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PERSONAL LINES EVERYTHING YOU NEED IS HERE 100% PASS GUARANTEED LATEST UPDATE
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PERSONAL LINES EVERYTHING YOU NEED IS HERE 100%PASS GUARANTEED LATEST UPDATE
The Commissioner is elected to serve a _______ year term during each general election.
There are no limits on the number of terms the Commissioner may seek office. - Answer
4 years
The commissioner is empowered to investigate what? Answer: to investigate and
conduct hearings on any insurance matter in the state including conducting an oral
examination and investigation of persons suspected to be involved in unfair competition
or deceptive practices.
The NCDOI must examine the records of each Domestic Insurer at least once every ___
years. Answer 5 years
In the event a licensee is convicted of any crime, other than a motor vehicle infraction,
the licensee shall notify the Commissioner within _____ days after the conviction. -
Answer 10 days
Each Licensee must also, in writing, notify the NCDOI of any change of his or her
residential address or e-mail address within ______days of such address change. If the
information is not provided, the Licensee shall have to pay a $ ______Administrative fee
to the NCDOI. -Answer -10 Days
-$50.00
Persons suspected of violations of North Carolina insurance law must be given
_____days notice prior to the date of any hearing. The notice must state the reason for
the hearing and the charges under investigation by the Commissioner. - Answer 10 Days
Embezzlement of money received is punishable as a FELONY. If the amount embezzled
is $100,000 or more it is a Class __ felony. If the amount is under $100,000 it is a Class
___ felony. The - Answer -Class C
,-Class H
Any person who knowingly makes a false statement in a financial statement required by
law is guilty of perjury. The person or entity making the false statement is guilty of a fine
of between $_____and $_____. - Answer $2,000 and $10,000
A license may be suspended for a period of ___to___ months for a first offense and ____
year for any further offenses. - Answer -1 to 6 Months
-1 Year
Complaint Records:
These shall be maintained at least ____years after the final disposition of the complaint.
-Answer 5 years
No insurer shall decline to insure or refuse to continue to insure any individual, limit the
amount, extent or kind of coverage available to an individual, or charge an individual a
differential rate for the same coverage, SOLELY because of blindness or partial
blindness or deafness or partial deafness. True or False. - Answer True
If an insurer requires a written proof of loss, the proof of loss form must be furnished by
the insurer to the insured within _____days after the receipt from the insured having
given notice of a pending claim. - Answer 15 days
If any person assumes to act either as principal or licensee without license as required
by law the person is deemed guilty of a _______. - Answer Class 1 Misdemeanor
Can insurers or insurance producers offer insurance products through a credit card
facility? - Answer No they can not
The Commission must meet at least ____times per year. - Answer 4 times
,A Broker shall purchase a Surety Bond in no less than the amount of $______ per line of
authority. - Answer $15,000
In any controversy between the insured or his beneficiary and the insurer, any
Insurance producer who solicits or negotiates an application for insurance of any kind is
considered as representing whom? - Answer the insurer and not the insured or his
beneficiary.
Every Insurance Broker who solicits an application for insurance of any kind, in any
controversy between the insured or his beneficiary and the insurer issuing any policy
upon such application is treated as representing whom? - Answer the insured or his
beneficiary and not the insurer.
A licensee shall, within _______________ days after the final disposition of the matter,
report to the Commissioner any administrative action taken against them in another
state or by another government agency in North Carolina. -Within ______________days
after the initial pretrial hearing date, a licensee shall, in any state report to the
Commissioner. -Answer 30 days
An insurer shall not accept an application for insurance from a person who is not
currently appointed to that insurer. The insurer shall within ______ days report to the
Commissioner the names of all insurance producers appointed by it and pay the
prescribed appointment fee. Appointments shall be renewed annually before _______. -
Answer -15 days
-April 1st
Any licensee who ceases to maintain his or her residency in North Carolina must deliver
his insurance license or licenses to the Commissioner by personal delivery or by mail
within _____days after terminating residency. - Answer 30 days
The Commissioner may issue a temporary insurance producer license for a period of
____days or longer for good cause without requiring examination. - Answer 180 days
, The Commissioner may issue a learner's permit authorizing the applicant to act as an
adjuster for a learning period of _____days without a requirement of any other license.
Not more than one learner's permit may ever be issued to one individual. - Answer 90
days
Any person who knowingly or willfully makes any false or fraudulent statement on any
application for insurance, or who knowingly or willfully makes any such statement for
the purpose of obtaining any monetary benefit from any company engaged in the
business of insurance in North Carolina, is guilty of a ______ - Answer Class 1
Misdemeanor.
Insurance producers who signs any blank contract or policy of insurance is guilty of a
Class 3 Misdemeanor and, upon conviction, will be punished by a fine of $______ to
$_____. - Answer $1,000 to $5,000
A Class 1 Misdemeanor has a penalty of $1,000 - $5,000 and/or an imprisonment for
_____days but no more than ___ year. - Answer -30 days
-1 year
An insurer or insurance producer shall provide a "_______________" to all applicants or
insureds involved with the insurance transactions at the time of application. - Answer
Notice of Insurance Information Practices
What did the Federal Fair Credit Reporting Act of 1971 Establish? - Answer established
the right of a consumer to know what information has been collected on him or her.
What did the Federal Privacy Act establish? -Answer established the requirement that
personal information collected by the insurance industry could not be given to any other
party without the consent of the affected party.
The Disclosure Authorization Form will remain valid from the date signed for ____
months for Property or Casualty Insurance applications. -Answer 12 months
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