Insurance Information and Privacy Protection Act Quiz
The Commissioner of Insurance cannot suspend or revoke an agent's license for which of the following reasons? failing to meet projected sales goals accepting insurance from an unlicensed individual having an agent's license denied or suspended in another state forging an individual's name on an insurance application
failing to meet projected sales goals - The Commissioner can suspend or revoke an agent's license for all of the reasons listed except for failing to meet his or her projected sales goals.
Acme Insurance and Apogee Insurance agree to offer different premium rates for persons of equal risk within a particular class. They also agree to limit benefits paid to insureds within this class if the insureds live in certain counties of North Carolina. What are Acme and Apogee engaging in? unfair and prohibited business practices false advertising acceptable marketing and underwriting practices insurance fraud
unfair and prohibited business practices - Acme and Apogee are agreeing to an unreasonable restraint of trade in the insurance business of North Carolina. Furthermore, they are engaging in unfair discrimination by charging persons of the same class and substantially equal risk different premium rates and by paying different benefits to persons in this class.
Terry is licensed in North Carolina as a life and health insurance agent. To maintain his license, how many hours of continuing education must he complete every two years? 40 24 30 12
24 - In every two-year license renewal period, licensees are required to complete at least 24 hours of continuing education. At least three hours must be in ethics.
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? She must move to North Carolina. She must show her license to be in good standing in Maryland. She must be sponsored by an agent licensed in North Carolina. She must surrender her Maryland license.
She must show her license to be in good standing in Maryland. - A person who is not a North Carolina resident may be licensed as an insurance agent in North Carolina if the person is a licensed agent in good standing in his or her home state.
