Life Quiz Questions

A Certification of License Status must include all of the following information EXCEPT

# of years a licensee has been in the business

Who is a third-party owner?

A policyowner who is not the insured

Presenting any written or oral statement in support of or in opposition to a claim payment, while knowing that the statement contains false or misleading information material to the claim, would be best considered

A violation of the New Jersey Insurance Fraud Prevention Act

SIMPLE Plans require all of the following EXCEPT

At least 1,000 employees.

The type of policy that can be changed from one that does not accumulate cash value to one that does is a

Convertible term policy

Which of the following will NOT be an appropriate use of a deferred annuity?

Creatin an estate

Which of the following types of insurance would be written by a limited lines agent?

Credit insurance

If a retirement plan or annuity is "qualified", this means

It is approved by the IRS

What is the purpose of a conditional receipt?

It is intended to provide coverage on a date prior to the policy issue

Which part of insurance application would contain information regarding the cause of death of the applicant's deceased relatives?

Medical information

Which of the following provide(s) funding for the New Jersey Life and Health Guaranty Association

Member insurers

If a life insurance policy develops cash value faster than a seven-pay whole life contract, it is

Modified endowment contract

Insurance is regulated

Mostly on a state level

any inducement offered to the insured in the sale of an insurance policy that is not specified in the policy is an unlawful practice known as

Rebating

An employee quits his job and converts his group policy to an individual policy; the premium for the individual policy will be based on his

Attained age

If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be

Authorized

Which of the following protects the insured from an unintentional policy lapse due to a nonpayment of premium?

Automatic premium loan

The minimum number of credits required for partially insured status for Social Security disability benefits is

6 credits

Licensees must file with the department a branch office registration form within how many days before business is first conducted there?

30

Licensees must notify the Department within how many days of any change address?

30 days

How is an insurance consultant different from an insurance producer?

A consultant does not sell policies, but only offers advice

A "certification of license status" report can be run on any currently licensed NJ producer, but can only contain information on formal disciplinary actions taken within the past

4 years

The insurer must maintain copies of Notice Regarding Replacement and the comparitive information form, policy summary, and all sales materials until the next reg examination by the Department of Banking and Insurance or for at least

5 years

By how many days does the discontinuance of a group insurance policy reduce the time limit for providing notice of claim or proof of loss?

0 days

Which of the following is the closest term to an authorized insurer?

Admitted

Through which branches of the govt is insurance currently regulated?

All 3 branches

Your customer doesn't mind paying a higher premium as long as he gets a life insurance product that would allow for a faster growth of the cash value. What kind of policy would you recommend?

An endowment policy

Who can make a fully deductible contribution to a traditional IRA?

An individual not covered by an employer-sponsored plan who has earned income

All of the following are examples of third-party ownership of a life insurance policy EXCEPT?

An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan

What is a foreign insurer ?

An insurer with a home office in another state

What is a branch office?

An office where business is regularly conducted or that is advertised as where the public may contact the agency.

All of the following are requirements of eligibility for Social Security disability income benefits EXCEPT

Being age 65

Which of the following statements concerning buy-sell agreements is true?

Buy-sell agreements are normally funded with a life insurance policy

The department can run a report on a specific producer that lists his or her license information, current license status, and the types of insurance that he or she can transact. What is the name of this report?

Ceritification of license status report

Which of the following must an insurer obtain in order to transact insurance within a given state?

Certificate of Authority

If a violation of the new jersey insurance code were to occur, a cease and desist order and/or penalty may be issued. Who may issue a cease and desist order?

Commissioner

In accordance with the Administrative Procedure Act, what entity has the authority to make and enforce rules and regulations to implement and carry out the purposes of the insurance laws of NJ

Commissioner

Which of the following authorities is in charge of investigating claimes held against licensees?

Commissioner

Two individuals are in the same risk and age class; yet, they are charged different rates for their insurance policies due to an insignificant factor, what is this called?

Discrimination

For a retirement plan to be qualified, it must be designed for whose benefit?

