NC Life Exam Simulation Questions and Answers Already Graded A

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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]

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