Lesson 12 NC Statues and Regulations of Accident/Health Insurance

Question 1

Accident, Accidental Injury, Accidental Means

Answer 1

must be defined to imply “result” language and may not include words that establish an accidental means test.

Question 2

Adjuster

Answer 2

individual who for a salary fee or commission investigates or reports to his principal relative to claims arising under insurance contracts.

Question 3

Broker

Answer 3

A person who being a licensed agent procures insurance for a part other than himself through a duly authorized agent of an insurer.

Question 4

FINRA

Answer 4

Financial Industry Regulatory Authority

Question 5

Insurance Producer or Producer

Answer 5

person required to be licensed to sell, solicit, or negotiate insurance.

Question 6

Medicare

Answer 6

Title XVIII of the US SS act as added by the SS amendments of 1965 or as later amended or superseded

Question 7

Reasonable and customary

Answer 7

most frequently used level of charge made for supplies or for a specific service in the geographic subarea in which supplies or services are received.

Question 8

No alteration of any written application may be made by any person other than the applicant without his written consent, except that insertions may be made by the insurer, for administrative purposes only

Answer 8

FACT