Chapter 10: kansas rules and regulations common to all lines
if an insurance company is applying for admission to transact bus. in kansas, can the company expect to be examined by the commissioner? **
any business applying for admission to transact bus. in KS can be examined
An insurer that holds a Certificate of Authority in the state in which it transacts business is considered a/an? **
authorized insurer
when doing business in this state, an insurance company that is formed under the laws of another state is know as which type of insurer? **
foreign
An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. Which of the following best describes this act?
illegal under any circumstance
all of the following are true regarding rebates except?**
rebates are allowed if its in the best interest of the client
which of the following manages the kansas life and health insurance guaranty association? **
the board of directors
An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. The agent is guilty of
rebating (rebating is when producers give or promise anything of value that is NOT specified in the policy)
the regulation of the insurance industry primarily rests with? **
the state (each state is responsible for the conduct of insurance within that state)
which of the following persons is required to a hold a producers license? **
a person who negotiates insurance contracts
which of the following is true regarding compensation for the life and health insurance guaranty associations board of directors? **
they may be reimbursed for the incurred expenses
what is the maximum monkery fine for a nonwillful violation of insurance statutes regarding unfair trade practices? **
$1,000
every two years, producers are required to fulfill continuing education requirements. How many of these credit hours must be dedicated to ethics? **
1 credit hour
which of the following determines continuing education biennium due date?
agents year of birth (if born in odd number year they will complete their CE requirements every odd number years vice versa for even numbered years and birthdates) (Biennial due date means the date of birth of any licensed insurance agent who is required to complete CE credit)
which of the following best describes a misrepresentation?**
issuing sales material with exaggerated statements about policy benefits
an agent in another state wants to become an agent in Kansas. The other state gives the same privileges to kansas agents wanting to be licensed in that state as it does it own agents. Kansas therefore extends the privileges of its agents to the prospective agent of the other state. What is this called? **
reciprocity
