Chapter 5

How many continuing education hours must a producer complete on the subject of ethics every licensing period ?

3 hours

If a license changes his or her residence address, within how many days must the director be notified ?

30 days

Which of the following persons is required to hold a producer license on this state ?

A salaried employee who advertises and solicits insurance

If a producers license was revoked for violation of the insurance code, when can the producer apply for a new license

After 3 years

Who is considered a nonresident agent?

An agent who resides in another state, but is licensed to write insurance in this state.

When an agent obtains an insurance license for the primary purpose of writing insurance for himself, his spouse, or his business, this is called ?

Controlled business

Which of the following is an example of a producers fiduciary responsibilities ?

Forwarding premium to the insurer

Which of the following types of discrimination would be considered legal

In benefits on the basis of difference life expectancies

In this state, a temporary license may be issued for any of the following reasons EXCEPT

Producers early retirement

What is the purpose of requiring licenses for persons who transact insurance

Protect the general public

An agent who offers a cash reward to a prospect for buying a policy is guilty of

Rebating

The Director of Insurance is responsible for all of the following actions EXCEPT

Setting premium rates

An agents license may be suspended or revoked for all of the following reasons EXCEPT

Sharing commissions with another agent

If the director issues a cease and desist order, that means the insurer must

Stop committing a particular violation

An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called

defamation