Focus Exam Attempt

How many eligible employees must elect coverage before a policy can be placed for a Public Employee Association?

at least 75%

how many eligible employees must elect coverage before a policy can be placed for a public employee association

atleast 75%

When an individual life insurance policy is being replaced by an insurer using an agent, the policyowner must be given an unconditional right to a full refund of premiums if the policy is returned within

20 days

Which of the following is NOT true regarding the accumulation period of an annuity?

It would not occur in a deferred annuity.

If a licensee whose license has been temporarily suspended demands a hearing, the commissioner must hold the hearing demanded as according to all the following statements except

Within 30 days of the license effective date

Which of the following terms describes making false statements about the financial condition of any insurer that are intended to injure any person engaged in the business of insurance?

defamation

All the following are examples of violations of replacement EXCEPT

Advising an applicant to answer questions correctly

Which of the following is NOT a term for the period of time during which the annuitant or the beneficiary receives income?

Depreciation period

The general powers and duties of the Insurance Department include all of the following EXCEPT

Enacting statutes to regulate the insurance industry

Which of the following is NOT considered a misrepresentation as it pertains to unfair trade practices?

Making comparisons between different policies

At least once every 5 years, the Commissioner must fully examine each of the following organizations or persons EXCEPT

National Association of Insurance Commissioners

How often must an authorized insurer be examined?

every 5 years

No insurance policy form can be issued, delivered or used unless it has been

filed with and approved by the commissioner

When twin brothers applied for life insurance from Company A, the company found that while neither of them smoked and both had a very similar lifestyle, one of the twins was in a much stronger financial position than the other. Because of this, the company charged him a higher rate for his insurance. This practice is considered

discrimination

When an annuity is written, whose life expectancy is taken into account?

Annuitant

Which of the following is TRUE regarding a policy issued to a labor union insuring members of the organization for the benefit of persons other than the union or organization?

all of the above are true