Casualty Insurance regulation
It would be considered unfair discrimination to ask an insurance applicant about which of the following and then use that information as a rating factor to determine insurability?
sexual orientation
If a licensee does not earn 24 hours of Continuing Education by the license review date, the license will be suspended for up to how many days?
90 days
All of the following events will terminate a producer's certificate of appointment EXCEPT
a new Commissioner or Director is put into office
Which of the following would be required to be licensed as an insurance producer?
a salaried employee who advertises and solicits insurance
The commissioner may waive pre-licensing requirements or examinations for someone who has been licensed insurance producer
in the preceding 12 months
State law specifically prohibits using illegal inducements in the marketing of insurance. All of the following would be considered illegal inducements EXCEPT
inviting prospective clients to the grand opening of the company's new office
Which of the following, upon conviction, carries a fine of up to $2,000 for each violation?
misrepresenting the terms of a policy
Which of the following individuals could qualify for a temporary insurance license?
the designee of a producer that is called to active service with the Navy
If an insurer wishes to appoint a producer, it must file a notice of appointment within how many days of the date that the contract is executed?
15 days
An insurance producer did not renew her license when it was due, so the license lapsed. Two months prior to that, the producer sold several insurance policies and was still awaiting commissions. Now that the producer is no longer licensed, which of the following is true regarding the commissions from the sale of insurance policies?
Deferred commissions may be paid to the producer for policies sold while the producer was licensed
Which of the following best describes a misrepresentation?
issuing sales material with exaggerated statements about policy benefits
Producers are permitted to share or split commissions, providing that
both are properly licensed for the line of insurance
A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only id the customer purchases an insurance policy from the bank in the amount of the loan. This is an example of
coercion
When a producer was reviewing a potential customer's coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. The producer could be found guilty of
defamation