Employees

When an employer offers to give an employee a wage increase in the amount of the premium on a new life insurance policy, this is called a(n)

Executive bonus

Misrepresenting an insurance policy as a share of stock is an example of which of the following?

False Advertising

When an insurance agency published and advertising brochure, it emphasized the company's financial stability and sound business practices. in reality, its financial health is terrible, and the company will soon have to file for bankruptcy. Which of the following terms best describes the advertisment?

False financial statement

The requirement that agents must account for all insurance funds collected, and are not permitted to comingle those funds with their own is known as

Fiduciary responsibility

If a beneficiary wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, what settlement option should the beneficiary select?

Fixed period

In a direct rollover, how is the money transferred from one plan to the new one?

From trustee to trustee

If an insured worker has earned 40 quarters of coverage, the worker's status under Social Security disability is...

Fully insured

Life insurance death proceeds are

Generally not taxed as income

What provision in an insurance policy extends coverage beyond the premium due date?

Grace period

An individual is purchasing a permanent life insurance policy with a face value of $25,000. Which of the following should be included in the policy?

Guaranteed insurability option

Life income joint and survivor settlement option guarantees

Income for 2 or more recipients until they die

Who makes up the Medical Information Bureau?

Insurers

During partial withdrawal from a universal life policy, which portion will be taxed?

Interest

All of the following are Nonforfeiture options EXCEPT?

Interest only

When a beneficiary receives payments consisting of both principal and interest portions, which parts are taxable as income?

Interest only

Which of the following best describes a misrepresentation?

Issuing sales material with exaggerated statements about policy benefits

Which of the following is TRUE about the 10-day free-look period in a Life insurance policy?

It begins when the policy is delivered

What is the main purpose of the Seven-pay test

It determines if the insurance policy is an MEC.

When a reduced-paid up nonforfeiture option is chosen, what happens to the face amount of the policy?

It is reduced to the amount of what the cash value would buy as a single premium

A life insurance policy has lapsed, and the policyowner would like to reinstate it. In order to initiate the reinstatement process, he must submit an application to his insurer. Which of the following is true?

It is the policyowner's responsibility to request the reinstatement application; the insurer must then deliver it within 30 days

Which of the following is NOT true regarding a nonqualified retirement plan ?

It needs IRS approval

U.S. Vs. Southeastern Underwriters was decided in 1944. To what extent does the Supreme Court's decision still apply to insurance?

It still stands in full. Insurance is considered to be interstate commerce and is therefore subject to regulation by the federal government

What is the other term for the cash payment settlement option?

Lump sum

On a participating insurance policy issued by a mutual insurance company, dividends paid to policyholders are

Not taxable since the IRS treats them as a return of a portion of the premium paid

A life insurance policy insures against 5 different perils. If the policy owner wants to cancel the coverage of one of those perils, can that be done?

Only if the policy specifies that a separate premium for that peril coverage is separately cancelable

Who might receive dividends from a mutual insurer?

Policyholders

All of the following are characteristics of group life insurance EXCEPT?

Premiums are determined by the age, sex, occupation of each individual certificate holder

In which of the following instances would the premium be tax deductible?

Premiums paid by an employer on a $30,000 group term life insurance plan for employees

Which of the following is NOT required information a producer must provide before soliciting insurance?

Producer contact information

Which of the following is a person or organization that is allowed to write business in NJ for insurance companies that do not possess a certificate of authority in NJ, if no authorized insurers in NJ offer the specific type of insurance in question?

Surplus lines agent

An insurer goes bankrupt and is unable to pay on any of its insured's claims. Which of the following will happen?

The claims will be paid by the state Life and Health Guaranty Association

If an insurer and insured have a dispute about whether a particular loss is covered under a policy, which authority will settle the dispute?

The court system

Which of the following is TRUE regarding the insurance amount in a credit life policy?

The creditor can only insure the debtor for the amount owed

The Paul vs. Virginia case was decided in 1869. To what extent does the Supreme Court's decision still apply to insurance today?

The decision has changed. Insurance is considered to be interstate commerce, and is subject to regulation by the federal government

Which of the following is INCORRECT concerning a noncontributory group plan?

