSWERS-- Revocable
Circulation of any oral or written statement or any pamphlet, circular, article,
or literature that is false or maliciously critical of or derogatory to the
financial condition of an insurer is known as - CORRECT ANSWERS--
Defamation
Every Group Health Policy providing benefits for chemical dependency
treatments must include, for the life of the contract, a - CORRECT ANSWERS--
Minimum benefit of $16,000
P and Q are married and have three children. P is the primary beneficiary on
Q's Accidental Death and Dismemberment (AD&D) policy and Q's sister R is
the contingent beneficiary. P, Q, and R are involved in a car accident and Q
and R are killed instantly. The Accidental Death benefits will be paid to: -
CORRECT ANSWERS-- P only
Which life insurance rider typically appears on a Juvenile life insurance
policy? - CORRECT ANSWERS-- Payor Benefit rider
, When an insured changes to a more hazardous occupation, which disability
policy provision allows an insurer to adjust policy benefits and rates? -
CORRECT ANSWERS-- Change of occupation provision
The funds used by the Life and Health Insurance Guaranty Association to
carry out its purpose are obtained from the - CORRECT ANSWERS-- Member
companies
What is the purpose of the Time of Payment of Claims provision? - CORRECT
ANSWERS-- Prevents delayed claim payments made by the insurer
Insurance agents MUST obtain a license from North Carolina's - CORRECT
ANSWERS-- Commissioner of Insurance
A life insurance policy can be reinstated upon meeting company
requirements within a maximum of - CORRECT ANSWERS-- 5 years
When funds are shifted straight from one IRA to another IRA, what
percentage of the tax is withheld? - CORRECT ANSWERS-- None
Which policy requires an agent to register with the National Association of
Securities Dealers (NASD) before selling? - CORRECT ANSWERS-- Variable
Life
Which of these characteristics is consistent with a Straight Life policy? -
CORRECT ANSWERS-- Premiums are payable for as long as there is insurance
coverage in force
If a company accepts a renewal premium payment that would extend
coverage beyond the policy's MAXIMUM age limit, the company - CORRECT
ANSWERS-- Must continue the coverage to the end of the period of time for
which the premium was accepted
Making false statements about the financial condition of another insurance
company is called - CORRECT ANSWERS-- Defamation
The Accidental Death and Dismemberment (AD&D) provision in a life
insurance policy would pay additional benefits if the insured: - CORRECT
ANSWERS-- Is blinded in an accident
Insurers organized under the laws of North Carolina are called - CORRECT
ANSWERS-- Domestic companies
A young, married teacher has two children and owns a Whole Life policy. If
the teacher wants an increasing Death Benefit to protect against inflation,
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