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pg. 1 North Carolina Health Insurance License Test Newest 2025 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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- 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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- 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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