The employees receive individual policies

Who bears all of the investment risk in a fixed annuity?

The insurance company

Who does an insurance agent represent?

The insurer

An employee quits his job on May 15 and doesn't convert his Group Life policy to an individual policy for 2 weeks. He dies in a freak accident on June 1. Which of the following statements best describes what will happen?

The insurer will pay the full death benefit from the group policy to the beneficiary

Which of the following is true regarding license cancellation and reinstatement?

The license needs to be returned to the Insurance Department. It can be reinstated by filling out an application and paying a fee

An organization licensed as a producer business entity based in New York would like to transact insurance in NJ. Which of the following is true?

The organization will need to obtain nonresident business entity license, and its producers will need to obtain onresident licenses

A group of 15 skydivers meet at a seminar and begin talking about life insurance during a break. Because it is expensive to get individual life insurance, they decide to band together to form a small group so that they will be eligible. They apply for small group life insurance and are rejected. Why?

The purpose of the group was to purchase life insurance

Which of the following employees insured under a group life plan would be allowed to convert to individual insurance of the same coverage once the plan is terminated?

Those who have been insured under the plan for at least 5 years

What is the purpose of a fixed-period settlement option?

To provide a guaranteed income for a certain amount of time

The rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called

Waiver of premium

Which of the following statements regarding the taxation of Modified Endowmenet Contracts is FALSE?

Withdrawals are not taxable

Which of the following best details the underwriting process for life insurance?

Selection, classification, and rating of risks

Upon policy delivery, the producer may be required to obtain any of the following EXCEPT

Signed waiver of premium

Which of the following is a risk classification used by underwriters for life insurance

Standard

Which of the following is called the "second-to-die" policy?

Surviorship Life

Which of the following is NOT true regarding the annuitant?

The annuitant cannot be the same person as the annuity owner

Term policies are available as Level, Increasing, Decreasing. Which policy component fluctuates depending on the policy type?

Death benefit

Which of the following is NOT typically excluded from life policies?

Death due to plane crash for a fare-paying passenger

A producer agent must do all of the following when delivering a new policy to the insured EXCEPT

Disclose commissions earned from the sale of the policy

All of the following statements concerning dividedends are true EXCEPT

Dividend amounts are guaranteed in the policy

A universal life insurance policy has two types of interest rates that are called

Guaranteed and Current

When would a misrepresentation on an insurance application be considered fraud?

If it is intentional and material

Which of the following statements is TRUE concerning the Accidental Death Rider?

It will pay double or triple the face amount

Which of the following is an example of limited-pay life policy?

Life paid-up at age 65

Which Universal Life option has a gradually increasing cash value and a level death benefit?

Option A

A rider attached to a life insurance policy that provides coverage on the insured's family members is called the

Other-insured rider

Which of the following is another term for the accumulation period of an annuity?

Pay-in period

An insured pays $1,200 annually for her life insurance premium. The insured applies this year's $300 worth of accumulated dividends to the next year's premium, thus reducing it to $900. What option does this describe?

Reduction of Premium

The policyowner pays for her life insurance annually. Until now, she has collected a nontaxable dividend check each year. She has decided that she would rather use the dividends to help pay for her next premium. What option would allow her to do this?

Reduction of premium

All of the following are the types of term insurance depending on how the face amount changes during policy term EXCEPT

Renewable

A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. He discovered that his policy

Required a premium increase each renewal

Which beneficiary is changeable at any point?

Revocable

What kind of policy allows withdrawals or partial surrenders?

Universal Life

Which of the following types of policies allows the policyowner to skip premium payments, provided that there is enough cash value in the policy to cover the premium amount?

Universal Life

Which type of life insurance policy allows the policyowner to pay more or less than the planned premium?

Universal Life

Which of the following products requires a securities license?

Variable annuity

Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract?

Warranty

When may an insurance company use suicide as a defense against paying a death claim?

When death occurs within a specified period of time after the policy was issued

Which of the following documents delievered to the policyowner includes information about premium amounts, cash values, surrender values and death benefits for specific policy years?

