Exam 2

Which of the following protects consumers against the circulation of inaccurate or obsolete, personal or financial information

Fair Credit Reporting Act

The regulation of the insurance industry primarily rests with

state

Under the fair credit reporting act, if a consumer challenges, the accuracy of the information contained in a consumer or investigative report, the reporting agency must

Respond to the consumer's complaint.

In which of the following situations is it legal to limit coverage based on marital status?

It is never legal to limit coverage based on marital status

Any licensed person who violates a cease, and assist order, must forfeit and pay maximum sum of

10,000 per violation

How long does the insurance company have to notify the commissioner of a new producer appointment?

15 days

An applicant is denied insurance because of information found on a consumer report, which of the following requires that the insurance company supply, the applicant with the name and address of the consumer reporting company

Fair Credit Reporting Act

When is an approval by the commissioner not required for the use of policy forms

Only if the forms have been on file for at least 30 days