Insurance regulation questions

Which of the following would be considered an illegal inducement to purchase insurance

Confirming future dividends in a life insurance proposal

Which of the following is true regarding examination of financial affairs of insurers

Examination expenses are the responsibility of the insurer.

An insurance company assures its new policyholder is that their premium costs will not increase for a period of at least five years. However, due to increasing financial strain, they plan to raise premium cost for all insurance by 10% over the next two years. What term best describes this act

Fraud

Whom do insurance agent represent

Insurance agent represent the insurer

Which of the following is not true regarding a temporary license in the state

It will continue for 180 days even if the owner disposes the business

Can you name some unfair trade practices that producer should avoid

Misrepresentation, rebating, defamation, unfair discrimination, etc.

The federal fair credit reporting act

Regulates consumer reports

The national do not call registry was created to regulate

Telemarketers

In comparison to consumer reports, which of the following describes a unique characteristic of investigative consumer reports

The consumer's associates, friends, and neighbors provide the report's data

What is the minimum age for obtaining an insurance agent license in the state

18

For how long is the certificate of pre-licensing course completion valid

180 calendar days

The director may examine books and records of all authorized insurance in Ohio. Who is responsible for paying for the examination

The insurer

Within how many days of requesting investigative consumer report must an insurer notify the consumer in writing that the report will be obtained

Three days

Each person license as an agent or solicitor is required to complete continuing education instruction every

Two years

In Ohio, a temporary license may be issued for any of the following reasons except

Agent's retirement.

All of the following would be considered rebating except

An agent misrepresents policy benefits to convince a policyowner to replace policies.

All of the following are required to qualify for a resident license except

An applicant that is at least 21 years old

Who must be licensed as an insurance producer

Anyone who solicits insurance and receives commissions from insurance transactions