A policy summary

Which of the following is a generic consumer publication that explains life insurance in general terms in order to assist the applicant in the decision-making process

Buyer's guide

If an applicant for a life insurance policy is found to be a substandard risk, the insurance company is most likely to

Charge a higher premium

Which of the following is incorrect regarding a $100,000 20-year level term policy?

At the end of 20 years, the policy's cash value will equal $100,000

Under the Fair Credit Reporting Act, if the consumer challenges the accuracy of the information contained in his or her report, the reporting agency must

Respond to the consumer's complaint

The president of a company is starting an annuity and decides that his corporation will be the annuitant. Which of the following statements is true?

The annuitant must be a natural person

If a life insurance policy has an irrevocable beneficiary designation,

The beneficiary can only be changed with written permission of the beneficiary

A 40-year old man buys a whole life policy and names his wife as his only beneficiary. his wife dies ten years later. he never remarries and dies at age 61, leaving two grown up children. Assuming he never changed the beneficiary, the policy proceeds will go to

The insured's estate

A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums?

The insured's premiums will be waived until she is 21

All of the following are true of annuity owner EXCEPT

The owner must be the party to receive benefits

The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as

The policy contains sufficient cash value to cover the cost of insurance`

If an insurer issued a policy based on the application that had unanswered questions, which of the following will be TRUE?

The policy will be interpreted as if the insurer waived its rights to have an answer on the application

If the policyowner, the insured, and the beneficiary under a life insurance policy are three different people, who has the ownership rights?

The policyowner

The responsiblity of making certain that an application for insurance is filled out completely, correctly, and to the best of his or her knowledge is the responsiblity of whom?

The producer

All of the following are true regarding the guaranteed insurability rider EXCEPT

The rider is available to all insureds with no additional premium

Which is true about a spouse term rider?

The rider is usually level term insurance

All of the following are requirements for life insurance illustrations EXCEPT

They must be part of the contract

In a surviorship life policy, when does the insurer pay the death benefit ?

Upon last death

When is the earliest a policy may go into effect?

When the application is signed and a check is given to the agent

An applicant who receives a preferred risk classification qualifies for

Lower premiums than a person who receives a standard risk

Which of the following information about the applicant is NOT included in the General Information section of the application for insurance?

Medical Background

Under the Fair Credit Reporting Act, individuals rejected for insurance due to information contained in a consumer report

Must be informed of the source of the report

If an insured withdraws a portion of the face amount in the form of accelerated benefits because of a terminal illness, how will that affect the payable death benefit from the policy?

The death benefit will be smaller

An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. What happens at the end of the 10-year term?

The insurer may renew the policy for another 10 years, but at a higher premium rate

An insured purchased a 15-year term life insurance policy with a face amount of $100,000. The policy contained an accidental death rider, offering double indemnity benefit. The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries. What amount would his beneficiary receive as a settlement?

$200,000

According to the telemarketing sales rules, what are the permissible calling hours for telemarketing calls?

8am until 9pm

A Straight Life policy has what type of premium?

A level annual premium for the life of the insured

An insured stated on her application for life insurance that she had never had a heart attack, when in fact she had a series of minor heart attacks last year for which she sought medical attention. Which of the following will explain the reason a death benefit claim is denied?

A material misrepresentation

Which of the following best describes fixed-period settlement option?

Both the principal and interest will be liquidated over a selected period of time

All of the following are TRUE statements regarding the accumulation at interest option EXCEPT

The interest is not taxable since it remains inside the insurance policy

Under an extended term nonforfeiture option, the policy cash value is converted to

The same face amount as in the whole life policy

An agent and an applicant for a life insurance policy fill out and sign the application. However, the applicant does not wish to give the agent the initial premium, and no conditional receipt is issued. When will coverage begin?

When the agent delivers the policy, collects the inital premium, and the applicant completes an acceptable Statement of Good Health

Under the Fair Credit Reporting Act, If the consumer challenges the accuracy of the information contained in his or her report, the reporting agency must

Respond to the consumer's complaint

What is the benefit of choosing extended term as a nonforfeiture option?

