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NC Life Insurance Exam Prep Questions and Answers 100% Pass
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NC Life Insurance Exam Prep Questions and Answers 100% Pass An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - ANSWER-A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - ANSWER-Sharing commissions with oth...

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  • November 19, 2024
  • 31
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • nc life insurance exam prep questions and answers

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  • NC life insurance
  • NC life insurance

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NC Life Insurance Exam Prep
Questions and Answers 100% Pass

An agent who sells an individual life insurance policy in NC MUST deliver to the

policyowner - ANSWER✔✔-A policy summary and buyer's guide


All of the following actions are considered rebating EXCEPT - ANSWER✔✔-Sharing

commissions with other licensed and appointed agents


What benefit does the Payor Clause on a Juvenile Life Policy provide? - ANSWER✔✔-

Premiums are waived if payor becomes disabled


An agent who signs a blank contract application or policy of insurance - ANSWER✔✔-

Is guilty of a misdemeanor


A person is required to be AT LEAST how old before he or she is licensed as an agent in

NC? - ANSWER✔✔-18


In a life insurance policy, which feature states that the policy will not cover certain

risks? - ANSWER✔✔-Exclusion


Whole Life insurance are contractually guaranteed to provide each of the following

EXCEPT? - ANSWER✔✔-Partial withdrawal features beyond a surrender charge period



Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/31

,A term life insurance policy matures - ANSWER✔✔-Upon the insured's death during

the term of the policy


Which of these provisions require proof of insurability after a policy has lapsed? -

ANSWER✔✔-Reinstatement


How does a typical Variable Life Policy Investment account grow? - ANSWER✔✔-

Through mutual funds, stocks, and bonds


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 - ANSWER✔✔-Defamation


All of the following are considered characteristics describing the nature of an insurance

contract EXCEPT - ANSWER✔✔-Bilateral


A 15-year mortgage is best protected by what kind of life policy? - ANSWER✔✔-15-

year decreasing term


Companies in NC may transact solicitations for insurance ONLY through -

ANSWER✔✔-Licensed agents


Which of these retirement plans can be started by an employee, even if another plan is

in existence - ANSWER✔✔-Individual Retirement Account (IRA)


A life policy with a death benefit that can fluctuate according to the performance of its

underlying investment portfolio is referred to as - ANSWER✔✔-Variable life

Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/31

,If an annuity is terminated prior to the beginning of the income payment period, the

contract owner receives - ANSWER✔✔-The contract surrender value at that time


A provision in a life insurance policy that pays the policy owner an amount that doesn't

surpass the guaranteed cash value is called the - ANSWER✔✔-Policy Loan Provision


When does a Guaranteed Insurability Rider allow the insured to buy additional

coverage? - ANSWER✔✔-At future dates specified in the contract with no evidence of

insurability required


T, age 70, withdrawals cash from a profit-sharing plan and purchases a Straight Life

Annuity. What will this transaction provide? - ANSWER✔✔-Income that cannot be

outlived by the owner


A level premium indicates - ANSWER✔✔-The premium is fixed for the entire duration

of the contract


K has a life 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? -

ANSWER✔✔-Daughter


Which of the following statements is correct about the period in which a Term Policy

can be converted? - ANSWER✔✔-It can be changed by the insured




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 3/31

, What group term life feature permits an individual to depart from the group and

continue to be converted without providing evidence of insurability? - ANSWER✔✔-

Conversion


An insured covered by life insurance has just died. What will happen if the primary

beneficiary had already died before the insured and contingent beneficiary? -

ANSWER✔✔-Proceed will go to the contingent beneficiary


S buys a $10,000 Whole Life Policy in 2003 and pays an annual premium of $100. S dies

5 years later in 2008 and the insurer pays the beneficiary $10,500. What kind of rider did

S include on the policy? - ANSWER✔✔-Return of Premium rider


One of the stated purposes of the Life and Health Insurance Guaranty Association is to -

ANSWER✔✔-Assist in the prevention of insurer insolvencies


The following acts are examples of unfair methods of competition and deceptive

practices in the business of insurance EXCEPT the use for - ANSWER✔✔-Comparisons

showing that a policy has higher benefits


Which of the following policies combines investment choices with a form of Term

coverage? - ANSWER✔✔-Variable universal life


Under a renewable term policy, - ANSWER✔✔-The renewal premium is calculated on

the basis of the insured's attained age




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 4/31

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