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Lesson 12. NC Statutes and Regulations pertinent to Accident & Health Insurance Questions and Answers Rated A+
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Lesson 12. NC Statutes and Regulations pertinent to Accident & Health Insurance
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Lesson 12. NC Statutes and Regulationspertinent to Accident & Health Insurance
A "person" can include which of the following: - answer All of the below
- An individual
- A partnership
- A firm
An "alien company" is a company incorporated under the laws of any jurisdiction inside
of the United States - answer False
The NAIC stands for the National Association of Insurance Commissioners. -
answerTrue
A "Department" refers to which of the following: - answerThe Department of Insurance
of NC
A "domestic company" is a company incorporated or organized under the laws of NC -
answerTrue
The NC Commissioner of Insurance heads the state Department of Insurance and is
responsible for all of the following except: - answerLicensing physicians
A licensee must give written notification of a change in address or e-email within 10
business days - answerTrue
A person who violates NC insurance law may be required to pay restitution in an
amount that would make whole any person harmed by the violation - answerTrue
It is a _____ felony when any person deceives an insurer by knowingly presenting a
false statement as part of a claim for payment. - answerClass H
Each insurer or its agents must maintain an itemization log of every written complaint. -
answerTrue
It is a Class 1 misdemeanor for any person without the appropriate license to do which
of the following - answerall of the below
- Act as an agent
- Collect an insurance premium
- Adjust any loss
, A lender may require the purchase of insurance as a condition to renewing a loan. -
answerFalse
No company doing the business of insurance may make any discriminations in favor of
any person - answerTrue
A lender does not need to accept a binder unless it includes all of the following except: -
answerA list of the insured's dependents
An agent may never accept payment of an insurance premium by credit card -
answerFalse
FINRA stands for: - answerFinancial Industry Regulatory Authority
An individual may be licensed as a foreign military sales agent to represent a life
insurance company domiciled in NC - answerTrue
An agent who negotiates an application for insurance, in any controversy between the
insured and the insurer, is regarded as representing the insured and not the insurer. -
answerFalse
A license is required for which of the following kinds of insurance: - answerAll of the
below
- Accident and health or sickness
- Casualty
- Life
Persons may only sell the kind of insurance for which they hold a license for: -
answerTrue
The purpose of the Consumer and Customer Information Protection rules are all of the
following except: - answerto prevent insurance applicants from knowing what
information is collected about them.
A person is considered a resident of the State if the person's last known mailing address
is located in the State. - answerTrue
An insurance agent may use a pretext interview to obtain information in connection with
an insurance transaction. - answerFalse
The notice to accompany a change in insurance benefits must include all of the
following information except: - answerThe names of other insureds who have received
the notice in the last month
The Federal Privacy Disclosure Notice must be provided at least every five years during
the continuation of the policy - answerFalse
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