XCEL North Carolina Laws and Rules Questions and
Answers 2023 with complete solution
Which of the following is NOT an unfair claim settlement practice?
Needing written documentation of claim details
Z is an agent who violated the Insurance Information and Privacy Protection Act. Z was
then issued and served a statement of charges and notice of hearing by the
Commissioner of Insurance. Z's hearing date must be at least ____ days after service of
charges.
10
K sent a renewal premium payment to her insurer that would extend her coverage
beyond the policy's maximum age limit. If the insurer accepts this premium payment, it:
Must continue the coverage to the end of the period of time for which the premium was
accepted
The Commissioner of Insurance has notified an insurer that an Individual Health Policy
form does not comply with North Carolina laws. The insurer may:
Not issue the form in connection with any new application
In North Carolina, which of the following MUST be delivered to a policyowner upon the
sale of an individual life insurance policy?
A Policy Summary and Buyer's Guide
S is a life insurance policyowner and enters into a written agreement to receive
immediate cash in exchange for the sale and transfer of her life insurance policy. This
agreement is referred to as a(n):
Viatical Settlement
In North Carolina, an agent obtains his/her license from the:
Commissioner of Insurance
An agent inducing an insured to lapse, forfeit, or surrender insurance through
misrepresentation is committing the illegal act of:
Twisting
Industrial health insurance is a form of health insurance that:
All of the above; Have a minimum grace period of 4 weeks for additional death benefit
premium, have a maximum of 2 years incontestability provision of the death benefit, and
have a noncacellable death benefit unless due to nonpayment of premium
An eligible employee has a MAXIMUM of ____ days after their first day of employment
to be added to group health coverage.
90
XYZ Insurance Company would like to begin conducting business in North Carolina.
Before XYZ can issue or deliver a Health policy, the form, classification of risks, and
premium rates MUST be filled with the:
Commissioner of Insurance
Life and Health Insurance Guaranty Association in North Carolina has regulations that
apply ONLY to:
Life and Health policies issued by companies authorized in North Carolina
At what point during a transaction does a nonresident agent need a licensed resident
agent to countersign any documents, policies, applications, or other insurance forms?
Answers 2023 with complete solution
Which of the following is NOT an unfair claim settlement practice?
Needing written documentation of claim details
Z is an agent who violated the Insurance Information and Privacy Protection Act. Z was
then issued and served a statement of charges and notice of hearing by the
Commissioner of Insurance. Z's hearing date must be at least ____ days after service of
charges.
10
K sent a renewal premium payment to her insurer that would extend her coverage
beyond the policy's maximum age limit. If the insurer accepts this premium payment, it:
Must continue the coverage to the end of the period of time for which the premium was
accepted
The Commissioner of Insurance has notified an insurer that an Individual Health Policy
form does not comply with North Carolina laws. The insurer may:
Not issue the form in connection with any new application
In North Carolina, which of the following MUST be delivered to a policyowner upon the
sale of an individual life insurance policy?
A Policy Summary and Buyer's Guide
S is a life insurance policyowner and enters into a written agreement to receive
immediate cash in exchange for the sale and transfer of her life insurance policy. This
agreement is referred to as a(n):
Viatical Settlement
In North Carolina, an agent obtains his/her license from the:
Commissioner of Insurance
An agent inducing an insured to lapse, forfeit, or surrender insurance through
misrepresentation is committing the illegal act of:
Twisting
Industrial health insurance is a form of health insurance that:
All of the above; Have a minimum grace period of 4 weeks for additional death benefit
premium, have a maximum of 2 years incontestability provision of the death benefit, and
have a noncacellable death benefit unless due to nonpayment of premium
An eligible employee has a MAXIMUM of ____ days after their first day of employment
to be added to group health coverage.
90
XYZ Insurance Company would like to begin conducting business in North Carolina.
Before XYZ can issue or deliver a Health policy, the form, classification of risks, and
premium rates MUST be filled with the:
Commissioner of Insurance
Life and Health Insurance Guaranty Association in North Carolina has regulations that
apply ONLY to:
Life and Health policies issued by companies authorized in North Carolina
At what point during a transaction does a nonresident agent need a licensed resident
agent to countersign any documents, policies, applications, or other insurance forms?
