State Laws and regulations

A child was adopted on May 1 of this year. When will her health benefits go into effect? A May 1 of this year B June 1 of this year C January 1 of next year D May 1 of next year

A May 1 of this year

Which of the following is NOT a responsibility of an insurance agent? A Underwriting the contract B Delivering the contract C Explaining policy provisions D Submitting the application to the insurer

A Underwriting the contract

Individual and group accident and sickness policies that cover what kinds of losses must also provide for newborns, from the moment of birth, with all health insurance benefits applicable to children? A Maternity losses B Losses that happen to family members C Specified child-related losses D Health-related losses for the mother

B Losses that happen to family members

Which of the following must an insurer obtain in order to transact insurance within a given state? A Business entity license B Insurer's license C Certificate of authority D Producer's certificate

C Certificate of authority

A claimant wants to bring a recovery action against an insurance company for a loss claimed under a policy. The action must be brought A Within 3 years. B Immediately. C Only within 60 days. D No later than within 2 years.

A Within 3 years.

An insurance agent has received a request for a hearing from the Commissioner. Within how many days must the hearing be held? A 10 days B 15 days C 30 days D 45 days

C 30 days

How long is the Commissioner's term of office? A 2 years B 3 years C 4 years D 6 years

C 4 years

Which types of policies must provide for newborns, from the moment of birth, with all health insurance benefits applicable to children until 31 days? A Individual accident and sickness B Group accident and sickness C Both individual and group accident and sickness D Group life only

C Both individual and group accident and sickness

Medicare supplements specifically exclude all of the following EXCEPT A Outpatient prescription drug plans. B Any Health Care Prepayment Plan providing benefits related to Social Security. C Surgical expenses of persons eligible for Medicare. D Medicare Advantage plans.

C Surgical expenses of persons eligible for Medicare.

Insurers or agents soliciting partnership policies must provide each prospective applicant with all of the following EXCEPT A A Partnership Disclosure Notice. B A statement that the insured does not automatically qualify for Medicaid. C A statement that the insured does not automatically qualify for Medicare Part A. D A Partnership Program Notice.

C A statement that the insured does not automatically qualify for Medicare Part A.

What documentation grants express authority to an agent? A Fiduciary contract B State provisions C Agent's contract with the principal D Agent's insurance license

C Agent's contract with the principal

Agents who persuade insureds to cancel a policy in favor of another one when it might not be in the insured's best interest are guilty of A Misrepresentation. B Rebating. C Twisting. D Defamation.

C Twisting.

Two individuals are in the same risk and age class; yet, they are charged different rates for their insurance policies due to an insignificant factor. What is this called? A Law of large numbers B Misrepresentation C Adverse selection D Discrimination

D Discrimination

Which of the following are the authorities that an agent can hold? A Apparent and allowed B Authorized and admitted C Primary and secondary D Express and implied

D Express and implied

Pertaining to insurance, what is the definition of a fiduciary responsibility? A Helping insureds to file claims B Performing reviews of insured's coverage C Offering additional coverage to clients D Promptly forwarding premiums to the insurance company

D Promptly forwarding premiums to the insurance company