Personal Lines EVERYTHING. Exam Questions And Answers 100% Pass
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Personal Lines
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Personal Lines
Personal Lines EVERYTHING. Exam
Questions And Answers 100% Pass
The North Carolina Commissioner of Insurance, referred to in the text as the Commissioner, is elected to
a _______ year term during each general election. There is no limit on the number of terms the
Commissioner may seek office. -...
Personal Lines EVERYTHING. Exam
Questions And Answers 100% Pass
The North Carolina Commissioner of Insurance, referred to in the text as the Commissioner, is elected to
a _______ year term during each general election. There is no limit 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
If a licensee is convicted for any crime other than a motor vehicle infraction, the licensee must notify the
Commissioner within _____ days after the conviction. - answer✔10 days
Each licensee must also give written notification to the NCDOI of any change to their residential address
or e-mail address within______ days of the change. Failure to provide the information may result in the
licensee having 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
Anyone who willfully misstates information in a financial statement required by law is guilty of perjury.
The person or entity that made the misstatement is subject to 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
These records must be retained for at least ____ years after the final disposition of the complaint. -
answer✔5 years
No insurer may refuse to insure or refuse to continue to insure an individual, limit the amount, extent,
or kind of coverage available to an individual, or charge an individual a different rate for the same
coverage, SOLELY because of blindness or partial blindness or deafness or partial deafness. True or False.
- answer✔True
When 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 must purchase a Surety Bond for no less than $______ per line of authority. - answer✔$15,000
Every Insurance producer who solicits or negotiates an application for insurance of any kind in any
controversy between the insured or his beneficiary and the insurer is regarded 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 regarded as
representing whom? - answer✔the insured or his beneficiary and not the insurer.
A licensee must report to the Commissioner any administrative action taken against him or her in
another state or by another government agency in North Carolina within ______ days after the final
disposition of the matter. Within ________ days after the initial pretrial hearing date, a licensee must
report to the Commissioner any criminal prosecution taken in any state. - answer✔30 days
An insurer cannot accept an insurance application from an individual who is not currently appointed to
that insurer.
An insurer must report to the Commissioner the names of all appointed insurance producers and pay
the prescribed appointment fee within ______ days of the first application for insurance. Appointments
must be renewed annually by _______. - answer✔-15 days
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
If any person knowingly or willfully makes a false or fraudulent statement on any application for
insurance, or 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 must provide a "_______________" to all applicants or insured parties
involved with the insurance transactions during 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
Within ___________ business days from the date when the written request was received from an
individual to correct recorded personal information, the insurer must (a) correct, amend or delete the
recorded personal information in dispute; or (b) notify the individual of the refusal to make the
requested changes. - answer✔30 business days
Within ___________ days of the notice date from the insurer of an adverse underwriting decision, the
applicant may request the insurer furnish within _____ business days the specific reason for the adverse
decision if not initially furnished in writing and specific items of personal and privileged information that
support those reasons. - answer✔90 days
21 business days
Any person who violates a Cease and Desist Order issued by the Commissioner is subject to a fine of
$______ for each violation with a maximum of $_______.Also, the violator's license may be suspended
or revoked by the Commissioner. - answer✔-$10,000
-$50,000
Any person who obtains information about an individual from an insurer, insurance producer or ISO
under false pretenses will, upon conviction, be guilty of a _______. - answer✔Class 1 Misdemeanor
Any person who willfully violates a Cease and Desist Order of the Commissioner after it has become final
and while such order is in effect will forfeit and pay a fine for the use of PUBLIC SCHOOLS of the violation
a sum of $_____to$_____. - answer✔$1,000 to $5,000
A person who attempts to obtain anything of value from another by false pretenses with intent to cheat,
embezzle or defraud is guilty of ________ - answer✔Class H felony
All licensees are required to complete _________ hours of NCDOI approved CE every ___ years -
answer✔24 hours and 2 years
CE is due by the LAST DAY of the MONTH OF THE LICENSEE' BIRTHDAY in each compliance period. True
or False - answer✔True
every resident licensee must complete a minimum ____ hour "Ethics" course approved by the NCDOI in
EACH compliance period. - answer✔3 hour
All Property, Casualty, Personal Lines or Adjuster licensees must complete a minimum ____hour "Flood"
course approved by the NCDOI in EVERY OTHER compliance period. - answer✔3 hour
The licensee may, within ___days after the end of his or her compliance period, complete the CE
requirements and request a reinstatement of the license and pay a $_____reinstatement fee to have his
or her license reinstated. - answer✔120 days
-$75.00
A licensee may request a ____ day extension of his or her normal compliance period from the NCDOI by
completing the appropriate request form and paying a $___ fee. Requests must be made no sooner than
_____ days before the end of their compliance period and no later than the last day of their compliance
period - answer✔-30 days
-$75.00
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