Practice exam 3

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The Commissioner of Insurance issues a Cease and Desist Order to an agent. If the agent wishes to contest the charges in court, how many days after the order was issued does the agent have to make the request?

30 days

Circulating deceptive sales material to the public is what type of Unfair Trade Practice?

False advertising

Which of the following is NOT true regarding a Certificate of Authority?

It is issued to group insurance participants.

Which of the following insurers are owned by stockholders?

Only stock insurance companies are owned and controlled by stockholders.

Which of the following is true regarding Medicare supplement policies?

They must be at least guaranteed renewable.

An individual covered under a group life insurance policy may convert the policy to any of the following EXCEPT

15-year level term.

In all health care plans under the Affordable Care Act (ACA), how many essential benefit categories are there?

There are 10 essential benefit categories under the ACA.

An agent explains the details of a life insurance policy to a client. The agent does not realize, however, that the state has recently rewritten two of the provisions. As a result, the agent inadvertently misrepresents the policy, making it more attractive than it really is. What best describes this situation?

There is no misconduct

Conversion to an individual whole life policy is permitted without evidence of insurability within how many days of the termination of employment?

31. -Terminated employees and their dependents have 31 days to convert to an individual policy issued without evidence of insurability. The new policy can be any type of insurance EXCEPT term. The premium will be based on the current age of the insured.

Upon the submission of a death claim under a life insurance policy, when must the insurer pay the policy benefit?

Within 2 months


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