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NC PROPERTY INSURANCE, NC ADJUSTERS EXAM QUESTIONS AND ANSWERS 2024 - 25
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NC PROPERTY INSURANCE, NC ADJUSTERS EXAM QUESTIONS AND ANSWERS 2024 - 25
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NC PROPERTY INSURANCE, NC ADJUSTERS EXAMQUESTIONS AND ANSWERS 2024 - 25
Passive,Unfair,Claim,Settlement,Practice,,ANS,-,,1.,Failing,to,act,promptly,upon,receiving,a,claim,
2.,Failing,to,implement,reasonable,standards,for,the,prompt,investigation,of,claims
3.,Failing,to,affirm,or,deny,coverage,within,a,reasonable,time,after,receiving,the,proof,of,loss
A,property,policy,pays,ACV,at..,,ANS,-,,The,time,of,a,loss
A,premium,overpaid,for,a,sum,in,excess,of,a,building's,ACV,must,be,reimnursed,at..,,ANS,-
,,6%,annual,interest,from,the,date,of,issue
Who,must,approve,&,license,an,employer,who,wants,to,self-insure?,,ANS,-,,The,Commissioner
An,application,for,licensing,as,a,self,insurer,must,be,filed,,ANS,-
,,at,least,90,days,prior,to,proposed,licensing,date
If,a,self-
insurance,for,workers',compensation,license,is,denied,,the,employer,has,___,days,to,correct,deficiencie
s,without,reapplying,,ANS,-,,60
An,application,for,workers',compensation,self-
insurance,license,must,have,at,least,___,in,total,fixed,assets,,ANS,-,,500K
The,reason,for,policy,cancellation,after,the,first,60,days,of,the,policy,term,that,is,NOT,acceptable,under,
North,Carolina,policy,cancellation,statutes:,,ANS,-
,,The,insured,has,submitted,an,excessive,number,of,claims,in,the,past,3,years
The,reason,for,policy,cancellation,after,the,first,60,days,of,the,policy,term,that,is,acceptable,under,Nort
h,Carolina,policy,cancellation,statutes:,,ANS,-
, ,,If,a,policy,has,been,in,effect,for,less,than,60,days,and,is,not,a,renewal,of,a,policy,,it,may,be,cancelled,fo
r,any,reason,by,furnishing,to,the,insured,at,least,15,days,prior,written,notice,of,and,reasons,for,cancella
tion;,otherwise,a,cancellation,must,comply,with,the,North,Carolina,cancellation,statutes.
The,insured,can,request,the,following,initial,information,be,added,to,a,property,policy,,EXCEPT:,,ANS,-
,,Claim,surcharge
The,insured,CAN,request,the,following,initial,information,be,added,to,a,property,policy,,ANS,-
,,1.,Deficiency,charge
2.,Basis,Rate
3.,Property,improvement,credits
A,home,loan,provide,may,accept,a,binder,as,long,as,it,,ANS,-
,,includes,specified,identifying,information,and,may,not,be,cancelled,without,10,days',written,notice,to,t
he,mortgagee.
Each,insurer,or,its,agents,must,maintain,a,record,of,all,written,complaints,for,at,least,_____,years,after,t
he,complaint's,final,disposition,or,,for,domestic,companies,,until,the,Commissioner,adopts,a,final,report
,of,a,general,examination,that,contains,a,review,of,these,records,,whichever,is,later.,,ANS,-,,5
The,North,Carolina,Motor,Vehicle,Reinsurance,Facility,provides,automobile,insurance,to,,ANS,-
,,motor,vehicles,,which,are,self-
propelled,vehicles,designed,for,use,on,a,highway,,including,motorcycles,,but,not,farm,or,construction,e
quipment.
True,statements,regarding,SDIP,plan,surcharges,,ANS,-
,,An,insurer,may,provide,for,premium,surcharges,for,insureds,having,less,than,3,years',driving,experienc
e,as,licensed,drivers.
SDIP,points,must,be,commensurate,with,the,severity,of,the,claimant's,injury
A,subclassification,plan,surcharge,must,be,applied,to,a,policy,for,3,policy,years
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