State laws 3

¡Supera tus tareas y exámenes ahora con Quizwiz!

When a policy is replaced, replacing insurers must maintain a replacement register regarding that policy until the conclusion of the next regular examination by the Insurance Department or for A) 2 years. B) 3 years. C) 5 years. D) 4 years.

3 years.

Insurers must keep files of all advertisements used in Georgia for the minimum of how many years? A) 2 B) 4 C) 5 D) 7

4 years

A paid-up nonforfeiture benefit will become effective as specified in the policy, unless the person entitled elects another available option within how many days after the due date of the premium in default? A) 15 days B) 30 days C) 60 days D) 90 days

60 days

What action is not described as twisting

Explaining to client the advantages of permanent insurance over term and suggesting changing policies

Which of the following best describes a misrepresentation? A) Discriminating among individuals of the same insuring class B) Issuing sales material with exaggerated statements about policy benefits C) Making a deceptive or untrue statement about a person engaged in the insurance business D) Making a maliciously critical statement that is intended to injure another person

Issuing sales material with exaggerated statements about policy benefits

Which of the following best describes a misrepresentation? A) Making a maliciously critical statement that is intended to injure another person B) Discriminating among individuals of the same insuring class C) issuing sales material with exaggerated statements about policy benefits D) Making a deceptive or untrue statement about a person engaged in the insurance business

Issuing sales material with exaggerated statements about policy benefits

What is the maximum period of time a temporary license can be in force? A) 3 months B) 1 year C) 15 months D) 6 months

15 months

For how long are insurers required to maintain records pertaining to life insurance solicitation? A) 2 years B) 3 years C) 4 years D) 5 years

3 years

Which of the following persons is required to hold a producer license?

A person who negotiates insurance contracts

Which of the following persons is required to hold a producer license? A) A person who administers employee benefits B) A person who negotiates insurance contracts C) A person who creates insurance advertisements D) A person who takes messages related to claims

A person who negotiates insurance contracts

Which of the following would NOT be a violation of state insurance regulations? A) Agent A uses her license to write only insurance for herself and her immediate family. B) Agent B charges his clients a consulting fee, in addition to the premium for placing a policy. C) Agent C uses her license to write only business other than controlled. D) Agent D collects premiums due on policies and deposits the funds in his own personal account.

Agent C uses her license to write only business other than controlled.

An insured recently discovered that the interest rate on his policy loan once again increased. Which of the following is the shortest amount of time that could have passed since the last change in the insured's interest rate? A) 1 month B) 3 months C) 6 months D) 12 months

B3 months

Transacting insurance without a license in this state is considered a(n)

Misdemeanor.

On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. The company is guilty of A) Unfair claim practice. B) Rebating. C) Misrepresentation. D) Concealment.

Misrepresentation.

Any references to policy dividends must include a statement of what? A) That the policy is subject to verification B) That the dividends are subject to surcharges C) That the dividends are not guaranteed D) That the dividends are subject to taxation

That the dividends are not guaranteed

Whenever agents submit applications to insurers, they must also submit statements, signed by the applicant and agent, disclosing the involvement or lack of involvement of A) An inducement. B) A change in policy amount. C) Replacement. D) A change of health.

Replacement.

Which of the following may NOT be included in an insurance company's advertisement? A) That its policies are covered by a state Guaranty Association B) The policies' limitations or exclusions C) The name of a specific agent D) An identification of a limited policy as a limited policy

That its policies are covered by a state Guaranty Association

What is inducement?

something of value being offered


Conjuntos de estudio relacionados

vocab unit 6 synonyms and antonyms

View Set

Chapter 07: Application of Ethics in the Community

View Set

Capítulo 3 - Pasajes de la vida (3/4)

View Set