SYE Life Law final
!!!!!! a producer's license has been nonrenewed. how long does the producer have to request a hearing
10 days
To transact business in the state, an insurer must be a) Admitted. b) Captive. c) Domestic. d) Certified.
A
If an insurer receives the Commissioner's inquiry regarding a claim, within how many days must the insurer provide a complete written response? a) 3 days b) 10 days c) 15 days d) 30 days
C
Replacement regulations would apply to which of the following policies? AGroup life insurance issued in connection with a pension BNonconvertible term life insurance policy expiring in 3 years CWhole life policy DIndividual credit life
C
Which clause permits an insurer to discharge its obligations after the death of an insured by paying the death benefits to the person stipulated by the clause? ADeath benefit BDischarge of benefits CFacility-of-payment DDeferred compensation
C
Which of the following is NOT true regarding the premium payment requirements for a trustee group? a) If paid by trustees only, 100% of eligible persons must be insured. b) It may be paid by trustees in full. c) It may be paid by the insured persons in full if at least 75% of eligible persons are insured. d) Premium contributions may be made by both, trustees and insured persons.
C
A life insurer must notify the policyowner at the time a cash loan made of the initial rate of interest on premium loans within how many days after making the loan? !!! A60 days B10 days C30 days D45 days
D
A life insurer must notify the policyowner at the time a cash loan made of the initial rate of interest on premium loans within how many days after making the loan?!! a) 60 days b) 10 days c) 30 days d) 45 days
D
An insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy. What is this an example of? a) Unfair claims b) Twisting c) Defamation d) False advertising
D
An insurer has how many calendar days to pay a claim in full? a) 120 b) 30 c) 45 d) 90
D
How long before their intended use must all policy forms be filed for approval? !!!! A 10 days B 15 days C 30 days D 60 days
D
A person who refuses to submit to an investigation by the commissioner can expect
to have their license revoked
After the Commissioner receives a written demand for a hearing from by a person aggrieved, a hearing must be held within a) 45 days. b) 60 days. c) 2 weeks. d) 1 month.
A
If a group policy issued 5 years ago terminates, people insured at the date of termination will be entitled to have an individual policy issued if they have been insured under the plan for at least A2 years. B5 years. C4 years. D3 years.
D
If an administrative action is taken against a producer, he or she must report this action to the Commissioner within how many days of the final disposition? A 2 months B 45 days C 6 months D 30 days
D
What is the minimum number of members a labor union must have on the date of the policy issue? a) 100 b) 10 initially and with 10 new entrants per year c) At least 5 from each employer d) 25
D
Which of the following would NOT be considered a misrepresentation on the part of the insurer? a) Implying that term insurance has cash value b) Embellishing the benefits provided in the policy c) Overstating returns on policy dividends d) Backdating policies to secure a lower premium for the insured
D