Free Insurance Regulation Practice Questions
South Carolina Property & Casualty exam — 230 practice questions.
Subtopics: Certificate of authority, Surplus lines, Licensing exam, Adjuster licensing, Rate standards, Form filing, Coercion, Defamation, Boycott, Twisting, Continuing education scope, License lapse, Consumer complaints, Misappropriation, Unauthorized insurers, Director appointment, Director duties, Criminal violations, Financial examinations, Market conduct examinations, Refusal of examination, Examination powers, Examination costs, Producer records, Notice of hearing, Cease and desist, Administrative penalties, Acting without a license, Authority to operate, License required, License exemptions, Appointment, Assumed name, Applicant qualifications, Background checks, Licensing examination, License fees, Agency license, Exam waiver, Moving to South Carolina, Nonresident license, Temporary license, Appointment fees, Termination of appointment, Continuing education, Reinstatement, License renewal, Change of address, License discipline, Reporting of actions, Producer conduct, Rebating, Advertising gifts, Value-added services, Prohibited inducements, Misrepresentation, False advertising, Boycott, coercion, intimidation, Coercion by lenders, Claim misrepresentation, False financial statements, Unfair discrimination, Free insurance, Premium finance, Improper claim practices, Fraudulent applications, Fraud reporting, Fraud act, Fraud penalties, Fraud investigation, Fraudulent premium procurement, Fiduciary duty, Premium receipt, Commissions, Premium advances, Privacy notices, Opt out, Policy forms, Cancellation reasons, Cancellation notice, New business period, Nonrenewal notice, Renewal terms, Scope, Reasons on request, Workers compensation cancellation, Property cancellation notice, Director review, Change in risk, Flex rating, Insurance rate, Rate making, Rate law scope, Rate filings, Consumer Advocate, Wind exclusion discount, Guaranty association, Guaranty association limits, Guaranty association period, Guaranty association scope, Guaranty association accounts, Guaranty association assessments, Guaranty association claims, 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, Federal Insurance Office, Surplus lines regulation, Risk retention groups, Unfair trade practices, Fiduciary duties, Insurer solvency, Producer licensing, Fraud, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. An insurer that transacts insurance in South Carolina must hold:
A license (certificate of authority) from the director
Section 38-5-10 requires every insurer doing business in South Carolina to be licensed and supervised by the director; the license is commonly called a certificate of authority (see 38-5-120).
2. Coverage that cannot be obtained from admitted South Carolina insurers may be placed with:
A surplus lines insurer through a licensed broker
Surplus lines insurance is coverage on South Carolina risks placed through a licensed broker with an eligible nonadmitted insurer; under 38-45-90 eligible surplus lines insurers write risks that licensed insurers have declined.
3. To obtain a South Carolina property and casualty producer license, an applicant generally must:
Pass the state licensing examination
Section 38-43-100(B) requires a resident individual applying for a producer license to pass an examination covering the lines sought, producer duties, and South Carolina insurance law.
4. A person who investigates and settles insurance claims for an insurer in South Carolina generally must hold a:
Adjuster license
Section 38-47-10(A) requires an individual adjusting losses for a licensed insurer to be licensed by the director; licensed producers are exempt under 38-47-10(B)(1).
All Property & Casualty topics
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
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.
