Chapter 7 Life Flashcards
AT LEAST how many days before the effective date of a rate increase must an insurer provide written notice to individual accident and health policyowners?
30
Every insurance agent/broker MUST maintain all records, books, and documents for insurance transactions for a period of not less than
5 years
An agent who signs a blank contract application or policy of insurance
is guilty of a misdemeanor
If an insurer has been notified by the Commissioner of Insurance that an individual Health Policy form does not comply with the state’s laws, the insurer may
not issue the form in connection with any new application
Insurers organized under the laws of North Carolina are called
domestic companies
The Insurance Information and Privacy Protection Act is designed to limit or direct the information collection activities of all of the following EXCEPT
agents and limited representatives
insurance support organizations
insurance regulators
insurance companies
insurance regulators
Which of the following requires that an applicant for an individual Health Policy be notified of an investigation into his personal character, general reputation, and mode of living?
Consumer Protection Agency
Fair Labor Standards Board
Insurance Information and Privacy Protection Act
Civil Rights Act
Insurance Information and Privacy Protection Act
An insurance company MUST clearly specify questions designed to obtain information solely for marketing research
in any insurance transaction
When L applies for a Health Insurance Policy, L unintentionally fails to list a previous visit to a cardiologist. If the insurance company contests the policy, it MUST do so within 2 years
from the date of issue
The policyholder has how many days to return an Accident/Health Insurance Policy and receive a full refund on premiums?
10
An insurance broker in North Carolina is a representative of the
insured
Continuation of coverage of a group Hospital, Surgical, and Major Medical Policy MUST include
hospital expenses
Every Group Health Policy providing benefits for chemical dependency treatments must include, for the life of the contract, a
minimum benefit of $16,000
An agent who sells an individual life insurance policy in North Carolina MUST deliver to the policyowner
A Policy Summary and Buyer’s Guide
According to the Information and Privacy Protection Act, when access to recorded personal information is requested following an adverse underwriting decision, the insurer must make the information available within how many business days?
30
Inducing or attempting to induce any insured person through misrepresentation to lapse, forfeit, or surrender insurance is
twisting