Chapter 5
How many continuing education hours must a producer complete on the subject of ethics every licensing period ?
3 hours
If a license changes his or her residence address, within how many days must the director be notified ?
30 days
Which of the following persons is required to hold a producer license on this state ?
A salaried employee who advertises and solicits insurance
If a producers license was revoked for violation of the insurance code, when can the producer apply for a new license
After 3 years
Who is considered a nonresident agent?
An agent who resides in another state, but is licensed to write insurance in this state.
When an agent obtains an insurance license for the primary purpose of writing insurance for himself, his spouse, or his business, this is called ?
Controlled business
Which of the following is an example of a producers fiduciary responsibilities ?
Forwarding premium to the insurer
Which of the following types of discrimination would be considered legal
In benefits on the basis of difference life expectancies
In this state, a temporary license may be issued for any of the following reasons EXCEPT
Producers early retirement
What is the purpose of requiring licenses for persons who transact insurance
Protect the general public
An agent who offers a cash reward to a prospect for buying a policy is guilty of
Rebating
The Director of Insurance is responsible for all of the following actions EXCEPT
Setting premium rates
An agents license may be suspended or revoked for all of the following reasons EXCEPT
Sharing commissions with another agent
If the director issues a cease and desist order, that means the insurer must
Stop committing a particular violation
An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called
defamation