Free Insurance Regulation Practice Questions
North Carolina Life exam — 204 practice questions.
Subtopics: Commissioner selection, Regulatory authority, Continuing education, Ethics CE, CE compliance date, CE lapse reinstatement, Prelicensing education, Licensing exam, Nonresident licensing, Appointment, Appointment termination, Fiduciary duty, Unfair trade practices, Rebating, Twisting, Churning, Defamation, Misrepresentation, Unfair claims practices, Replacement, Buyer's Guide timing, Replacement free look, Guaranty association, Guaranty association limits, Guaranty association advertising, Insurance fraud, Commissioner powers, License denial, Insurer licensing, Reporting convictions, Flood CE, Commissioner term, Commissioner vacancy, Commissioner rulemaking, Policy synopsis on request, Criminal violations, Conviction suspends license, License surrender, Change of address, Late address notice, Notice by mail, Civil penalties, Continuing violations, Restitution, Producer records, Agency records officer, Refusing examination, Fraud reporting duty, Fraud report immunity, Fraud penalties, Producer embezzlement, False application statements, Signing blank policies, Unauthorized insurers, Unauthorized insurer crime, Premium receipt agency, License required, Solicit defined, Broker defined, Effect of a license, Minimum age, Business entity license, Fingerprints, Exam scoring, Exam retake, Re-examination of violators, Moving to North Carolina, Reporting prosecutions, Nonresident CE, Loss of residency, Appointments per line, Appointment duration, Cancelling an appointment, Termination comments, Discipline grounds, Bankruptcy notice, Revocation and appointments, Temporary license term, Temporary license scope, Renewal commissions, Assumed names, Fees beyond premium, Rebate recipients, Discrimination by producers, Boycott and coercion, False financial statements, Stock as inducement, Unfair discrimination, Overinsurance in loans, Unfair practice hearings, Cease and desist penalty, Claims practices enforcement, Claims practices, Blindness and deafness, Race and national origin, Card convenience fees, Lender insurance tie-ins, Pretext interviews, Privacy notice timing, Authorization form term, Investigative reports, Correcting records, Adverse underwriting decisions, False pretenses for information, Guaranty association notice, Ethical standards, Referral gratuities, CE repeat courses, CE record retention, CE carryover, CE credit calculation, Department inquiries, CE military waiver, Designation credit, CE before licensing, CE hours cap, CE extensions, Fraternal benefit societies, Fraternal voting, Tie-in sales, Life discrimination, Inducing lapse, Buyer's Guide adoption, Producer identification, Advisory titles, Dividend disclosure, Guaranteed vs nonguaranteed, Failure to give Buyer's Guide, Small face amount policies, Prearrangement disclosure, Replacement definition, Existing coverage statement, Sales material in replacement, Notifying the existing insurer, Replacement exemptions, Internal replacement credit, Replacement penalties, Replacement violations, Viatical settlement defined, Viatical rescission, Viatical licensing, Viatical insurer notice, Annuity disclosure by mail, Fair Credit Reporting Act, Fraud and false statements, Privacy and Do Not Call, USA PATRIOT Act AML, McCarran-Ferguson Act, Telephone Consumer Protection Act, Investigative report notice, Investigative report disclosure, Obsolete information, FCRA purpose, Consumer rights, False pretenses penalty, 18 USC 1033 consent, 18 USC 1033 penalties, Embezzlement by insurance persons, False statements to regulators, AML covered products, Suspicious activity reports, Cash reporting, AML program elements, Money laundering red flags, Do Not Call hours, Established business relationship, GLBA opt-out, GLBA initial notice, Nonpublic personal information, McCarran-Ferguson, South-Eastern Underwriters, Boycott exception, NAIC role, Federal securities regulation, Prospectus delivery, Producer license required, Certificate of authority, False advertising, Boycott coercion intimidation, Commingling, License revocation causes, National Producer Number, Replacement notice, Replacing insurer duty, Annuity best interest, Best interest obligations, Consumer profile information, Annuity training, Insurer supervision, Illustration signatures, Illustration prohibitions, Buyer's guide timing, Viatical settlement, Viatical broker duty, Settlement provider, Settlement vs surrender
Read the Insurance Regulation study guide
Sample questions & answers
1. How does North Carolina select the official who heads its Department of Insurance?
The Commissioner is elected by the voters in a statewide election
North Carolina's Commissioner of Insurance is elected by the people for a four-year term; only if the office becomes vacant mid-term does the Governor fill it for the rest of the term.
2. Which body is responsible for regulating insurers and licensing producers in North Carolina?
The North Carolina Department of Insurance
The North Carolina Department of Insurance (NCDOI), headed by the elected Commissioner of Insurance, supervises insurers and licenses producers operating in the state.
3. How many hours of continuing education must a resident North Carolina producer generally complete during each biennial compliance period?
24 hours
Each person holding a life, accident and health, property, casualty, personal lines or adjuster license must earn 24 continuing education credits (ICECs) in each biennial compliance period, no matter how many of those licenses are held.
4. Of the continuing education hours required each compliance period in North Carolina, how many must be in ethics?
At least 3 hours of ethics
The 24-hour biennial requirement must include ethics coursework totaling three credits (ICECs) every compliance period.
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
