Insurance Regulation

Which of the following is NOT considered a misrepresentation as it pertains to unfair trade practices ?

Making comparisons between different policies

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.

The following areas are regulated by the insurance department except

Producer commission schedules

A licensed counselor may not preform which of the following duties

Solicit business as an insurance producer

Which of the following could be used when a corporation, association, partnership , or LLC acts as a producer ?

Business Entity

All of the following are considered unfair trade practices in the business of insurance except

Sharing commissions

How much is an agents appointment fee?

$5

In this state, a temporary license may be issued for any of the following reasons EXCEPT

A producers retirement

All of the following could be considered rebates if offered to an insured in the sale of insurance except

Dividends from a mutual insurer.

Circulating deceptive sales material to the public is what type of Unfair Trade Practice?

false advertising

All of the following are true regarding rebates except

Rebates are allowed if it's in the best interest of the client.

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 Suspension - for not earning 24

All of the following events will terminate a producers certificate of appointment except

A new commissioner of director is put into office

A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. This is an example of

coercion

Within what time period after completing prelicensing education must an applicant file a certificate of education completion with the commissioner?

12 months