wrong questions property 5

The law doesn’t prohibit a lender from refusing to accept a binder as evidence of insurance, if the refusal is:

written

When can a lender require someone to purchase insurance from them as part of the condition to approve their loan?

never

Which of the following entities does the Commissioner of Insurance NOT have the authority to examine its business records?

policyholders

an agent who illegally discounts insurance premium is said to be engaged in

rebating

An agent who sells insurance policies for an unauthorized insurer in North Carolina may be personally liable for

all claims from policies sold by the agent

If a blank insurance contract application is signed by an agent, the agent

is guilty of a misdemeanor

North Carolina insurance law specifically allows the Commissioner of Insurance to issue a temporary license to which of the following individuals?

a surviving spouse of a deceased agent

The Commissioner of Insurance is NOT permitted to

set insurance rates within the state

An insurance applicant was recently denied insurance coverage. The applicant is requesting access from the insurer to recorded personal information regarding this decision. Under the Information and Privacy Protection Act, the insurer MUST make the information available within ___ business days.

30

XYZ insurance Company would like to begin conducting business in North Carolina. Before XYZ can issue or deliver a Health policy, the form, classification of risks, and premium rates MUST be filed with the

commissioner of insurance

All of the following are elements of an insurable risk, EXCEPT:

catastrophic perils

The amount of risk presented by the insured to the insurer is known as:

exposure

A professional photographer would consider purchasing which inland marine coverage form to cover their cameras and related equipment?

commercial articles coverage form