NC HEALTH INSURANCE EXAM PEARSON VUE QUESTIONS WITH 100% CORRECT SOLUTIONS | GUARANTEED SUCCESS.

NC HEALTH INSURANCE EXAM PEARSON VUE QUESTIONS WITH 100% CORRECT
SOLUTIONS | GUARANTEED SUCCESS.




Definitions - Broker - (answer)Means a person who, being a licensed agent, procures insurance for a
party other than himself through a duly authorized agent or an insurer that is licensed to do business in
this State bur for which the broker is not authorized to act as an agent.



Definitions - Limited Representative - (answer)Means a person is authorized by the Commissioner
(Wayne Goodwin) to solicit or negotiate contracts for particular kinds of insurance (Motor Club, Dental,
Travel) and which kind of insurance is restricted in the scope of coverage afforded.



Procure - (answer)Means to Obtain



Representation 1 - (answer)Every agent or limited representative represents the INSURANCE COMPANY
and NOT the insured or his beneficiary.



Representation 2 - (answer)Every broker in any controversy between the insured or his beneficiary is
regarded as representing the INSURED OR HIS BENEFICIARY and NOT the insurer.



General License Requirements - (answer)A life insurance license authorized a resident agent to sell
variable contract if the agent satisfies the Commissioner (Wayne Goodwin) that the agent has met the
Financial Industry Regulatory Authority (FINRA) requirements of the Secretary of State in NC.



General License Requirements - (answer)A health insurance license authorizes a resident agent to sell
Medicare supplement and long-term care insurance policies if the agent takes and passes a
supplemental written examination for the insurance license.



General License Requirements - (answer)A limited rep., may receive qualification for one or more
licenses without examination for the following kinds of insurance:

1. Dental

2. Credit Life

3. Motor Club

4. Prearrangement Insurance

5. Travel Accident and Baggage

, NC HEALTH INSURANCE EXAM PEARSON VUE QUESTIONS WITH 100% CORRECT
SOLUTIONS | GUARANTEED SUCCESS.




AKA - Limited Rep.



General License Requirements - (answer)NO licensed agent, broker, or limited rep., shall solicit
anywhere in the boundaries of this State, or receive or transmit an application or premium of insurance,
for a company not licensed to do business in this State.



General License Requirements - (answer)NO agent shall place a policy of insurance with any insurer
unless the agent has a current appointment as agent for the insurer.



ex: BCBS appoints me permission to sell their products.



General License Requirements - (answer)A business entity that sells, negotiates, or solicits insurance
shall be licensed. EVERY MEMBER OF THE BUSINESS PERSONALLY ENGAGED IN THIS STATE IN
SOLICITING POLICIES OF INSURANCE SHALL QUALIFY AS AN INDIVIDUAL LICENSEE



EX: FullHR waiting to hire me due to needing my Health Insurance License.



General License Requirements - (answer)A license issued to an agent authorizes him to at until his
license is otherwise suspended or revoked. Upon suspension or revocation of a license, the licensee shall
return it to the Commissioner (Wayne Goodwin).



General License Requirements - (answer)A license of a broker, limited representative, adjuster, or motor
vehicle damage appraiser shall be renewed on April 1st each year, and renewal fees shall be paid.



Education and Training - (answer)Each applicant for a MEDICARE SUPPLEMENT AND LONG-TERM CARE
LICENSE will show satisfactory completion of a 10 hour pre-licensing course.



Brokers - Bond - (answer)Prior to issuance of a license as a broker, the applicant shall file with the
Commissioner (Wayne Goodwin) and thereafter, for as long as the license remains in effect, shall keep in
force a bond in favor of the State of NC for use of the aggrieved parties in sum not less than $15,000.