Insurance regulation

a. A salaried employee who advertises and solicits insurance

1. Which of the following would be required to be licensed as an insurance producer?

a. Solicit business as an insurance producer

1. A licensed counselor MAY NOT perform which of the following duties?

a. The spouse of a retiring producer

1. A temporary producer license could be issued without examination to all of the following except?

a. Twisting

1. Agents who persuade insureds to cancel a policy in favor of another one when it might not be in the insureds best interest are guilty of?

a. Dividends from a mutual insurer

1. All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT?

a. A license to practice law

1. An applicant for a counselor's license in Michigan must possess all of the following Except?

a. False advertising.

1. An insurance company has published a brochure that inaccurately portrays the adcantages of a particular insurance policy. What is this an example of?

a. 5 dollars

1. How much is an appointment fee?

a. Illegal

1. An insured devises an intimidation strategy in order to corner a large portion of the insurance market. Which of the following best describes this practice?

a. Illegal under any circumstances

1. An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. Which of the following best describes this act?

a. Nonresident

1. An out of state producer wants to start selling insurance in this state. What type of license should the producer obtain?

a. 90

1. If a licensee does not earn 24 hours of continuing education by the license review date, the license will be suspended for how many days?

a. Consists of completing 24 hours of CE each biennium

1. In Michigan the states continuing education requirement?

a. Producer commission schedules

1. The following areas are regulated by the insurance department EXCEPT?

a. 15 days

1. If an insurer wishes to appoint a producer, it must file a notice of appointment within how many days of the date the contract is executed?

a. A producer's retirement

1. In this state a temporary license may be issued for any of the following reasons EXCEPT?

a. Collecting premiums for in force policies and explain coverage to clients that have existing policies written by her father.

1. M, who is not licensed as an insurance agent, works part time in her father's insurance agency. M may perform all of the following duties EXCEPT?

a. Making comparisons between different policies

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

a. False advertising.

1. Circulating deceptive sales material to the public is what type of unfair trade practice?

a. Coercion

1. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as?

a. It allows for up to 15 excess credit hours to be carried forward to the next reporting period.

1. Michigan's continuing education requirement has each of the following characteristics EXCEPT?

a. Misrepresentation

1. On its advertisement a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. The company is guilty of?

a. Inviting prospective clients to the grand opening of the company's new office.

1. State law specifically prohibits using illegal inducements in the marketing of insurance. All of the following would be considered illegal inducements EXCEPT?

a. In the preceding 12 months

1. The commissioner may waive prelicensing requirements or examinations for someone who has been a licensed insurance producer?

a. False financial statement

1. When an insurance agency published an advertising brochure, it emphasized the company's financial stability and sound business practices. In reality its financial health is terrible, and the company will soon have to file for bankruptcy. Which of the following terms best describes the advertisement?

a. Two letters of recommendation.

1. Which is not required of an applicant for an insurance license in Michigan?

a. Business Entity

1. Which of the following could be used when a corporation, association, partnership, or limited liability partnership acts as a producer?

a. 30

1. Within how many days does a licensee have to inform the commissioner of a change of address?

a. Twisting

1. Which type of misrepresentation persuades an insured, to his or her detriment, to cancel, lapse, or switch policies from one to another?

a. 12 months

1. Within what time period after completing pre-licensing education must an applicant file a certificate of education completion with the commissioner?