State RegulationsNC specificDifficulty 1/5
A producer submits her first insurance application under a new insurer appointment. Within what period must the insurer file the notice of appointment?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under G.S. 58-33-40(b), the insurer must file the notice of appointment within 15 days after the date the producer submits the first insurance application. The appointment then continues as long as both the producer and the insurer remain licensed, and renewal appointment fees are remitted before April 1 each year.
Why the other options are wrong
- A) Forty-five days is the outside limit in the notice-before-forfeiture mailing rule, not the appointment filing deadline.
- B) Thirty days is the deadline for notifying the Commissioner of a producer termination under G.S. 58-33-56, not for filing an appointment.
- C) Ten days is the standard free-look period for individual life and annuity policies, unrelated to appointment filings.
Memory hook
First application filed? The insurer has fifteen days to appoint you.