ch 9 quiz insurance regulation

which of the following would not be considered an insurance producer a.an insurer's officer b.an insurer's broker c.a reinsurance intermediary d.an insurance agent

a.an insurer's officer

which of the following would be required to be liscensed as an insurance producer ? a.a person whose activities are limited to producing insurance advertisements b.a salaried full time employee who furnishes information for group insurance c.an insurance company director who performs executive,administrative,and managerial duties d.a salaried employee who advertises and solicits insurance

d.a salaried employee who advertises and solicits insurance

the superintendent can examine an authrized fraternal benefit society and property/casualty insurance company once every a.18 months b.3 years c.5 years d.12 months

b.3 years

which of the following acts committed by an agent would be sufficient violation to warrant revocation or suspension of the agents liscense a.trespassing through a neighbors yard b.public drunknesss c.forgery d.speeding in an automobile

c.forgery

the superintendent may refuse to issue a license in all of the following situations except if the proposed licensee a.is not trustworthy b.is not competent c.is from another state d.has not completed the prelicensing education

c.is from another state

if an agent fails to promptly remit the premiums collected from the insured to the insurer the agent maybe found guilty of which of the following ? a.fraud b.embezzlement c.controlled business d.rebating

b.embezzlement

within how many days of requesting an investigative consumer report must an insurer notify the consumer in writing that the report will be obtained a.3 days b.5 days c.10 days d.14 days

a.3 days

who is included in the definition of an agent ? a.a producer who owns his own field office b.a salaried employee of the insurer who does not solicit insurance or receive a commission c. an agent who devotes only 25% of his time to the solicitation of insurance contracts and does not receive a commission d.agents of title insurance companies

a.a producer who owns his own field office

which of the following would not be a violation of state insurance regulations ? a.agent b charges his clients a consulting fee in addition to the premium for placing a policy b.agent c uses her liscense to write only business other than controlled c.agent d collects premiums due on polices and deposits the funds in his own personal account d.agent a uses her liscense to write only insurance for herself and her immediate family

b.agent c uses her liscense to write only business other than controlled

which of the following would not considered rebating a.collecting a lower premium than what is specified in a policy as a token of client appreciation b.giving a client a $20 pen with insurers logo during the application process c.sending a gift certificate to the insured's employee after the insurance has been effected as a thank you for the referall d. sharing commission with the insured

b.giving a client a $20 pen with insurers logo during the application process

an insurance agent was born in 1973 he obtained his NY insurance license in 2008 when will the agents license expire a.every 2 years on the license issue date b.on the agents birthday every odd number year c.Jan 1 even number year d.every year on the license issue date

b.on the agents birthday every odd number year

in order to qualify for a certificate of authority every person, firm,association,corporation,or joint stock company must meet all of the following requirements except a.if a stock company the amount of capital and surplus required by law must be paid in cash or investments b.if a mutual company provide statements of at least 3 corporations proof of the required intital surplus in cash or investments and the required number and amount of actual applications for insurance c.the entity must be a part of NY labor union d.the entity must fully comply with all applicable provisions of NY insurance Laws

c.the entity must be a part of NY labor union

an insurer publishes intimidating brochures that portray insurer's competition as financially and professionally unstable Which of the following describes this act a.legal provided the information can be verified b.illegal until endorsed by the guaranty association c. legal provided that the other insurers are paid royalties for the useage of their names d.illegal under any circumstances

d.illegal under any circumstances

an insurance brokers liscense may be issued to a.anyone who can pass the written examination b.persons age 17 or older c.only an individual or a corporation with officers named as sub-liscenses d.a person,firm,or corporation

d.a person,firm,or corporation

the superintendent has the power to perform all of the following except ? a.issue a license to a person under 18 b.examine and investigate any licensed person and insurer c.levy fines for not complying with the requested information within the allotted time d.refuse to issue a license to anyone who is found to be not trustworthy and competent

a.issue a license to a person under 18