State RegulationsNC specificDifficulty 1/5
A North Carolina producer's first insurance application is submitted through a new insurer relationship. Under G.S. 58-33-40(b), the insurer must file the notice of appointment within:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under G.S. 58-33-40(b), the insurer must file the notice of appointment within 15 days after the date the first insurance application is submitted by or through the producer. 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 under G.S. 58-33-40(e),(f).
Why the other options are wrong
- A) 10 days is the standard free-look period for individual life and annuity policies under 11 NCAC 12 .0447, not an appointment deadline.
- C) 30 days is the deadline for notifying the Commissioner after terminating a producer under G.S. 58-33-56.
- D) 45 days is the outer bound of the notice-before-forfeiture mailing range under G.S. 58-58-120, unrelated to appointments.
Memory hook
First application in, appointment filed in 15 days.