Free Insurance Regulation Practice Questions

North Carolina Property & Casualty exam — 230 practice questions.

Practice Insurance Regulation

Subtopics: Elected commissioner, NC Rate Bureau, NC Reinsurance Facility, Coastal Property Insurance Pool, FAIR Plan, CE total, Flood CE, Ethics CE, License continuation, Appointment, Auto termination notice, Auto nonrenewal notice, Unfair claims, Rebating, Misrepresentation, Guaranty association PC, Guaranty PC cap, Surplus lines, Producer discipline, Fiduciary, Reciprocity, Rate regulation, Producer record keeping, Twisting, Cancellation reasons, Proof of financial responsibility, Commissioner authority, OSFM, Commissioner term, Commissioner vacancy, Commissioner rulemaking, Hearings notice, Civil penalty range, Separate violations, Restitution, Judicial review deadline, Stay of order, Restraining order, Conviction suspends license, License surrender, Change of address, Address change fee, Conviction reporting, Notice by mail, Fraud reporting duty, Fraud report immunity, False claim felony, Embezzlement, Producer records, Agency records person, Refusing examination, Contract of insurance, Representations not warranties, Proof of loss forms, Twisting definition, Unlicensed activity, Lender tying, Credit card convenience fee, Representation insurer vs insured, Broker defined, Referral without license, Referral fee cap, Commissions to unlicensed, Renewal commissions, Lines of authority, Property line defined, Personal lines defined, License duration, Business entity license, Entity designated producer, Minimum age, Prelicensing education, Exam scope, Denial review, Border county residency, Nonresident license, Moving into NC, Leaving NC, Nonresident CE, Administrative action report, Criminal prosecution report, Appointment filing, Appointment duration, Termination notice, Notice to terminated producer, Producer comments, Overinsuring property, Unauthorized insurer discipline, Cheating on exam, Bankruptcy notice, Revocation and appointments, Temporary license, Temporary license eligibility, Producer as adjuster, Assumed name, Rebating defined, Insured accepting rebate, Service fees, Service fee consent form, Signing blank policies, Unauthorized insurer liability, Knowing unauthorized sales, Premium to producer, False application statement, Repair shop referral, Gratuity from repairer, Identify NPN, Salvage purchase, Discouraging counsel, Power of attorney, Premium receipts, Commingling, Complaint register, CE hours, CE deadline, CE carryover, CE records, CE reinstatement, Repeating a course, Designation CE, ICEC minutes, CE military waiver, Pretext interviews, Authorization length, Access to information, Adverse underwriting decision, Notice of information practices, Defamation, Boycott, Geographic discrimination, Unfair claims general practice, Cease and desist violation, Borrower information, Commissioner investigation, False pretenses, Independently procured, Unauthorized insurer contracts, Surplus lines and guaranty, Guaranty cap, Guaranty WC, Guaranty unearned premium, Guaranty 30 days, Guaranty exclusions, Guaranty accounts, Guaranty assessment cap, Rate Bureau jurisdiction, Rate filing effective date, Deemer, Burden of proof rates, Deviation, Coverage or rate change notice, Rate Bureau forms, Credit scoring limits, NCIUA name, NCIUA area, Market of last resort, NCIUA membership, Essential property insurance, NCIUA insurable property, NCIUA application, NCIUA terms, NCIUA wind-only eligibility, NCIUA catastrophe adjusting, NCIUA producer binding, NCIUA appeal, Catastrophe recovery charge, FAIR Plan area, FAIR Plan association, FAIR Plan coverages, FAIR Plan producer, FAIR Plan plan review, Art 41 scope, Art 41 cancel reasons, Art 41 cancel notice, Art 41 new policy, Art 41 nonrenewal, Art 41 mid-term changes, Art 41 mortgagee, Art 41 renewal terms, Art 41 credit card chargeback, Paid policy cancelled, Consent to rate HO, Consent to rate notice, Wind/hail rate split, Mitigation credits, Age of home discrimination, Facility membership, Facility take-all-comers, Producer must bind, Cession notice, Ceded policy cancel 45 days, Reasons for cession, Facility minimum cession, Facility umbrella limits, Facility physical damage, Facility same service, Facility board, Facility eligible risk, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Unfair claims settlement, Anti-money laundering, Fraud warning statements, Federal Insurance Office, Surplus lines regulation, Risk retention groups, Unfair trade practices, Fiduciary duties, Insurer solvency, Producer licensing, Fraud, Federal regulation

Read the Insurance Regulation study guide

Sample questions & answers

1. The official who regulates property and casualty insurers in North Carolina reaches office by being:

Elected by North Carolina voters

North Carolina's Commissioner of Insurance is elected statewide, unlike states that appoint their insurance regulator.

2. A distinctive North Carolina entity that develops and files rates for many personal lines, including auto and homeowners, is the:

North Carolina Rate Bureau

The North Carolina Rate Bureau is an unusual statutory body that makes rate filings for lines such as private passenger auto, homeowners, and workers' compensation, subject to the Commissioner's review.

3. North Carolina's mechanism that allows auto insurers to cede higher-risk drivers so that coverage is available is the:

North Carolina Reinsurance Facility

The North Carolina Reinsurance Facility is a residual market mechanism letting insurers cede eligible auto risks, helping ensure availability of required auto coverage.

4. Coastal property owners who cannot obtain windstorm coverage in the standard market may turn to North Carolina's:

North Carolina Insurance Underwriting Association

The North Carolina Insurance Underwriting Association runs the Coastal Property Insurance Pool (formerly the Beach Plan), the market of last resort for property, including wind and hail, in the beach and coastal areas.

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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.