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  4. Insurance Regulation

Free Insurance Regulation Practice Questions

North Carolina Life exam — 38 practice questions.

Subtopics: Commissioner selection, Regulatory authority, Continuing education, Ethics CE, CE compliance date, License reinstatement, Prelicensing, Licensing exam, Nonresident licensing, Appointment, Appointment termination, Fiduciary duty, Unfair trade practices, Rebating, Twisting, Churning, Defamation, Misrepresentation, Unfair claims practices, Replacement, Free look, Free look replacement, Guaranty association, Guaranty association limits, Guaranty association advertising, Insurance fraud, Commissioner powers, License denial, Controlled business, Certificate of authority, Producer reporting, Flood CE, Fair Credit Reporting Act, Fraud and false statements, Privacy and Do Not Call, USA PATRIOT Act AML, McCarran-Ferguson Act, Telephone Consumer Protection Act

Read the Insurance Regulation study guide

Sample questions & answers

1. How does North Carolina select the official who heads its Department of Insurance?

The Commissioner is elected by the voters in a statewide election

Unlike many states where the insurance commissioner is appointed, North Carolina's Commissioner of Insurance is an elected official chosen in a statewide partisan election.

2. Which body is responsible for regulating insurers and licensing producers in North Carolina?

The North Carolina Department of Insurance

The North Carolina Department of Insurance (NCDOI), headed by the elected Commissioner of Insurance, supervises insurers and licenses producers operating in the state.

3. How many hours of continuing education must a resident North Carolina producer generally complete during each biennial compliance period?

12 hours

North Carolina requires resident licensees to complete 24 credit hours of continuing education during each two-year compliance period, regardless of how many licenses are held.

4. Of the continuing education hours required each compliance period in North Carolina, how many must be in ethics?

At least 3 hours of ethics

North Carolina requires that at least 3 of the 24 continuing education hours each compliance period be completed in approved ethics courses.

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Practice: Insurance Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.