N.C Regulations for health-1
Violations of the cease and desist order pertaining to consumer information privacy will result in a fine of
$10,000 per violation
If the commissioner orders the payment of a monetary penalty, the penalty must be in an amount between
$100-$1000
The commissioner may issue a temporary insurance agent license for a maximum period of
180 days
If an employee terminates her employment, which of the following provisions would allow her to continue health coverage under an individual policy, if requested within 31 days
Conversion provision
The Regulation of the insurance industry primarily rests with
The state
Any person who willfully violates a cease and desist order from the commissioner with regards to unfair trade practices, may be subject to a fine from
1,000 to 5,000 for each violation
How many days are provided for the applicant to review a new policy and return it for a full premium refund
10 days
If the commissioner is scheduling a hearing for a potential violation of the insurance code, the aggrieved party must receive a notice of hearing at least how days in advance
10 days
When agent changes email address or residential, the department of insurance must be notified within
10 days
Insurance companies are required to provide proof of loss forms to the claimant within how many days after receipt of notice of loss
15 days
Any licensee who decides to terminate his or her residency in this state must deliver the insurance to the commissioner personally or by mail within
30 days
An employer responsible for paying part or all of the premium for a group life or group health plan cannot willfully fail to pay the premium without first giving the employees how many days advance notice
45 days
How long must a complaint record be maintained
5 years
Under the L&H Guaranty Association, the maximum benefit one contract holder may receive in benefits, regardless of the number of contracts held is
5,000,000
In order to get a nonresident license in NC an agent must
Apply and pay a fee to a nonresident state that reciprocates
In cases when the applicant is blind or deaf, the insurer underwriting the policy may do which of the following?
Apply the same standard as are used for applicants whose sight and hearing are not impaired
A person who knowingly obtains information about an individual from an agent or the insurer under false pretenses has committed a
Class 1 misdemeanor
When doing business in this state, an insurance company that is formed under the laws of another state is known as which type of insurer
Foreign
Twisting
Is a misrepresentation or incomplete or fraudulent comparison of insurance policies that persuades an insured/owner, to his or her detriment, to cancel, lapse, or switch policies from one to another
In North Carolina, the state's continuing education requirement
Consists of completing 24 hours every 2 years
How is the commissioner of insurance selected for the office?
Elected in a general election for a 4 year term
All statements of the insured in any application for a policy of insurance are deemed
Representations
When a licensee is accused of any act, omission, or misconduct that would subject the licensee to a license suspension or revocation, with the approval of the commissioner, the license may be surrendered for a period of
Time to be set by the commissioner
What is a license suspension period for a second offense of violating state rules regarding records or reports
Up to 1 year
An insurer or authorized representative of the insurer that terminates the appointment, employment, contract or other insurance business relationship with an agent shall notify the commissioner
Within 30 days after the effective date of the termination
What must an insurer obtain in order to transact insurance within a given state
Certificate of authority
An insurance institution or agent that discloses information in violation of the information privacy and disclosure statutes of NC will be liable
Damages sustained by the individual to whom the information relates
The commissioner may issue a duplicate license for any lost, stolen or destroyed license once the licensee submits a
Written request and pays required fees
Before the commissioner will issue a broker's license, the licensee must obtain a bond of at least
$15,000 or a lieu of a bond, deposit with the commissioner the equivalent amount in cash or certificate of deposit
Guilty of a Class H felony
Any person who assists or conspires with another person to knowingly defraud or deceive an insurer is
A licensee decides to terminate his residency in this state. Which would be the appropriate action
Delivering the license to the commissioner within 30 days
When is a child eligible for coverage on a parents policy
From the moment of birth
