Primerica (The insurance Market place)

The Commissioner has the authority to issue a cease and desist order against any person acting as an insurance agent or broker without being licensed. The Commissioner may also impose a penalty for each day the order is violated in what amount?

$5,000

All records relating to insurance application and delivery must be maintained by the insurer for a period of

5 years after policy delivery or initial application if no policy was issued.

All of the following would be considered insolvent insurers EXCEPT

A company that reinsurers outstanding risks.

Which of the following persons would not lose all of their coverage due to a discontinuance of their employer's group medical policy?

A disabled employee or dependent

When doing business in this state, an insurance company that is formed under the laws of another state is known as which type of insurer?

Foreign

An insurer received a claim on May 1st. On May 31th, the claim was approved in its entirety. By what date can the claimant expect the payment?

June 30th

Which of the following terms means a result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors?

Life expectancy

An independent agent may have contracts with which of the following?

More than one insurer

The Claims Department would be responsible for investigating which of the following?

Possible fraudulent claims by an insured

Which of the following entities NOT be an insurer?

The Commissioner

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

Twisting

An insurance agent who diverts premiums held in a trust capacity for his or her own use?

Will be considered guilty of theft and be punished to the extent of the law.