Insurance Regulation

A person applying for a manager or exclusive general agent license must meet all of the following criteria EXCEPT

Be responsible for at least 25% of total commissions collected by the office that he or she manages

According to the Fair Credit Reporting Act, all of the following would be considered negative information about a consumer EXCEPT

Disputes regarding consumer report information

Licensees must make a report of any action taken against them in another jurisdiction or by another governmental agency in Pennsylvania within 30 days of the final disposition of the matter.

30

Change in Adress for producer msut be notified within

30 days

Which of the following statements is incorrect?

A licensee is barred from charging a fee in addition to a commission to a person for the sale, solicitation or negotiation of a contract of insurance for commercial business.

Which of the following is an example of an agent's fiduciary responsibilities?

Forwarding premiums to the insurer

What was created to keep telemarketers from calling consumers who do not wish to be contacted?

National Do Not call Registry

The Federal FAir Credit Reporting Act

Regulates consumer reports

What is the maximum penalty for habitual willful noncompliance with the Fair Credit Reporting Act?

$2500

A producer's license must be renewed

Biennially

Which of the following protects consumers against the circulation of inaccurate or obsolete personal or financial information?

The FAIR Credit Reporting Act

If an insurer changes a form that it uses to transact insurance, it must do which of the following?

File the form with the commissioner for approval

Which of the following authorities is authorized to issue a temporary insurance producer's license

Commissioner

Which of the following entities established the Do-Not-Call Registry?

Federal Trade commission