Free Insurance Regulation Practice Questions
North Dakota Life exam — 171 practice questions.
Subtopics: Regulatory body, Commissioner selection, Commissioner authority, Producer definition, License requirement, Nonresident licensing, Appointment, Ethics CE, License discipline, Rebating, Twisting, Unfair trade practices, Misappropriation, Fiduciary duty, Guaranty association, Defamation, License renewal, Temporary license, Fraud reporting, Applying for a license, Address change, Advertising, Financial examination, Insurance code, Exam vendor, Exam format, Exam passing score, Retesting, Cease and desist, Administrative fines, Injunctions, Examination of records, Solicit defined, License authority, Unlicensed activity, Sharing commissions, Service fees, Unlicensed sales, Agent of insurer, License exemptions, Lines of authority, Applicant age, Background check, Business entities, Incomplete applications, Residency, New residents, Assumed names, License term, Continuing education, CE exemptions, CE for instructors, CE course content, CE credit hour, Nonresident CE, Exam validity, Appointments, Termination of appointment, Termination immunity, License refusal, Grounds for discipline, Nonresident discipline, Reporting actions, Civil penalties, Controlled business, Client loans, Suitability, Consultants, Stock inducements, Unfair discrimination, Blindness, Unfair claims practices, Unearned premium, Coercion by lenders, Unfair practice penalties, Criminal penalties, Misrepresentation, Fraud immunity, Fraud penalties, Felony convictions, Fraud restitution, Privacy, Fair Credit Reporting Act, Telemarketing, Gramm-Leach-Bliley 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, Commissioner powers, False advertising, Boycott coercion intimidation, Commingling, License revocation causes, National Producer Number, Replacement definition, Replacement notice, Replacing insurer duty, Replacement free look, 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. Which entity is responsible for regulating the business of insurance in North Dakota?
The North Dakota Insurance Department
The North Dakota Insurance Department regulates insurers and licenses producers operating in the state.
2. How does a person become the Commissioner of Insurance in North Dakota?
Elected by North Dakota voters
The North Dakota Constitution makes the insurance commissioner an elected statewide official chosen by the voters for a four-year term.
3. Which of the following is a primary responsibility of the North Dakota Commissioner of Insurance?
Administering and enforcing the state insurance laws
N.D.C.C. 26.1-01-03 directs the commissioner to see that all insurance laws are faithfully executed, including licensing and enforcement.
4. Under North Dakota law, an insurance producer is a person who is:
Required to be licensed to sell, solicit, or negotiate insurance
N.D.C.C. 26.1-26-02 defines an insurance producer as a person required to be licensed to sell, solicit, or negotiate insurance.
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.
