NC Statues and Regulations
Coercion
A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. This is an example of
The friend is licensed in the same line of insurance
A friend helped an insurance producer sell an insurance policy. The producer can share the commission with the friend if
A misdemeanor
An agent found representing an unlicensed company is guilty of
The disclosure is with the written authorization of the individual
An insurance institution, agent, or insurance-support organization shall not disclose any personal or privileged information about an individual collected or received in connection with an insurance transaction unless
90 days
An insured has how many days to request information about a decision?
Elected in a general election for a 4-year term
How is the commissioner of insurance selected for the office?
The commissioner may suspend or revoke the person's license
If a licensee fails to notify the Commissioner of insurer insolvency, if known or suspected
Automatically suspended
If a licensee is convicted of a crime their license is
Insurer accepting payment
If an insurer accepts premium payments by credit card, who is responsible for paying the fees charged by a credit card company?
Also be liable for the expenses of the investigation
In cases where the Commissioner shall find evidence that any complaint against a company is justified, in addition to any penalties, the company should
Defamation
Making false statements about the financial condition of any insurer that are intended to injure any person in the business of insurance
$1,000
Maximum monetary penalty the Commissioner will order instead of suspending or revoking a license
Class H felony
Persons who either assisit or provide false or misleading information regarding a claim are guilty of a
Automobile Insurance
The Post-Assessment Insurance Guaranty Association covers which type of direct insurance?
12 months
The required privacy disclosure notice must be provided by insurer to current policyholders at least once in any period of ____________
10 days
When an agent changes his address or email, the Department of Insurance must be notified within
Pretext interview
Where a person, in an attempt to obtain information about a person, pretends to be someone he is not or pretends to represent someone he is not representing
