NC Property Insurance, Nc Adjusters
Exam Questions & Answers 2025 Latest
Update
Which type of claims adjuster handles property and liability claims? - ANS ✔ - Both Multiline and All-
lines
Which of the following people would NOT be covered by the standard business auto policy? - ANS ✔
- A person from whom the named insured borrows a covered auto
Passive unfair claim settlement practice - ans ✔ - 1. Failing to act promptly upon receiving a claim
2. Failing to implement reasonable standards for the prompt investigation of claims
3. Failing to affirm or deny coverage within a reasonable time after receiving the proof of loss
A property policy pays acv at.. - ans ✔ - the time of a loss
A premium overpaid for a sum in excess of a building's acv must be reimbursed at.. - ans ✔ - 6%
annual interest from the date of issue
Who must approve & license an employer who wants to self-insure? - ans ✔ - the commissioner
An application for licensing as a self-insurer must be filed - ans ✔ - at least 90 days prior to proposed
licensing date
If a self-insurance for workers' compensation license is denied, the employer has ___ days to correct
deficiencies without reapplying - ans ✔ - 60
An application for workers' compensation self-insurance license must have at least ___ in total fixed
assets - ans ✔ - 500k
, The reason for policy cancellation after the first 60 days of the policy term that is not acceptable
under north carolina policy cancellation statutes: - ans ✔ - the insured has submitted an excessive
number of claims in the past 3 years
The reason for policy cancellation after the first 60 days of the policy term that is acceptable under
north carolina policy cancellation statutes: - ans ✔ - if a policy has been in effect for less than 60 days
and is not a renewal of a policy, it may be cancelled for any reason by furnishing to the insured at
least 15 days prior written notice of and reasons for cancellation; otherwise a cancellation must
comply with the north carolina cancellation statutes.
The insured can request the following initial information be added to a property policy, except: - ans
✔ - claim surcharge
The insured can request the following initial information be added to a property policy - ans ✔ - 1.
Deficiency charge
2. Basis rate
3. Property improvement credits
A home loan provide may accept a binder as long as it - ans ✔ - includes specified identifying
information and may not be cancelled without 10 days' written notice to the mortgagee.
Each insurer or its agents must maintain a record of all written complaints for at least _____ years after
the complaint's final disposition or, for domestic companies, until the commissioner adopts a final
report of a general examination that contains a review of these records, whichever is later. - ans ✔ -
5
The north carolina motor vehicle reinsurance facility provides automobile insurance to - ans ✔ -
motor vehicles, which are self-propelled vehicles designed for use on a highway, including
motorcycles, but not farm or construction equipment.
True statements regarding sdip plan surcharges - ans ✔ - an insurer may provide for premium
surcharges for insureds having less than 3 years' driving experience as licensed drivers.
Ship points must be commensurate with the severity of the claimant's injury
A sub classification plan surcharge must be applied to a policy for 3 policy years
Exam Questions & Answers 2025 Latest
Update
Which type of claims adjuster handles property and liability claims? - ANS ✔ - Both Multiline and All-
lines
Which of the following people would NOT be covered by the standard business auto policy? - ANS ✔
- A person from whom the named insured borrows a covered auto
Passive unfair claim settlement practice - ans ✔ - 1. Failing to act promptly upon receiving a claim
2. Failing to implement reasonable standards for the prompt investigation of claims
3. Failing to affirm or deny coverage within a reasonable time after receiving the proof of loss
A property policy pays acv at.. - ans ✔ - the time of a loss
A premium overpaid for a sum in excess of a building's acv must be reimbursed at.. - ans ✔ - 6%
annual interest from the date of issue
Who must approve & license an employer who wants to self-insure? - ans ✔ - the commissioner
An application for licensing as a self-insurer must be filed - ans ✔ - at least 90 days prior to proposed
licensing date
If a self-insurance for workers' compensation license is denied, the employer has ___ days to correct
deficiencies without reapplying - ans ✔ - 60
An application for workers' compensation self-insurance license must have at least ___ in total fixed
assets - ans ✔ - 500k
, The reason for policy cancellation after the first 60 days of the policy term that is not acceptable
under north carolina policy cancellation statutes: - ans ✔ - the insured has submitted an excessive
number of claims in the past 3 years
The reason for policy cancellation after the first 60 days of the policy term that is acceptable under
north carolina policy cancellation statutes: - ans ✔ - if a policy has been in effect for less than 60 days
and is not a renewal of a policy, it may be cancelled for any reason by furnishing to the insured at
least 15 days prior written notice of and reasons for cancellation; otherwise a cancellation must
comply with the north carolina cancellation statutes.
The insured can request the following initial information be added to a property policy, except: - ans
✔ - claim surcharge
The insured can request the following initial information be added to a property policy - ans ✔ - 1.
Deficiency charge
2. Basis rate
3. Property improvement credits
A home loan provide may accept a binder as long as it - ans ✔ - includes specified identifying
information and may not be cancelled without 10 days' written notice to the mortgagee.
Each insurer or its agents must maintain a record of all written complaints for at least _____ years after
the complaint's final disposition or, for domestic companies, until the commissioner adopts a final
report of a general examination that contains a review of these records, whichever is later. - ans ✔ -
5
The north carolina motor vehicle reinsurance facility provides automobile insurance to - ans ✔ -
motor vehicles, which are self-propelled vehicles designed for use on a highway, including
motorcycles, but not farm or construction equipment.
True statements regarding sdip plan surcharges - ans ✔ - an insurer may provide for premium
surcharges for insureds having less than 3 years' driving experience as licensed drivers.
Ship points must be commensurate with the severity of the claimant's injury
A sub classification plan surcharge must be applied to a policy for 3 policy years
