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  2. North Carolina
  3. Property & Casualty
  4. Insurance Regulation

Free Insurance Regulation Practice Questions

North Carolina Property & Casualty exam — 38 practice questions.

Subtopics: Elected commissioner, NC Rate Bureau, NC Reinsurance Facility, Beach Plan, FAIR Plan, CE total, Flood CE, Ethics CE, License continuation, Appointment, Cancellation notice auto, Nonrenewal notice, Unfair claims, Rebating, Misrepresentation, Guaranty association PC, Guaranty PC cap, Surplus lines, Producer discipline, Fiduciary, Reciprocity, Rate regulation, Producer record keeping, Twisting, Cancellation reasons, Proof of financial responsibility, Commissioner authority, OSFM, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Unfair claims settlement, Anti-money laundering, Fraud warning statements

Read the Insurance Regulation study guide

Sample questions & answers

1. The official who regulates property and casualty insurers in North Carolina reaches office by being:

Elected by North Carolina voters

North Carolina's Commissioner of Insurance is elected statewide, unlike states that appoint their insurance regulator.

2. A distinctive North Carolina entity that develops and files rates for many personal lines, including auto and homeowners, is the:

North Carolina Rate Bureau

The North Carolina Rate Bureau is an unusual statutory body that makes rate filings for lines such as private passenger auto, homeowners, and workers' compensation, subject to the Commissioner's review.

3. North Carolina's mechanism that allows auto insurers to cede higher-risk drivers so that coverage is available is the:

North Carolina Reinsurance Facility

The North Carolina Reinsurance Facility is a residual market mechanism letting insurers cede eligible auto risks, helping ensure availability of required auto coverage.

4. Coastal property owners who cannot obtain windstorm coverage in the standard market may turn to North Carolina's:

Coastal property plan (Beach Plan / Insurance Underwriting Association)

The North Carolina Insurance Underwriting Association, commonly called the Beach Plan, provides property coverage including wind and hail for eligible coastal and beach-area risks.

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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.