North Carolina Health Insurance License Test Newest

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pg. 1 North Carolina Health Insurance License Test Newest Actual Exam Test Bank With 200 Questions and Correct Answers (Verified Answers) Already Graded A+|| New!!

An employer responsible for paying part or all of the premium for a group life or group health plan cannot willfully fail to pay the premium without first giving the employees how many days advance notice?

• 15
• 30
• 45
• 60 - Correct Answer - C.

All of the following could be considered rebates if offered to an insured in the sale of insurance except

• Stocks, securities, or bonds
• An offer to share in commissions generated by the sale
• Dividends from a mutual insurer
• An offer of employment - Correct Answer - C.

In the event apology lapse is due to non-payment of premium, within how many days would the policy be automatically reinstate once the outstanding premium is paid?

• 10 days
• 25 days 1 / 4

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pg. 2

• 30 days
• 45 days - Correct Answer - D.

Which of the following entities protects policy owners, insured's, and beneficiaries under insurance contracts when insurers failed to perform contractual obligation's due to financial impairment

• Insurance consumer protectorate
• Insurance Solvency Association
• Consumer protection agency
• Insurance guaranty association - Correct Answer - D.

Which provision states that the insurance company must pay medical expense claims immediately?

• Time of payment of claims
• Payment of claims
• Legal actions
• Relation of earnings to insurance - Correct Answer - A.

The purpose of managed care health insurance plans is to..

• Give the insured an unlimited choice of providers
• Coordinate benefits
• Control health insurance claims expenses
• Provide for the continuation of coverage when an employee leaves

the plan - Correct Answer - C 2 / 4

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pg. 3 How long does a North Carolina agent have to notify the department of insurance in the event of a change in residence address?

• A change of residence address does not require notification
• 10 business days
• 30 business days
• 60 business days - Correct Answer - B.

The regulation of the insurance industry primarily rests with

• Private insurers
• The federal government
• The state
• The NAIC - Correct Answer - C.

In disability income insurance, the time between the onset of an injury or sickness and benefits begin is known as the

• Enrollment period
• Probationary period
• Elimination period
• Qualification period - Correct Answer - C.

If a consumer request additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply

• 7 days 3 / 4

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pg. 4

• 10 days
• 3 days
• 5 days - Correct Answer - D.

Which renewal option does NOT guarantee renewal and allows the insurance company to refuse renewal of a policy at any premium due date?

• Non-Cancellable
• Optional renewable
• Conditionally renewable
• Guaranteed renewable - Correct Answer - B.

Which of the following statements regarding business overhead expense policies is NOT true?

• Premiums paid for BOE are tax deductible
• Any benefits received are taxable to the business
• Leased equipment expenses are covered by the plan
• Benefits are usually limited to six months - Correct Answer - D.

Under workers compensation, which of the following benefits are NOT included

• Income benefits
• Death benefits
• Legal benefits
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