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5 Written questions

5 Matching questions

  1. Which of the following would be considered an Unfair Trade Practice? Twisting? Rebating? Coercion? or All?
  2. Although their liability is clear, B.B.S. Insurance Company routinely delays all claim payments for 90 days, and in doing so:
  3. Which of the following is NOT considered to be an unfair claims practice? A. Misrepresenting pertinent facts or uninsured policy provisions relating to coverages at issue? B. Refusing to pay claims without conducting a reasonable investigation based upon all available information, C. Attempting to settle claims on the basis of an application that was altered without notice to or the knowledge of the insured, D. Failing to honor an uncovered claim.
  4. All of the following events are considered acts of terrorism except: A. Acts of riot and civil commotion; B. Acts considered dangerous to human life, property or infrastructure; C. Acts resulting in damage within or outside the United States; D. Acts committed by an individual or individuals acting on behalf of any foreign person or foreign interest.
  5. An insurer that distributes a statement that misrepresents the benefits, advantages, conditions, or terms of any insurance policy would be guilty of:
  1. a A. Acts of riot and civil commotion are not covered under this at. These perils are covered under most property insurance contracts.
  2. b D. Declining to pay a claim that is not covered is not considered to be an unfair claims practice act. However, not responding promptly in the claim investigation is a violation.
  3. c Misrepresentation and False Advertising.
  4. d All of these are considered to be a violation of the unfair trade practices.
  5. e They are guilty of an unfair claim settlement practice.

5 Multiple choice questions

  1. Fair labor standards and anti-trust matters
  2. D. Life insurance losses are not covered by the act.
  3. The Secretary of Treasury in concurrence with the Secretary of State, and the Attorney General of the U.S. certifies an act of terrorism.
  4. TWISTING--making unfair or inaccurate comparisons to induce a person to drop their current coverage.
  5. D. $5,000,000 in damages is the threshold for the act to apply.

5 True/False questions

  1. None of the following can be covered by the Federal Terrorism Act Insurance Program except: A. Most commercial property and casualty risks; B. Federal crop insurance; C. Personal insurance policies; D. Health and life insurance policies.A. The act does not apply to federal crop insurance, personal insurance policies or life and health policies.


  2. An incorporated insurance company with its capital divided into shares is the definition of:The Secretary of Treasury in concurrence with the Secretary of State, and the Attorney General of the U.S. certifies an act of terrorism.


  3. Which of the following would be considered unfair or deceptive acts by an adjuster? A. Requesting that a first party claimant sign a release that extends beyond the subject matter which gave rise to the claim payment, B. Advising the claimant that their rights may be impaired if a form of release is not completed within a specified period of time unless for the purpose of notification of statute of limitations; C. Issuing a check or draft, in partial settlement of a loss or claim under specific coverage that contains language that releases the insurer or its insured from its total liability; D. All of the above.D. All of these are considered to be unfair claim practices.


  4. The responsibility to regulate the insurance industry belongs to:Both federal & state government


  5. Should an agent or adjuster have a change of address, the obligation to notify the state insurance dept. lies with:The licensee. The person who holds the license is responsible to report the change of address to the state insurance dept.


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