North Carolina Property and Casualty Exam with all
Correct & 100% Verified Answers |Actual Complete
Update |Already Graded A+
All of the following are true for resident North Carolina agents EXCEPT: ✔Correct Answer-
Maintain and office in North Carolina
All of the following are true for resident North Carolina agents: ✔Correct Answer-•Pay taxes
in North Carolina
•At least age 18
•Pass the required exam
Which of the following would obtain a temporary license? ✔Correct Answer-Executor of
estate of resident agent
Misrepresenting a policy to convince someone to replace it is called: ✔Correct Answer-
Twisting
Under contract law, the actions by a party may intentionally and voluntarily give up a known
right. When this occurs, it is known as creating a: ✔Correct Answer-Waiver
Before any action against an agent's license may be taken the agent must: ✔Correct Answer-
Be given the opportunity to be heard
An agent in North Carolina must report a change of residency within: ✔Correct Answer-10
days
As of 2010 if an agent has only one license, he must complete continuing education in the
following manor: ✔Correct Answer-24 hours on a biennial basis
If an insured changes his payment plan from monthly to annually, what happens to the total
premium? ✔Correct Answer-Decreases
An insurer is attempting to determine insurability of an applicant and decides to obtain
information from several different sources. Which entity must be notified of the investigation?
✔Correct Answer-The applicant
Which of the following is not an essential element of an insurance contract? ✔Correct
Answer-Incompetent parties
, The dwelling DP-3 automatically includes all of the following: ✔Correct Answer-•Coverage A-
Dwelling
•Coverage B-Other Structures @10%
•Coverage D- Fair Rental Value @10%
The dwelling DP-3 automatically includes all of the following EXCEPT: ✔Correct Answer-
Coverage C -Personal Property @ 50%
Agent Z takes an application for a policy and accepts a check for the first premium. The
application and check are mailed to the insurer, who discovers the check is not signed. When
will coverage for the policy go into effect? ✔Correct Answer-When the policy is issued,
delivered, and the premium is paid
Which of the following is true about examination of agent records by the Bureau? ✔Correct
Answer-They may be disclosed at any time
G is on the way to the office to turn in an insurance application that he completed last night. He
suddenly discovers that the applicant made out the check to the agent. What should the agent
do? ✔Correct Answer-Immediately return the check to the applicant
If an agent mixes client funds with his own, the first thing the Bureau will probably do is:
✔Correct Answer-Issue a cease and desist order
Giving the prospect anything of value as a condition of the sale is called: ✔Correct Answer-
Rebating
A Third Party Administrator of a self-insured worker's compensation plan does all the following:
✔Correct Answer-•Enroll the group members
•collect premiums from group members
•process claims of group members
A Third Party Administrator of a self-insured worker's compensation plan does all the following
Except: ✔Correct Answer-Insure the group members
The commissioner of Insurance can do all the following: ✔Correct Answer-•Examine insurers
in person or through a representative
• suspend an agent's license while an investigation is pending
• issue administrative orders to carry out the insurance laws
The commissioner of Insurance can do all the following EXCEPT: ✔Correct Answer-Waive
policy provisions in favor of an insured
A major factor in determining insurance premium is: ✔Correct Answer-Expenses of the
insurer
Correct & 100% Verified Answers |Actual Complete
Update |Already Graded A+
All of the following are true for resident North Carolina agents EXCEPT: ✔Correct Answer-
Maintain and office in North Carolina
All of the following are true for resident North Carolina agents: ✔Correct Answer-•Pay taxes
in North Carolina
•At least age 18
•Pass the required exam
Which of the following would obtain a temporary license? ✔Correct Answer-Executor of
estate of resident agent
Misrepresenting a policy to convince someone to replace it is called: ✔Correct Answer-
Twisting
Under contract law, the actions by a party may intentionally and voluntarily give up a known
right. When this occurs, it is known as creating a: ✔Correct Answer-Waiver
Before any action against an agent's license may be taken the agent must: ✔Correct Answer-
Be given the opportunity to be heard
An agent in North Carolina must report a change of residency within: ✔Correct Answer-10
days
As of 2010 if an agent has only one license, he must complete continuing education in the
following manor: ✔Correct Answer-24 hours on a biennial basis
If an insured changes his payment plan from monthly to annually, what happens to the total
premium? ✔Correct Answer-Decreases
An insurer is attempting to determine insurability of an applicant and decides to obtain
information from several different sources. Which entity must be notified of the investigation?
✔Correct Answer-The applicant
Which of the following is not an essential element of an insurance contract? ✔Correct
Answer-Incompetent parties
, The dwelling DP-3 automatically includes all of the following: ✔Correct Answer-•Coverage A-
Dwelling
•Coverage B-Other Structures @10%
•Coverage D- Fair Rental Value @10%
The dwelling DP-3 automatically includes all of the following EXCEPT: ✔Correct Answer-
Coverage C -Personal Property @ 50%
Agent Z takes an application for a policy and accepts a check for the first premium. The
application and check are mailed to the insurer, who discovers the check is not signed. When
will coverage for the policy go into effect? ✔Correct Answer-When the policy is issued,
delivered, and the premium is paid
Which of the following is true about examination of agent records by the Bureau? ✔Correct
Answer-They may be disclosed at any time
G is on the way to the office to turn in an insurance application that he completed last night. He
suddenly discovers that the applicant made out the check to the agent. What should the agent
do? ✔Correct Answer-Immediately return the check to the applicant
If an agent mixes client funds with his own, the first thing the Bureau will probably do is:
✔Correct Answer-Issue a cease and desist order
Giving the prospect anything of value as a condition of the sale is called: ✔Correct Answer-
Rebating
A Third Party Administrator of a self-insured worker's compensation plan does all the following:
✔Correct Answer-•Enroll the group members
•collect premiums from group members
•process claims of group members
A Third Party Administrator of a self-insured worker's compensation plan does all the following
Except: ✔Correct Answer-Insure the group members
The commissioner of Insurance can do all the following: ✔Correct Answer-•Examine insurers
in person or through a representative
• suspend an agent's license while an investigation is pending
• issue administrative orders to carry out the insurance laws
The commissioner of Insurance can do all the following EXCEPT: ✔Correct Answer-Waive
policy provisions in favor of an insured
A major factor in determining insurance premium is: ✔Correct Answer-Expenses of the
insurer
