General Insurance Regulation Chapter Quiz

A temporary license is normally valid for?

180 days.

If a licensee changes his or her residence address, within how many days must the department be notified?

30 days.

Who is considered a non resident agent?

An agent who resides in another state, but is licensed to write insurance in this state.

A producer Cannot receive a commission from an insurance company without which of the following?

An appointment with the company.

When an agent obtains an insurance license for the primary purpose of writing insurance for himself, his spouse, or his own business, this is called?

Controlled business.

An insurance company that is formed under the laws of another state is known as what type of insurer?

Foreign.

Which of the following types of discrimination would be considered legal?

In benefits on the basis of difference life expectancies.

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

Producer's early retirement.

what is the purpose of requiring licenses for persons who transact insurance?

Protect the general public.

All of the following are unfair claims settlement practices Except?

Railing to adopt and implement reasonable standards for settling claims.

An agent who offers a cash reward to a prospect for buying a policy is guilty of?

Rebating.

The Commissioner of Insurance is responsible for all of the following actions Except?

Setting premiums rates.

An insurer who deliberately makes maliciously critical statements about another insurance company is guilty of an illegal trade practice called?

Defamation.

A producer's license may be suspended or revoked for all of the following reasons Except?

Sharing commissions with another agent.

If the Commissioner issues a cease and desist order, that means the insurer must?

Stop committing a particular violation.