insurance regulation
the federal fair credit reporting act
Regulates consumer reports
which of the following will NOT be considered unfair discrimination by insures
discriminating in benefits and coverages based on the insured's habit and lifestyle
which of the following would be considered an illegal inducement to purchase life insurance?
confirming future divides in a life insurance proposal
during a sale presentation a producer intentionally makes a statement which may mislead the insurance applicant. This describes
misrepresentation
Under the Fair Credit and Reporting Act, individuals rejected for insurance due to information consumer report
must be informed of the source of the report
which of the following is not correct regarding false statements by a person engaged in the business of insurance?
only written statements can be considered fraud
in a circumstance that would warrant license suspension, the commissioner may instead decide to put the license on probation. what is the maximum number of months that the probation could last?
24
If a consumer requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply?
5 days
which of the following reports will provide the underwriter with the information about an insurance applicant's credit
consumer report
An insurer devises an intimidation strategy in order to corner a large portion of the insurance market. Which of the following best describes this practice?
Illegal
which of the following entities established the do not call registry
the federal trade commission
all of the following are true regarding rebates EXCEPT
rebates are allowed if its the best interest of the client
Any inducement in the sale of insurance that is not specified in the policy is unlawful practice known as
rebating
producer will be deemed to be using their license primarily to write controlled business if ,during any 12 months period
the total premiums on controlled business exceeds the total premiums on all other business written.
what is the maximum penalty for habitual willful noncompliance with the fair credit reporting act?
2,500
