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NC Accident and Health or Sickness Exam Prep (Group 4) Questions and Answers 2024
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NC Accident and Health or Sickness Exam Prep (Group 4)
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NC Accident and Health or SicknessExam Prep (Group 4)
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? - answer Agent Smith's license will be revoked.
During the application process, ABC Insurers receives personal and confidential
information about Tom, who is applying for a life insurance policy. In which of the
following circumstances must ABC Insurers obtain Tom's written authorization before
disclosing this information? - answer before disclosing information to third parties for
telemarketing and sales purposes
Statewide Insurers wants to obtain an investigative consumer report about an applicant
because of questions it has regarding the individual's credit history. What must
Statewide do before it can obtain a report? - answer notify the applicant that he has the
right to be interviewed in connection with the report
When an insurer employs field agents, who is responsible for delivering a new policy to
a policyholder? - answeragent
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? - answerhe must show her license to be in good standing in Maryland.
What is the difference between a representation and a warranty in an insurance
contract? - answerA representation is believed to be true, while a warranty is
guaranteed to be true.
Why would a business self-insure instead of buying an insurance policy? - answerto
insure against frequent low-severity losses
An insurable risk is not: - answercatastrophic
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? - answerEmily has committed a Class 1
misdemeanor.
When does an insurance policy take effect? - answerwhen the first premium is paid
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