Description

SOUTH CAROLINA LIFE INSURANCE PRODUCER

If the initial premium does not accompany an application for insurance, the producer MUST take which of the following actions when delivering the policy?

• A. Collect the initial premium and complete the inspection report

• B. Collect the initial premium and verify the applicant’s continued good health

• C. Collect the initial premium in compliance with the provisions of federal Fair Credit Reporting Act

• D. Obtain the beneficiary’s approval of the policy

___ is an insured under a life policy in which it’s spouse is the designated beneficiary. Both as involved in a car accident that results in death’s. spouse survives ten days and then dies. Under the ___ provision in the policy, the benefits will be paid to the

• A. next of kin

• B. DA

• C. spouse’s estate

• D. OC

___ is both the policyowner and the insured under a $100,000 Whole Life policy. The beneficiary is P’s mother. When P marries, ownership of the policy is transferred to P’s spouse. If P ___ without making any other changes, the policy proceeds will be payable to

• A. spouse only

• B. mother

• C. mother and spouse