Thrivent ch 15 questions I got wrong

What is the maximum fine for submitting a false or fraudulent claim to the insurer?

$1,000

Articles of merchandise are allowed as gifts to insurance applicants as long as they do not exceed what maximum amount?

$10

What is the minimum civics fine per violation of the insurance code of this state?

$1000

What is the minimum civil fine for violating a cease and desist order of the commissioner?

$20,000

If an insurance agent has made a misrepresentation of incomplete comparison of policies for the purpose of inducing a potential client to purchase an insurance policy, the agent may be assessed a fine of up to

$2000

How much is an agents appointment fee?

$5

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

12 months

If an insurer wishes to appoint a producer, it must file a notice of appointment within how many days of the date that the contract is executed

15 days

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

Licensees who are currently licensed, and have recently become residents of the state of Michigan may not have to complete any prelicensing education. To qualify for this exemption, they must apply to become resident licensees within a few days of establishing a legal residence within how many days?

90 days

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

A person who negotiates insurance contracts

Producers are permitted to share or split commissions, providing that

Both are properly licensed for the line of insurance.

An insurance producer did not renew her license when it was due, so the license lapsed. Two months prior to that, the producer sold several insurance policies and was still awaiting commissions. Now that the producer is no longer license, which of the following is true regarding the commissions form the sale of insurance policies?

Deferred commissions may be paid to the producer for policies sold while the producer was licensed

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

Dividends from a mutual insurer.

Michigan's continuing education requirement has each of the following characteristics EXCEPT

It allows for up to 15 excess credit hours to be carried forward to the next reporting period

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

Misrepresentation

Temporary Producer License could be issued without examination to all of the following EXCEPT

The spouse of a retiring insurance producer.

Which of the following would be required to be licensed as an insurance producer?

a salaried employee who advertises and solicit insurance

All of the following are penalties for submitting fraudulent claims to the insurer EXCEPT

community service

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

false advertising

An insurer devises an intimidation strategy in order to corner a large portion of the insurance market. Which of the following best describes this practice?

illegal