EXAM 3 32-45

All of the following could be considered rebates if offered to an insurer in the sale of insurance EXCEPT

DIVIDENDS FROM A MUTUAL INSURER

All of the following are true regarding rebates EXCEPT

REBATES ARE ALLOWED IG ITS IN THE BEST INTEREST OF THE CLIENT

If an agent changed his residence address, within how many days must the agent notify the commissioner of the change?

30 DAYS

Which of the following is NOT a responsibility of an insurance agent?

UNDERWRITING THE CONTRACT

An agent is acting ethically in all of the following situations EXCEPT

ALWAYS REPRESENTING THE INSURED

An agent is acting ethically in all the following situation EXCEPT

ALWAYS REPRESENTING THE INSURED

All of the following would be considered rebating EXCEPT

AN AGENT MISREPRESENTS POLICY BENEFITS TO CONVINCE A POLICY OWNER TO REPLACE POLICIES

The requirement that agents not commingle insurance monies with their own funds is known as

FIDUCIARY RESPONSIBILITY

Which of the following best describes a misrepresentation

ISSUING SALES MATERIAL WITH EXAGGERATED STATEMENTS ABOUT POLICY BENEFITS

An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. The agent is guilty of

REBATING

In any case where there is a controversy or dispute between the insurance company and the insured, the soliciting agent is the agent of the

COMPANY

When a producer was reviewing a potential customer's coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. the production be found guilty of

DEFAMATION

Which of the following is an example of a producers fiduciary duty?

THE TRUST THAT A CLIENT PLACES IN THE PRODUCER IN REGARDS TO HANDLING PREMIUMS