#1
Which department in North Carolina oversees insurance regulations?
Department of Transportation
Department of Insurance
Department of Finance
Department of Commerce
#2
What is the minimum age requirement to purchase an insurance policy in North Carolina?
#3
Which type of insurance policy typically covers damage to a home's structure and belongings from perils such as fire and theft?
Life insurance
Health insurance
Auto insurance
Homeowners insurance
#4
Which North Carolina law requires individuals to maintain minimum liability insurance coverage for their vehicles?
North Carolina General Statute 20
North Carolina General Statute 30
North Carolina General Statute 40
North Carolina General Statute 50
#5
Which type of insurance policy typically covers medical expenses and lost wages for employees injured on the job?
Auto insurance
Health insurance
Workers' compensation insurance
Homeowners insurance
#6
Which type of insurance policy typically covers damage to a vehicle resulting from collisions with other vehicles or objects?
Life insurance
Health insurance
Auto insurance
Homeowners insurance
#7
Which of the following types of insurance is not required by law in North Carolina?
Auto insurance
Health insurance
Homeowners insurance
Workers' compensation insurance
#8
What is the purpose of the North Carolina Rate Bureau?
To regulate insurance rates
To provide insurance education
To administer insurance claims
To manage insurance fraud investigations
#9
Which entity licenses insurance agents and brokers in North Carolina?
North Carolina Insurance Commission
National Association of Insurance Commissioners
North Carolina Department of Insurance
North Carolina Insurance Agency
#10
What is the purpose of the North Carolina Insurance Guaranty Association?
To regulate insurance fraud
To provide insurance coverage for high-risk individuals
To protect policyholders in the event of insurer insolvency
To administer insurance licensing exams
#11
Which North Carolina law mandates that employers provide workers' compensation insurance coverage for their employees?
North Carolina General Statute 97
North Carolina General Statute 50
North Carolina General Statute 75
North Carolina General Statute 25
#12
What is the purpose of the North Carolina Reinsurance Facility?
To provide insurance for high-risk drivers
To regulate insurance rates
To administer insurance exams
To enforce insurance laws
#13
In North Carolina, what is the grace period for late premium payments before an insurance policy lapses?
7 days
14 days
30 days
60 days
#14
What is 'tort' insurance in the context of North Carolina insurance law?
Insurance coverage for intentional harm
Insurance coverage for economic loss
Insurance coverage for bodily injury or property damage
Insurance coverage for negligence
#15
In North Carolina, what is the penalty for driving without auto insurance?
License suspension
Fine
Jail time
All of the above
#16
Which of the following is NOT a factor that insurers in North Carolina can consider when determining insurance rates?
Age
Gender
Marital status
Race
#17
In North Carolina, what is the maximum penalty for insurance fraud?
Fine
Jail time
Restitution
All of the above
#18
In North Carolina, what is the purpose of the Safe Driver Incentive Plan?
To reward safe drivers with lower insurance rates
To provide insurance coverage for high-risk drivers
To regulate insurance fraud
To administer insurance licensing exams