State Laws, Rules, and Regulations
LTC and LTC partnership
coverage must be for at least 12 consecutive months
which provision stipulates that misstatements made in a health insurance app may not be used to deny a claim after a policy has been in force for 2 years
time limit on certain defenses
commissioner will give a notice of time and place for a hearing
15 days
maximum period for a temporary license
15 months
maintain records of insurance transactions
5 years
initial license period for a temporary license
6 months
what is the function of a certificate of authority
allows an insurer to transact insurance in georgia
what is considered a violation of life insurance advertising regulations
calling a variable insurance policy an investment plan
total liability to Georgia life and health insurance guaranty association for any 1 life
$300,000
in replacement, an existing insurer must provide policyowners with a policy summary for existing life insurance within how many days of receiving written communication and replacement?
10
how soon from the reinstatement of a health insurance policy would a loss be covered
10 days
Minimum age to apply for a producer license
18 years
CE requirement every 2 years
24 hours
maximum amount of commissions from controlled business
25%
CE requirement for ethics education
3 hours
hearing must be held within
30 days
notify the commissioner of a change in business address within
30 days
order of the hearing must be issued and given to the parties involved within
30 days
to report criminal prosecution against a licensee
30 days
an insurance company is domiciled in Montana and transacts insurance in Wyoming. which term best describes the insurer's classification of Wyoming
foreign
fiduciary responsibility
promptly forwarding premiums to insurance company
Insurance Guaranty Association
protects policyowners, insureds, and beneficiaries against insolvent insurers
required accident and sickness insurance coverages
-mammograms -heart transplants and bone marrow transplants -coverage for newborn children from the moment of birth -coverage for adopted children -child wellness services through age 5
if policyowners repeatedly replace policies from the same agent, this is most likely evidence that
the agent knew that the replacement was intended in connection with the sale and intentionally violated the replacement regulation
commissioner's term of office
4 years
the inflation protection feature in long-term care policies must provide protection for inflation at what percent annually?
5%
required length of state residency per year for a resident producer license
6 months
the duties of an agent where replacement is involved include all of the following except
splitting the commission with the agent who originally sold the policy being replaced
fine for violation of cease and desist order
$10,000
how often must the commissioner of insurance examine health maintenance organizations authorized to do business
every 3 years
which authorities can an agent can hold
express and implied
examine domestic insurers and rating organizations
once ever 5 years