8. Insurance Regulation

All of the following are potential penalties for violating the Insurance Code EXCEPT

C. Requiring ethics education

Which of the following is a continuing education requirement in this state

A. 45 hours every 3 years

All of the following actions by a producer may be grounds for a non renewal or revocation of license EXCEPT

A. Replacing a client's existing life insurance policy with a new policy

If the Commissioner issues a cease and desist order, that means the insurer must

A. Stop committing a particular violation

A temporary license is normally valid for

C. 180 days

An applicant is denied insurance because of information found on a consumer report. Which of the following requires that the insurance company supply the applicant with the name and address of the consumer reporting company

C. Fair Credit Reporting Act

Who is considered a nonresident agent

D. An agent who resides in another state, but is licensed to write insurance in this state

Which of the following is NOT a duty of the Commissioner of Insurance

A. Develop insurance rates

A producer receives a premium from a client, but fails to remit the premium to the insurer after the insurer makes a written demand. Upon conviction, the agent may be found guilty of

B. Larceny

Which of the following entities is responsible for paying the producer's appointment renewal fee

B. Appointing insurer

An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called

B. Defamation

All else being equal, which of the following will NOT be considered unfair discrimination by an insurer

C. Discriminating in benefits based on the insured's habits and lifestyle

A producer's license must be renewed

C. Every 3 years

An agent who offers a cash reward to a prospect for buying a policy is guilty of

C. Rebating

Insurance producers must report their change of business or residence address within

D. 30 days