Chapter 15 Exam - State Law
A limited lines producer is authorized to sell all of the following, except:
Accident and health
Which of the following is NOT among the powers and duties of the Commissioner?
Act to protect the best interests of authorized insurers
Who among the following would be exempt from a written examination?
An applicant for a resident producer license who was previously licensed for the same line in this state within the past 90 days
Which of the following would NOT be an eligible group for group life insurance?
An association of public employees
Permitting individuals of the same class and equal life expectancy to be charged different rates for life insurance or annuities is an example of what type of unfair trade practice?
Discrimination
With regard to licensee responsibilities, which of the following statements is NOT correct?
Every licensed individual must have and maintain a place of business accessible to the public, excluding the licensee's residence
Which of the following types of policies are exempt from the state replacement regulations?
Group Credit Life
A converted policy is not required if the insured is or could be covered by any of the following, except:
His/her own bank account
Which type of life insurance is written with a face amount of $3,000 or less?
Industrial Life Insurance
Upon which of the following would a health benefit plan be permitted to base individual eligibility?
Insurable interest
With regard to financial examinations by the Commissioner, the Commissioner:
Must conduct a financial examination of an insurer at least once every 5 years
All of the following are examples of boycott, coercion, or intimidation, except:
Offering a premium discount or credit that is not specified in the policy
Which of the following statements is NOT correct concerning policy loans?
Policy loans must available after the policy has been in effect for 6 months
Which of the following statements is false concerning adjusters?
Public adjusters may not qualify for a license in Property and Casualty
Which of the following statements is false with respect to requirements for rates?
Rates may be based on geographic area
Insurers are liable for any loss resulting from the insured's being under the influence of any narcotic if:
Such narcotic is administered on the advice of a physician
Which of the following statements is false with respect to hearings?
The Commissioner may hold a hearing for any purpose within or out of the scope of the Code
Which of the following is NOT a reporting requirement?
The number of policy cancellations by policyholder
Which of the following statements is correct with respect to the Doctrine of Economic Benefit?
This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan
Which of the following situations does not require the delivery of the Shopper's Guide?
Upon application for a life insurance policy containing accelerated LTC benefits
An applicant for a producer license must provide evidence of legal liability coverage for an amount of least:
$20,000
A life policy may not be backdated more than:
1 year
The duration of the free look period for individual life insurance policies is:
10 days
Insurers must acknowledge the receipt of a notice of a claim within:
15 working days of the date of receipt
The duration of the grace period for life insurance policies is:
30 days
With respect to dependent handicapped children, which of the following is incorrect?
A handicapped dependent child may be covered under a parent's policy up to age 30
Which of the following statements is false?
A long-term care policy must be optionally renewable
A surplus lines producer sells insurance for:
A non-admitted insurer
Which of the following correctly describes an Apprentice Adjuster's license?
A temporary license for up to 12 months without having to pass an examination
Which of the following is correct regarding a temporary license?
A temporary license may be issued to the surviving spouse of a disabled or deceased producer