It has the highest amount of insurance protection

Which best describes the MIB?

It is a nonprofit organization that maintains underwriting information on applicants for life and health insurance

All of the following are duties and responsiblities of producers at the time of the application EXCEPT

Change any incorrect statement on the application by personally initialing next to the corrected statement

A business owner was trying to obtain a bank loan to fund the purchase of a new business facility, but the bank required proof of additional assests to secure the loan. The business owner then decided to use her $250,000 life insurance policy to secure the loan. Which provision makes this possible?

Collateral Assignment

An insured pays an annual premium to his insurer. In return, the insurer promises to pay benefits in accordance with the terms of the contract. This is called

Consideration

What happens when a policy is surrendered for its cash value?

Coverage ends and the policy cannot be reinstated

Which of the following is NOT a term for the period of time during which the annuitant or the beneficiary receives income?

Depreciation period

The provision which states that both the policy and a copy of the application form the contract between the policyowner and the insurer is called the

Entire contract

Which policy component decreases in decreasing term insurance?

Face amount

j applied for a life insurance policy on January 10. the policy was issued January 31. j's agent was vacationing at the time the policy was issued, so j did not receive the policy until February 18. j decides that he does not want the policy. when would j need to return to the insurer in order to receive a full refund of premium paid?

February 28th, or 10 days after the time the policy is delivered

Bothe universal life and variable universal life have a

Flexible premium

Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid

For 20 years or until death

The death benefit under the Universal Life Option B

Gradually increases each year by the amount that the cash value increases

A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. In which of the following scenarios will the rider waive the payment of premium?

If the father is disabled for more than 6 months

What type of insurance would be used for a Return of Premium rider?

Increasing term

An applicant signs an application for a $25,000 life insurance policy, pays the initial premium, and receives a conditional receipt. If the applicant dies the next day, which of the following is TRUE?

The beneficiary will receive the full death benefit if it is determined that the applicant qualified for the policy

A producer received a group master policy and certificates for delivery to the insured. Within how many days must the policy and certificates be delivered?

10 calendar days

The Commissioner believes that a licensee has violated an insurance regulation and decides to conduct a hearing. How long of a notice must the Commissioner provide the licensee?

10 days

A couple owns a life insuranc policy with a Children's Term rider. Their daughter is reaching the maximum age dependent coverage, so she will have to convert to permanent insurance in the near future. Which of the following will she need to provide for proof of insurability?

Proof of insurability is not required

An employee quits her job where she has a balance of $10,000 in her qualified plan. The balance was paid out directly to the employee in order for her to move the funds to a new account. If she decides to rollover her plan to a Traditional IRA, how much will she receive from the plan administrator and how long does she have to complete the tax-free rollover?

10,000 no tax consequence

What is the advantage of reinstating a policy instead of applying for a new one?

The original age is used for premium determination

What percentage of a company's employees must take part in a noncontributory group life plan?

100%

Producer licenses renewal period

2 years

Group life insurance is a single policy written to provide coverage to members of a group. Which of the following statements concerning group life is CORRECT?

100% participation of members is required in noncontributory plans

Which of the following is NOT true regarding Equity Indexed Annuities?

They earn lower interest rates than a fixed annuities

Which of the following settlement options in life insurance is known as straight life?

Life income

If a settlement option is not chosen by the policy owner or the beneficiary, what option will be used?

Lump sum

How many days does a producer have to remit the collected premiums to the insurer?

5 business days

In cases where a producer's license has been revoked, the producer must wait for how long before applying for reinstatement?

5 years

Group life insurane is a single policy written to provide coverage to members of a group. Which of the following statements concerning group life is CORRECT?

100% participation of members is required in noncontributory plans

If an applicant's license has lapsed within the past year, the applicant may apply for late renewal of the license within the maximum of how many months of expiration?

12 months

If an insurer cancels an angency contract, it must notify the Commissoner in writing within how many days?

15

An insurer is closing a branch office in this state. Within how many days of the office closing must the insurer notify the Department?

