The insurance market place

An exclusive agent

Has a contract with one company

Which of the following is NOT true regarding a certificate of authority

It is issued to group insurance participants

The agent is a legal person who acts on behalf of

The principal

The following is a "person" for legal purposes

1. And incorporated closely held company 2. A business partnership 3. Families living trust

All of the following statements are true regarding policy dividends

1.They are paid to the policyholders 2. they are refunds of unused premiums 3. they are generated by mutual insurance

And insured by filing a notice of appointment on behalf of an applicant, shall be deemed to have declared that the applicant has had experience or instruction and insurance or that the necessary instruction will be given within

30 days after Issuance of license

Which of the following must an insurer obtain in order to transact insurance with a given state

Certificate of authority. All ensures domestic foreign or alien must obtain a certificate of authority before Transacting insurance with in a given state

Which of the following is not a person for legal purposes?

Family

If any individual submit a written request to an insurance company requesting access to his or her own recorded personal information all of the following are true

1. The company will disclose to the individual of all those persons to whom the information had been disclosed 2. The company will permit the individual to see copies of such recorded personal information 3. The company will provide the individual with a summary of the procedures by which the information may be corrected amended or delete it. The insurance company shall within 30 days Pharmacy request ensure all steps are taken to allow access to recorded personal information

If any individual submit written request to an insurance company requesting access to his or her own recorded personal information, all of the following requirements are true except

The company will forward on us three correspondence within 60 business days from the date request is received

Which entity pursues liquidation of an insolvent issuer?

The state government

Which of the following statements regarding policy dividends is true

They are a refund of unearned premium's

All of the following statements are true regarding policy dividends except

They are guaranteed

Intentionally misrepresenting or concealing a material fact to induce an insurance company to make a contract is known as

Fraud

Two individuals are in the same risk and age class yet, they are charge different rates of their insurance policies due to an insignificant factor. What is this called

Discrimination. Permitting individuals of the same class to be charge a different rate for the same insurance is unfair trade practices of discrimination

The following is true of about a certificate of authority

1. It may be necessary for transacting business in a specific state 2. It is equivalent to an insurance license 3. It is issued by the state Department of insurance