5 Written questions
5 Matching questions
- No act will be certified by the Secretary as an act of terrorism under the Federal Terrorism Act if: A. The act is not committed as part of the course of war declared by Congress; B. The act is one of terrorism as defined by the Act; C. The losses that occur relate to commercial property risks; D. The losses that occur relate to life insurance.
- Should an agent or adjuster have a change of address, the obligation to notify the state insurance dept. lies with:
- An incorporated insurance company with its capital divided into shares is the definition of:
- 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.
- The responsibility of the federal government in regulating the insurance industry is limited to:
- a A stock company. A stock company is owned by its stockholders.
- b Fair labor standards and anti-trust matters
- c D. Life insurance losses are not covered by the act.
- d The licensee. The person who holds the license is responsible to report the change of address to the state insurance dept.
- e A. The act does not apply to federal crop insurance, personal insurance policies or life and health policies.
5 Multiple choice questions
- Unfair claim settlement practices. Conducting a prompt, reasonable and thorough investigation is a requirement. If not conducted in this manner, it is considered a violation of the unfair claim practices.
- D. All of these are considered to be unfair claim practices.
- Misrepresentation and False Advertising.
- B. Greeting cards do not constitute a form of rebating. They are not something of commercial value.
- All of these are considered to be a violation of the unfair trade practices.
5 True/False questions
An insurance company that is formed and domiciled under the laws of a particular state is an example of a(n): → Domestic Insurer
An act of terrorism must be "certified" to be such an act by: → The Secretary of Treasury in concurrence with the Secretary of State, and the Attorney General of the U.S. certifies an act of terrorism.
The department of insurance has been advised that an agent is guilty of an insurance code violation. The commissioner/department will: → Both federal & state government
Which of the following is a requirement for obtaining an agent's or adjuster's license? → Must satisfy the insurance department that you are TRUSTWORTHY.
Although their liability is clear, B.B.S. Insurance Company routinely delays all claim payments for 90 days, and in doing so: → Both federal & state government