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NC Rules and Laws Study Guide Questions and Answers
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NC Rules and Laws Study Guide
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NC Rules and Laws Study GuideIf a health insurance claim is not promptly paid, legal action may be taken against the
insurer after - answer60 days from the date proof of loss furnished
The rules and regulations of the Life and Health Insurance Guaranty Association in
North Carolina apply to - answer Life and Health Policies issued by companies
authorized in North Carolina
Before a Health Policy is issued or delivered, the form, classification or risks, and
premium rates MUST be filled with the - answer Commissioner of Insurance
AT LEAST how many days before the effective of a rate increase must an insurer
provide written notice to individual accident and health policyowners? - answer30
If, at the time of an insured's death, the insurance company discovers that the insured's
age was misstated on the application for life insurance, the company will most likely -
answerPay the policy proceeds in the amount the premiums would have purchased at
the insured's actual age
Insurers organized under the laws of North Carolina are called - answerDomestic
Companies
Which action by an insurance agent is considered rebating? - answerSplitting
commissions with a policyholder who has purchased additional coverage
Which of the following types of insurance is exempt from the Rules Governing Life
Insurance and Annuity Replacements? - answerCredit Life
The following acts are examples of unfair methods of competition and deceptive
practice in the business of insurance EXCEPT the use of - answerComparisons
showing that a policy has higher benefits
In North Carolina, a domestic insurance company is defined as a company that -
answerIs incorporated and formed in North Carolina
A temporary license may be issued for a MAXIMUM period of how many days -
answer180
Inducing or attempting to induce any insured person through misrepresentation to lapse,
forfeit, or surrender insurance is - answerTwisting
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