Exam FX

If after a hearing, it is determined that an insurer or producer is violating Minnesota insurance laws, The commissioner will issue what?

license suspension

The premiums paid by an employer for his employee's group life insurance are usually considered to be

tax deductible to employer

All of the following would be considered as "limited insurance coverage" EXCEPT

- travel insurance policy

Which of the following statements is NOT true regarding health insurance policy provisions?

All additional provisions written by insurers are cataloged by their respective states

In contrasting stock insurers with mutual insurers, which statement is true?

Mutual insurers are owned by shareholders

What statement best describes agreement as it relates to insurance contracts?

One party must accept the exact terms of the other party's offer

Which of the following kinds of group insurance is designed for groups of people who are exposed to a common hazard?

Blanket Life

Which of the following is a daily nursing and rehabilitative care that can be provided by medical personnel, under the direction of a physcian

Skilled Care

Which of the following provisions is usually found in homeowners policies and provides a replacement cost settlement to policyholders who carry adequate insurance?

Insurance to value

What is the purpose of a disability buy-sell agreement

To allow the business buy out in case of the owners disability