Risk Management and Insurance > QUESTIONS & ANSWERS > NC Life Exam Simulation Questions and Answers Already Graded A (All)
NC Life Exam Simulation Questions and Answers Already Graded A Which of the following actions require a policyowner to provide proof of insurability in an Adjustable Life policy? ✔✔ANSWER: incr... ease 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 ✔✔ANSWER: suspend, revoke, or refuse to renew the agent's license 3. A Whole Life Insurance Policy endows when the: ✔✔ANSWER: Cash value equals the death benefit 4. A provision in a life insurance policy that pays the policyowner an amount that does not surpass the guaranteed cash value is called the: ✔✔ANSWER: Policy Loan provision 5. The Life and Health Insurance Guaranty Association becomes involved in an insurance company's affairs when the company ✔✔ANSWER: becomes insolvent 6. If a contract of adhesion contains complicated language, to whom would the interpretation be in favor of? ✔✔ANSWER: Insured 7. M purchases a $70,000 Life Insurance Policy with premium payments of $550 a year for the first 5 years. At the beginning of the sixth year, the premium will increase to $800 per year but will remain level thereafter. The face amount will remain at $70,000 throughout the life of the policy. The type of policy that M has purchased is: ✔✔AN [Show More]
Last updated: 2 years ago
Preview 1 out of 35 pages
Buy this document to get the full access instantly
Instant Download Access after purchase
Buy NowInstant download
We Accept:
NC Life Insurance Bundled Exams Questions and Answers (2022/2023) Already Passed
By Nutmegs 2 years ago
$22
14
Can't find what you want? Try our AI powered Search
Connected school, study & course
About the document
Uploaded On
May 10, 2023
Number of pages
35
Written in
This document has been written for:
Uploaded
May 10, 2023
Downloads
0
Views
106
In Scholarfriends, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.
We're available through e-mail, Twitter, Facebook, and live chat.
FAQ
Questions? Leave a message!
Copyright © Scholarfriends · High quality services·