Insurance Regulation

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

What is the maximum fine for submitting a false or fraudulent claim to the insurer?

$1,000

If a producer allows his or her license to lapse, the license may be reinstated without retaking an examination within the maximum period of

12 months

Within what time period after completing prelicensing education must an applicant file a certificate of education completion with the Commisioner?

12 months

How many continuing education hours must a producer complete on the subject of ethics every licensing period?

3 hours

If a licensee changes his or her address, within how many days must the Department be notified?

30 days

A producer CANNOT receive a commission from an insurance company without which of the following?

an appointment with the company

Who is considered a nonresident agent?

an agent who resides in another state, but is licensed to write insurance in this state

All of the following are penalties for submitting a fraudulent claim to the insurer EXCEPT

community service

Which of the following is an example of a producer's fiduciary responsibilities?

forwarding premiums to the insurer

Which of the following would NOT be considered rebating?

gifting an applicant a $5 pen with the insurer's logo during insurance solicitation

Which of the following types of discrimination would be considered legal?

in benefits on the basis of difference life expectancies

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

stop committing a particular violation

What is the purpose of requiring licenses for persons who transact insurance?

protect the general public

Which practice persuades an insured, to his or her detriment, to cancel, lapse, or switch policies from one insurer to another?

twisting

A producer's license may be suspended or revoked for all of the following reasons EXCEPT

sharing commissions with another agent


Ensembles d'études connexes

NT1110 Computer Structure and Logic Chpt 2 Quiz

View Set

PrepU: HHA- Ch.19 Thorax & Lungs

View Set

3.3.05/06 Pathophysiology of Interstitial Lung Disease 1 & 2

View Set

Anatomy & Physiology Ch. 2 Questions

View Set