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NC Life Insurance Exam Prep Questions and Answers Already Passed An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? Premiums are waived if payor becomes disabled An agent who signs a blank contract application or...

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What are the four required elements of an insurance contract? - ANSWER Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? - ANSWER General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life insurance? - ANSWER At the time of application. When does coverage begin, if the premium was...

What are the four required elements of an insurance contract? Answer - Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? Answer - General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life insurance? Answer - At the time of application. When does coverage begin, if the premium was s...

AZ Life Insurance Exam Prep Study Guide with 100% Complete Solutions -Secondary A Contingent Beneficiary has the __________ right to collect an Insured's death benefit. -A uniform set of insurance regulations What does the Producer Licensing Model Act (PLMA) provide? -A uniform set of insurance regulations -Disability income -A double payout -Private Life Maturity Assets -They are known for their very flexible payment terms All but which of the following are true about Whole...

Nevada Life and Health License Exam Prep Questions Latest Update Graded A+ What are the four required elements of an insurance contract? Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life insurance? At the time of appl...

Life Insurance Exam Prep Questions and Answers (2023 / 2024) (Verified Answers) An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? Premiums are waived if payor becomes disabled An agent who signs a blank contract...

Kentucky Life and Health Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (Latest 2024/ 2025 Update) Q: what is loss exposure state of being subject to a passible loss Q: what does it mean to be defineable Answer: definite as to time, cause and location Q: what does it mean to be measurable Answer: companies will state how much they will pay for a covered loss Q: is loss due to war covered Answer: no Q: can accidental b...

Kentucky Life Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update) QUESTION Nonforfeiture Options Three options available by law to policyowners that enable them to recover a policy's cash-value upon surrender of that policy. (1) Cash (2) Reduced Paid-Up Insurance (3) Extended Term Insurance QUESTION Immediate Annuities Answer: - Can only be funded using the Single Premium payment method - First income payment is ma...

Nevada Life and Health License Exam Prep Questions 2024 With 100% Correct Answers!!