30 days

A licensed insurance producer must notify the Department of a change of mailing address within how many days and by what method

30 days, by mail or electronically

Partners in a business enter into a buy-sell agreement to purchase life insurance, which states that should one of them die prematurely, the other would be financially able to buy the interest of the deceased partner. What type of insurance policy may be used to fund this agreement?

Any form of life insurance

An insurer cancelled a contract with a producer on April 1st. By what date must the insurer notify the Commissioner of this action?

April 15th

The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy coverage become effective?

As of the application date

All of the following statements are correct regarding credit life insurance EXCEPT

Benefits are paid to the borrower's beneficiary

Which of the following is an eligibility requirement for all social security disability income benefits?

Have attained fully insured status

A licensed insurance producer may request a waiver of license renewal procedures under any of the following circumstances EXCEPT

His renewal forms were lost in the mail

Fred is the owner of a whole life insurance policy. Some of the details involving benefit payments are not expressed in the policy, but the insurer proposed an arrangement 10 years ago. Fred has still not agreed formally to the terms of the proposal. When the policy matures, what will the insurer do?

Hold Fred's money in its general fund until it can come to a formal agreement with Fred

An insured purchased a life insurance policy on his life naming his wife as primary beneficiary, and his daughter as contingent beneficiary. Under what circumstances could the daughter collect the death benefit?

If the primary beneficiary predeceases the insured

When Y applied for insurance and paid the initial premium on August 14, he was issued a conditional receipt. During the underwriting process, the insurance company found no reason to reject the risk or classify it other than as standard. Y was killed in an automobile accident on August 22, before the policy was issued. In this case, the insurance company will

Issue the policy anyway and pay the face value to the beneficiary

What would be an advantage to naming a contingent (or secondary) beneficiary in a life insurance policy?

It determines who receives policy benefits if the primary beneficiary is deceased

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

It is issued to group insurance participants

Which of the following is TRUE of a children's rider added to an insured's permanent life insurance policy?

It is term coverage that is convertible to permanent insurance at or prior to the child reaching the maximum coverage age

Which of the following statements is TRUE about a policy assignment?

It transfers rights of ownership from the owner to another person

What significance did Paul vs. Virginia have on the insurance industry?

It was decided that insurance was NOT interstate commerce and could NOT be regulated by the federal government

The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called

Joint and survivor

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy?

Mutual

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

National Do Not Call Registry

A nonresident liscensed producer decides to conduct business under an assumed name. which of the following is TRUE

Nonresident producers may not conduct business under any name besides legal names

Death benefits payable to a beneficiary under a life insurance policy are generally

Not subject to income taxation by the Federal Government

An insured has a life insurance policy from a participating company and receives quarterly dividends. He has instructed the company apply the policy dividends to increase the death benefit. The dividend option that the insured has chosen is called

Paid-up additions

Which option is being utilized when the insurer accumulates dividends at interest and then uses the accumulated dividends, plus interest, and the policy cash value to pay the policy up early?

Paid-up option

A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will

Pay the policy proceeds only if it would have issued the policy

Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or become disabled?

Payor benefit

When a whole life policy lapses or is surrendered prior to maturity, the cash value can be used to

Purchase a single premimum policy for a reduced face amount

All of the following are true regarding rebates EXCEPT

Rebates are allowed if it's in the best interest of the client

An agent offers a client free tickets to a sporting event in exchange for the purchase of an insurance policy. What is the agent guilty of?

Rebating

In a case where a primary beneficiary predeceases the insured, in the event of the insured's death, the death benefit proceeds will be paid to

The contingent beneficiary

In comparison to consumer reports, which of the following describes a unique characteristic of investigative consumer reports?

The customer's associates, friends, neighbors provide the report's data

When would a 20-pay whole life policy endow?

When the insured reaches age 100

If an insurance company makes a statement that its policies are guaranteed by the existence of the Insurance Guaranty Association, that would be considered

an unfair trade practice

When an insurance producer negotiates for an insurance contract on behalf of a client, the producer is acting as a(n)

broker

Which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting?

stock