Primerica Exam Law

According to the Insurance Information & Privacy Protection Act, when must an insurer provide notice of information practices to the insured? a) Only upon the insured's request b) Only if a policy is delivered by mail c) Monthly d) At the time of policy delivery

At the time of policy delivery

An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. The agent is guilty of a) Rebating. b) Coercion. c) Twisting. d) Controlled business.

Rebating

Which of the following is the principal in an insurance contract? a) The Insurer b) The Director c) The Company Manager d) The Agent

The insurer

When transacting business in this state an insurer formed under the laws of another country is known as a/an a) Domestic insurer. b) Foreign insurer. c) Admitted insurer. d) Alien insurer.

Alien insurer

The Commissioner must examine the transactions of an insurer at least once every a) 3 years. b) 4 years. c) 5 years. d) 2 years.

5 years

According to form regulations in this state, every form must be filed with the Commissioner how many days in advance before its use? a) 30 days b) 60 days c) 90 days d) 180 days

60 days

Which of the following is NOT a form on which credit life and disability may be issued? a) Joint life policies issued to debtors b) Individual disability policies c) Joint life policies issued to creditors d) Individual life policies

Joint life policies issued to creditors

Which of the following documents must be provided to the policyowner or applicant during policy replacement? a) Policy illustrations b) Notice Regarding Replacement c) Disclosure Authorization Form d) Buyer's Guide and Policy Summary

Notice Regrading Replacement

Pertaining to insurance, what is the definition of a fiduciary responsibility? a) Promptly forwarding premiums to the insurance company b) Helping insureds to file claims c) Performing reviews of insured's coverage d) Offering additional coverage to clients

Promptly forwarding premiums to the insurance company

An Insurance Commissioner receives a check from an insurer. Under what circumstances would this be permissible? a) The Commissioner is directly related to the insurer. b) Any compensation is mediated by an independent attorney. c) Any fees fall at standard market rates. d) The Commissioner is a claimant of the insurer.

The Commissioner is a claimant of the insurer

Who is required to pay the expenses directly related to an examination of the insurer's books and records? a) The Commissioner b) The state c) The Attorney General d) The examinee

The examinee

Which of the following is an agreement between an insured and an insurer, where the insurer agrees to indemnify the insured for specific losses in exchange for a premium? a) The insurance guaranty b) Reciprocity c) The indemnity clause d) The insurance contract

The insurance contract