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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. The responsibility of the federal government in regulating the insurance industry is limited to:
  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. The unethical act of persuading a policyowner to drop a policy solely for the purpose of selling another policy is known as:
  5. All of the following are considered acts of rebating except: A. An agent provides an all-expenses paid cruise to a client and his wife in exchange for writing the coverage on his national chain of restaurants; B. An agent sends holiday greeting cards to all the clients on his mailing list; C. An adjuster receives a monthly check from an auto body repair shop for recommending the repair shop to clients who have a claim; D. All of these situations are considered acts of rebating.
  1. a Fair labor standards and anti-trust matters
  2. b B. Greeting cards do not constitute a form of rebating. They are not something of commercial value.
  3. c All of these are considered to be a violation of the unfair trade practices.
  4. d TWISTING--making unfair or inaccurate comparisons to induce a person to drop their current coverage.
  5. e 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.

5 Multiple choice questions

  1. D. Life insurance losses are not covered by the act.
  2. Misrepresentation and False Advertising.
  3. Call for a hearing. Usually, the ins. commissioner/director will first call for a hearing to review all sides of the alleged infraction.
  4. The Secretary of Treasury in concurrence with the Secretary of State, and the Attorney General of the U.S. certifies an act of terrorism.
  5. They are guilty of an unfair claim settlement practice.

5 True/False questions

  1. 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.

          

  2. 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. Acts of riot and civil commotion are not covered under this at. These perils are covered under most property insurance contracts.

          

  3. Which of the following is a requirement for obtaining an agent's or adjuster's license?D. All of these are considered to be unfair claim practices.

          

  4. An insurance company that is formed and domiciled under the laws of a particular state is an example of a(n):A stock company. A stock company is owned by its stockholders.

          

  5. 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.A. Acts of riot and civil commotion are not covered under this at. These perils are covered under most property insurance contracts.

          

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