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Personal Lines Questions And Answers With Verified Solutions Already Passed!!!(GRADED A+)
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Personal Lines Questions And Answers With Verified Solutions Already Passed!!!(GRADED A+)
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Personal Lines Questions And AnswersWith Verified Solutions Already
Passed!!!(GRADED A+)
If a licensee is convicted of a criminal violation the licensee's insurance license is -
ANSWERS✔✔automatically suspended
Every insurer who writes essential property insurance in this state must be a
member of the North Carolina Insurance Underwriting Association -
ANSWERS✔✔As a condition of its authority to continue to transact the business
of insurance in North Carolina
Whenever an insurer knows that a person has violated either the fraudulent claims
or embezzlement provisions it is the insurers duty to notify which of the following
- ANSWERS✔✔The insurance commissioner
All of the following are eligible risks for the North Carolina Motor Vehicle
Reinsurance Facility Except - ANSWERS✔✔Nonresident of this state who owns a
motor vehicle registered in another state but is principally garaged in this state
An agent received a cash premium payment from one of his clients. He deposits
the cash into his own personal business account and subsequently drafts a premium
check from the business account and forwards that on the insurer. The agent is
guilty of - ANSWERS✔✔commingling
Eligibility Requirements for obtaining property coverage in the Fair Plan includes
all of the following Except - ANSWERS✔✔Property at risk must be owner
occupied
, An automobile rate filing made by the North Carolina Rating Bureau is deemed to
be approved after - ANSWERS✔✔50 Days
The minimum liability limits that can be written in the North Carolina Reinsurance
facility are - ANSWERS✔✔30/60/25
If an insurer accepts premium payments by credit card who is responsible for
paying the fees charged by a credit card company? - ANSWERS✔✔Insurer
accepting payment
Any inducement offered to the insured in the sale of an insurance policy that is not
specified in the policy is an unlawful practice known as - ANSWERS✔✔rebating
On its advertisement a company claims that it has funds in its possession that are in
fact not available for the payment of losses or claims the company is guilty of -
ANSWERS✔✔misrepresentation
How long must a complaint record be maintained? - ANSWERS✔✔5 years
The Post-Assessment Insurance Guaranty Association Covers which type of direct
insurance? - ANSWERS✔✔Automobile Insurance
To maintain their insurance license agents are required to complete how many
hours of continuing education every 2 years? - ANSWERS✔✔24 hours
The North Carolina Insurance Underwriting Association has all of the following
powers Except - ANSWERS✔✔To engage in writing policies of insurance for
town and county mutual insurance associations
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