Exam (elaborations)
Lesson 12. NC Statutes and Regulations pertinent to Accident & Health Insurance Questions and Answers Rated A+
- Course
- Institution
Lesson 12. NC Statutes and Regulations pertinent to Accident & Health Insurance
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now