NC Health Insurance Exam Questions With Correct Answers.

NC Health Insurance Exam Questions With
Correct Answers
Definitions |- |Broker |- |VERIFIED |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 |- |VERIFIED |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 |- |VERIFIED |ANSWER✔✔-Means |to |Obtain



Representation |1 |- |VERIFIED |ANSWER✔✔-Every |agent |or |limited |representative |represents |the |
INSURANCE |COMPANY |and |NOT |the |insured |or |his |beneficiary.



Representation |2 |- |VERIFIED |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 |- |VERIFIED |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 |- |VERIFIED |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 |- |VERIFIED |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 |



AKA |- |Limited |Rep.



General |License |Requirements |- |VERIFIED |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 |- |VERIFIED |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 |- |VERIFIED |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 |- |VERIFIED |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 |- |VERIFIED |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 |- |VERIFIED |ANSWER✔✔-Each |applicant |for |a |MEDICARE |SUPPLEMENT |AND |
LONG-TERM |CARE |LICENSE |will |show |satisfactory |completion |of |a |10 |hour |pre-licensing |course.