insurance regulation

in a circumstance that would warrant license suspension, the commissioner may instead decide to put the license on probation. what is the maximum number of months that the probation could last?

24

If a consumer requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply?

5 days

the federal fair credit reporting act

Regulates consumer reports

which of the following will NOT be considered unfair discrimination by insures

discriminating in benefits and coverages based on the insured's habit and lifestyle

which of the following would be considered an illegal inducement to purchase life insurance?

confirming future divides in a life insurance proposal

which of the following reports will provide the underwriter with the information about an insurance applicant's credit

consumer report

during a sale presentation a producer intentionally makes a statement which may mislead the insurance applicant. This describes

misrepresentation

Under the Fair Credit and Reporting Act, individuals rejected for insurance due to information consumer report

must be informed of the source of the report

which of the following is not correct regarding false statements by a person engaged in the business of insurance?

only written statements can be considered fraud

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

which of the following entities established the do not call registry

the federal trade commission

all of the following are true regarding rebates EXCEPT

rebates are allowed if its the best interest of the client

Any inducement in the sale of insurance that is not specified in the policy is unlawful practice known as

rebating

producer will be deemed to be using their license primarily to write controlled business if ,during any 12 months period

the total premiums on controlled business exceeds the total premiums on all other business written.

what is the maximum penalty for habitual willful noncompliance with the fair credit reporting act?

2,500