insurance regulation

WHAT IS THE MAXIMUM FINE FOR VIOLATING A CEASE AND DESIST ORDER

$15,000

ACCORDING TO THE INSURANCE FRAUD PREVENTION ACT, WILL THE PERSON WHO SUSPECTS AS FRAUDULENT TRANSACTION BE PENALIZED FOR REPORTING IT TO THE SUPERINTENDENT

NO,AS LONG AS THE ACT IS REPORTED IN GOOD FAITH

WHICH OF THE FOLLOWING IS NOT A PREREQUISITE FOR AN INSURANCE LICENSE IN NY

be at least 21 years of age

ALL ELSE BEING EQUAL, WHICH OF THE FOLLOWING WILL NOT BE CONSIDERED UNFAIR DISCRIMINATION BE INSURERS,

discrimination benefits benefits and coverages based on the insured habit and life style

THE REQUIREMENT THAT AGENTS MUST ACCOUNT FOR ALL INSURANCE FUNDS COLLECTED, AND WITHOUT THE EXPRESSED CONSENT OF THE INSURANCE COMPANIES, COMPANY ARE NOT PERMITTED TO COMMINGLE THOSE FUNDS

fiduciary

WHICH OF THE FOLLOWING WOULD NOT BE CONSIDERED AN INSURANCE PRODUCER

an insurer's officer

AN INDEPENDENT ADJUSTER MAY INCLUDE WHICH FOLLOWING

a firm who acts on behalf of the insurer

WHO IS INCLUDED IN THE DEFINITION OF AN AGENT'S

a producer who own his own field office

ALL THE FOLLOWING ARE REASONS TO TERMINATE A AGENT'S CERTIFICATION OF APPOINTMENT EXCEPT

an agent becomes disabled and is unable to complete his duties for the duration of the disability

WHEN MUST AGENTS SUBMIT LICENSE RENEWAL APPL.TO THE SUPERINTENDENT

at least 60 days before the license expires.

`ACCORDING TO NY LAW HEARING ORDERED BY THE SUPERINTENDENT MUST BE

open to the public

FOR THE PROTECTION OF PUBLIC INTEREST THE SUPERINTENDENT MAY EXAMINE ANY OF THE FOLLOWING EXCEPT

producer's personal bank account

WHO REPRESENTS THE INSURED IN THE INVESTIGATING A CLAIM

public adjuster

A CERTIFICATE OF APPOINTMENT IS VALID UNTIL ANY OF THE FOLLOWING EXCEPT

the agent becomes a nonresident license in another state