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NC Accident and Health or Sickness Exam Prep Questions and Answers Graded A+
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NC Accident and Health or Sickness Exam Prep
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NC Accident and Health or SicknessExam Prep (Group 1)
Beatrice is a member of the Supreme Lodge fraternal benefit society. What must
Beatrice do before she can sell insurance on its behalf? - answer comply with the same
general licensing requirements that apply to resident agents
An agent's apparent authority is defined by: - answer the customer's perceptions
Emily solicits policies and accepts premiums from the public but is not licensed as an
agent. She then turns over the applications and premiums to her husband, who is
licensed. Which statement is correct? - answer Emily has committed a Class 1
misdemeanor.
Which of the following is NOT an unfair claims settlement practice if committed by an
insurance company in North Carolina? - answer failing to promptly settle a claim for
which liability is uncertain
In an insurance transaction, what does the applicant give to the insurer as consideration
in exchange for the insurer's promise to cover the risk? - answerinitial premium
Because they are aleatory contracts, insurance policies: - answeroften award
disproportionately large benefits due to chance events
Abby lives in Maryland, where she is licensed as an insurance agent. She wants to
apply for a nonresident license in North Carolina. Which of the following conditions must
she satisfy? - answerShe must show her license to be in good standing in Maryland.
Agent Smith knows that his best friend, Agent Thomas, is embezzling money from
clients. However, Agent Smith does not notify the Commissioner in order to protect his
friend. What is the result? - answerAgent Smith's license will be revoked.
When collecting personal financial or health information, an insurance company is
required to do all of the following EXCEPT - answerprovide individuals with copies of
documents disclosed to other parties.
Which of the following presents a situation of pure risk? - answerKnowing that his family
depends on his income, Franklin wants to insure his life.
Why would a business self-insure instead of buying an insurance policy? - answerto
insure against frequent low-severity losses
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