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Ch7 Laws and Rules Questions and Answers Graded A+
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Exam of 5 pages for the course North Carolina accident and health insurance at North Carolina accident and health insurance (Ch7 Laws and Rules)
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Ch7 Laws and RulesIf a company accepts a renewal premium payment that would extend coverage beyond
the policy's MAXIMUM age limit, the company - answer must continue the coverage to
the end of the period of time for which the premium was accepted
Under a Group Health Insurance Policy, continuation shall be available only to an
employee who has been insured immediately prior to the date of termination for a period
of AT LEAST - answer30 days
Insurance agents MUST obtain a license from North Carolina's - answer Commissioner
of Insurance
Which of the following terms is defined as any transaction in which new life insurance or
a new annuity is to be purchased and existing life insurance or annuity is to be
terminated or discontinued? - answer Replacement
A written agreement to provide a Life Insurance Policy holder immediate cash in
exchange for the sale and transfer of a Life Insurance Policy is a - answerViatical
Settlement
An agent that has been or is engaged in conduct that violates the Insurance Information
and Privacy Protection Act shall be issued and served a statement of charges and
notice of hearing by the Commissioner of Insurance. The date of such hearing shall be
AT LEAST how many days after service of charges? - answer10
A temporary license may be issued for a MAXIMUM period of how many days? -
answer180
The following acts are examples of unfair methods of competition and deceptive
practices in the business of insurance EXCEPT the use of - answercomparisons
showing that a policy has higher benefits
No insurer shall refuse to insure an individual because of - answerrace
An agent who sells an individual life insurance policy in North Carolina MUST deliver to
the policyowner - answerA Policy Summary and Buyer's Guide
North Carolina requires that an insurance agent must complete __ hours of continuing
education on the subject of law and ethics every two years. - answer3
, Which of the following requires that an applicant for an individual Health Policy be
notified of an investigation into his personal character, general reputation, and mode of
living? - answerInsurance Information and Privacy Protection Act
The funds used by the Life and Health Insurance Guaranty Association to carry out its
purpose are obtained from the - answermember companies
Approved premium rates for group health insurance shall be guaranteed by the insurer
for an initial period of not LESS than how many months? - answer12
Eligible employees must be added to group health coverage NO LATER than how many
days after their first day of employment? - answer90
The Insurance Information and Privacy Protection Act is designed to limit or direct the
information collection activities of all of the following EXCEPT - answerinsurance
regulators
K works for XYZ Clothing Store from September through December each year. K works
45 hours a week for this period of time. The employer's Group Policy would consider K -
answernot eligible for the insurance because as a seasonal employee K does not meet
the definition of "employee" under North Carolina law
The Life and Health Insurance Guaranty Association is - answerfunded by admitted
insurance companies through assessments
Companies in North Carolina may transact solicitations for insurance ONLY through -
answerlicensed agents
According to the Affordable Care Act (ACA), which of the following coverages is NOT
required? - answerCoverage for cosmetic surgery
The policyholder has how many days to return an Accident/Health Insurance Policy and
receive a full refund on premiums? - answer10
An insurance broker in North Carolina is a representative of the - answerinsured
When L applies for a Health Insurance Policy, L unintentionally fails to list a previous
visit to a cardiologist. If the insurance company contests the policy, it MUST do so within
2 years - answerfrom the date of issue
When an existing life insurance policy is being reissued with a reduction in cash value,
the agent must sign the - answerNotice Regarding Replacement of Life Insurance or
Annuity
What do Dread Disease policies cover? - answerA specific disease or illness
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