Nc insurance Study guides, Class notes & Summaries

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 to a certain age or date with out a phyical Exam. Level Term Insurance - answerTerm insurance can be Renewed annually. Has a level Face Amount at renewal, Premiums goes up. Can be purchased for a Yea...

NC Drivers Ed Practice Written Exam Questions With 100% Correct Answers 2024 A driver license is required for the following? A.) Sitting in the driver's seat of a car while the engine is running. B.) Steering a car while it is being pushed or towed by another vehicle. C.) Both A and B. D.) Neither A nor B. - answerC If a law enforcement officer swears that a driver has refused a legal chemical test, the Division of Motor Vehicles must: A.) Place the driver on probation. B.) Wait for a ...

NC Life Insurance Cash Value Money accumulation in a permanent policy which the policy owner may borrow as a policy loan or receive if the policy is surrendered before maturity. Upon maturity or endowment the cash value is paid to the policy owner. Cash value may be used as a source of supplemental income. Non- Participating Policies Insurance policies which do not pay dividends to policy owners. Participating Policies Policies that may pay annual dividends to policy owners. ...

NC Life insurance state exam study guideline Questions With 100% Correct Answers 2024 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 to a certain age or date with out a phyical Exam. Level Term Insurance - answerTerm insurance can be Renewed annually. Has a level Face Amount at renewal, Premiums goes ...

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 be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement INSURABLE INTEREST - answerto purchase insurance the policy owner ...

NC life insurance simulated Exam Questions With 100% Correct Answers 2024 Admitted insurer - answerBlackstone Insurers is incorporated in New York, where it has also received a certificate of authority to transact insurance. what type of insurer is Blackstone in New York? Legal Delivery - answerJennifer applied for a $500,000 whole life insurance policy. the insurer issued the policy but classified jennifer as a substandard risk, resulting in a higher premium. which type of policy deliver...

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 laws. d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforcing the law is. answerc) Writing North...

NC Life Insurance Exam Prep With 100% Correct Answers An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - answerA policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - answerSharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? - answerPremiums are waived if payor becomes disabled An agent who signs a blank contract application ...

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 accounting measurement of an insurer's future obligations to its policyholders. They are classified as liabilities on the insurance company's accounting statements since they must be settled at a f...

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 into a cash flow Natural person - answera human being Qualified plan - answera retirement plan that meets the IRS guidelines for receiving favorable tax treatment Suitability - answera requirement...

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 fraudulent, coercive, or dishonest practices or has proved to be incompetent, untrustworthy, or financially irresponsible, the law allows the Commissioner to - answerANSWER: suspend, revoke, or refuse ...