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Life and Health Insurance Producer Exam

Long-term care (NC): practice questions

Our Life & Health Insurance bank has 3 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · North Carolina

An applicant does not meet the insurer's long-term care financial suitability standards. What does North Carolina allow?

  1. The applicant may waive the results and still buy the policy
  2. The insurer may issue only a policy with a 30-day benefit maximum
  3. The applicant must first get approval from a Medicaid caseworker
  4. The producer must decline the sale and report it to the Department
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A. The applicant may waive the results and still buy the policy — N.C. Gen. Stat. 58-55-31(c)(2); 11 NCAC 12 .1025(e).

Question 2 · North Carolina

A long-term care policy has been in force for more than two years. On what basis may the insurer still contest it?

  1. It may not be contested for any reason once two years have passed since issue
  2. On any material misrepresentation in the application, even if made innocently
  3. On any misrepresentation that relates to the condition for which benefits are sought
  4. Only if the insured knowingly and intentionally misrepresented relevant health facts
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D. Only if the insured knowingly and intentionally misrepresented relevant health facts — 11 NCAC 12 .1023(c).

Question 3 · North Carolina

Which provision is prohibited in a long-term care policy delivered in North Carolina?

  1. Offering a nonforfeiture benefit such as reduced paid-up insurance
  2. Cancelling coverage because the insured's physical or mental health has deteriorated
  3. Giving the policyholder 30 days to return the policy for a refund
  4. Paying benefits for care given in an assisted living facility
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B. Cancelling coverage because the insured's physical or mental health has deteriorated — N.C. Gen. Stat. 58-55-30(b)(1); see also 58-55-31(a) and 58-55-30(f).

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