Iowa Casualty- STATE Portion
Material designed to create public interest in insurance or an insurer is defined in the iowa insurance code as
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An insurance company that is organized or chartered in a country other than the US is defined as
Alien
Which of following persons would be covered by Workers Comp insurance?
All family members?
Which of following statements is CORRECT about insurance producer license application procedures?
Applicants must be at least 18 years of age
All of the following are considered to be eligible surplus lines carriers EXCEPT?
Reinsurance carriers
An iowa citizen who operates a motor vehicle on a public thoroughfare is legally required to provide proof of
financial responsibility
A person who knowingly submits an insurance application containing false information about a material fact to defraud an insurer has:
class D felony
Automobile liability includes which of following coverages?
Bodily injury and personal property
Primary responsibility for renewing an insurance producers license belongs to the:
Insurance division
A driver with a bad driving record may obtain automobile insurance through which of the following organizations?
Iowa Automobile Insurance Plan
In order for an admitted insurance company to transact business in Iowa, which of the following MUST be true?
It must hold a certificate of authority issued by the Iowa Insurance Division
Which of following MUST provide consent to an insurance policy to be delivered electronically?
Named insured
Offering anything of monetary value as an inducement to purchase insurance is called
Rebating
An insurance company is permitted to determine an insureds automobile insurance premiums on the basis of
geographic location
An insurance company may deny an employees claim for workers comp benefits if the employee was
injured while intoxicated in the workplace
The insurance commissioner may revoke or suspend an insurance producers license if the producer:
intentionally misrepresents the terms of the insurance contract
To reject Underinsured/Uninsured motorists coverage on an automobile liability insurance policy, a named insured MUST
reject the coverage in writing
Insurance coverage is eligible for surplus lines placement if which of the following situations is correct?
the insured authorizes placement of coverage in the surplus lines market
Under the workers comp law, an employee must be disabled for how many days before becoming eligible to receive compensation?
3
Which of following activities requires an insurance producers license?
counseling an applicant on an insurance product
The workers comp act defines "total disability" as the inability of an employee to:
earn any wages in any employment
Which of the following is a valid reason for an insurer to midterm cancel an Iowa Auto Policy?
material misrepresentation on the application
In addition to injury, what other coverage is provided under a workers comp policy?
occupational disease???
A licensed insurance producer must notify the insurance commissioner of any change in the producers residential or business address within how many days
30 days
An insurance company that chooses not to renew a private passenger automobile policy must mail a notice of nonrenewal to the policyholder at least how many days?
30 days
iowa producers are required to complete a minimum of how many continuing education course hours during each licensure period
36
An insurance company may cancel a newly written policy for any reason during the discovery period of how many days?
60
A producer may sell, solicit, or negotiate insurance on behalf of an insurer immediately after:
???
Which of the following statements is CORRECT about a producer who tells an insured that claim payments are guaranteed by the US government
???
Failure of an insurer to acknowledge and aid reasonably and promptly upon receipt of a claim from an insured constitutes
Unfair claims settlement practice
The use of credit info to deny, cancel or refuse to renew a policy of personal insurance is considered:
an adverse action
An agreement reached between two or more insurance producers to not write insurance policies for a certain company is an example of
boycott
If, after a hearing, the insurance comissioner finds that person has engaged in an unfair method of competition, the commissioner may issue a:
cease and desist order
A producer works for an insurance agency that is affiliated with a lending instutition. If the producer requires an insurance product be purchased from the agency as is condition of a loan. The producer may be found guilty of:
coercion? or rebating?
The purpose of the Iowa Insurance Guaranty Association is to
protects insureds from insurance company insolvency
