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SC ACCIDENT. HEALTH, AND LIFE
INSURANCE EXAM QUEST IONS &
ANSWERS 100% ACCURAT E!!
Question : An insurer is REQUIRED to offer which of the
following to each long-term care applicant at the time of purchase?
Correct answer: Inflation protection
Question : Which of these riders will pay a death benefit
if the insured's spouse dies?
Correct answer: Family term insurance rider
Question : Disability income plans which require that the
insurer can NEVER change or alter premium rates are usually considered
Correct answer: Nonconcellable
Question : What is the required action to be taken by a
South Carolina licensee before operating under an assumed business name?
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Correct answer: Notify the Director
Question : The suicide clause of a life insurance policy
states that if an insured commits suicide within a stated period from the policy's inception, the insurer will only be liable for a return of premiums paid
Correct answer: minus indebtedness and without interest
Question : If an annuitant dies before the annuity start
date
Correct answer: the premiums paid plus interest will be
given to the beneficiary
Question : The purpose of the Coordination of Benefits
provision in group accident and health plans is to
Correct answer: avoid overpayment of claims
Question : The typical long-term care insurance policy is
designed to provide a minimum of___year(s) of coverage
Correct answer: 1
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Question : Decreasing term life insurance is often used to
Correct answer: provide coverage for a home mortgage
Question : Which type of life insurance policy pays the
face amount at the end of the specified period if the insured is still alive?
Correct answer: Endowment policy
Question : A life insurance policy normally contains a
provision that restricts coverage in the event of death under all of the following situations EXCEPT
Correct answer: fare-paying passenger
Question : All _____ policies must be guaranteed
renewable.
Correct answer: long-term care
Question : What type of injury would NOT be covered
under a health insurance policy?
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Correct answer: Work related
Question : All of these are common exclusions to a life
insurance policy EXCEPT
Correct answer: accidental health
Question : Which of the following decisions would a
Health Savings Account (HSA) owner NOT be able to make?
Correct answer: The amount contributed by the employer
Question : A whole life insurance policy accumulates
cash value that becomes
Correct answer: the policy loan value which the insured
may borrow against
Question : Mike has inherited his father's traditional IRA.
As beneficiary, he will pay ____ taxes on any money withdrawn.