Insurance Regulation Quiz 9

14問 • 3ヶ月前

問題一覧

If a consumer requests additional information concerning an investigative consumer report, how long does the insurer reporting agency have to comply?

5 days

Which of the following regulatory authorities participated in creating the National Do Not Call Registry?

FTC

Which of the following does a producer NOT have the authority to do?

Issue policies

Should an insurance company deny a claim submitted by an insured without providing to that insured a prompt and reasonable explanation of the claim denial, the insurer would be in violation of

Unfair claims methods and practices regulations

Agents who persuade insureds to cancel a policy in favor of another one when it might not be in the insured's best interest are guilty of

Twisting

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

The Federal Trade Commission

The Gramm-Leach-Bliley Act was passed to

Protect private customer information filed with a financial institution

The Federal Fair Credit Reporting Act

Regulates consumer reports

If an insurer appoints a producer, which authority must be notified?

Department of Insurance

All of the following are licensing requirements for a business entity EXCEPT

Having all employees complete continuing education courses once every 2 years

All of the following are considered unfair trade practices in the business of insurance EXCEPT

Sharing commissions

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

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

An individual was just caught acting as an exclusive general agent - even though he is not properly licensed. Assuming that this occurred in a single day, what is the maximum penalty he faces?

A third-degree misdemeanor and a $1,000 fine

Which of the following would be required to be licensed as an insurance producer?

A salaried employee who advertises and solicits insurance