5 Written questions
5 Matching questions
- An incorporated insurance company with its capital divided into shares is the definition of:
- An act of terrorism must be "certified" to be such an act by:
- An insurer that distributes a statement that misrepresents the benefits, advantages, conditions, or terms of any insurance policy would be guilty of:
- 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.
- The responsibility to regulate the insurance industry belongs to:
- a Both federal & state government
- b The Secretary of Treasury in concurrence with the Secretary of State, and the Attorney General of the U.S. certifies an act of terrorism.
- c B. Greeting cards do not constitute a form of rebating. They are not something of commercial value.
- d Misrepresentation and False Advertising.
- e A stock company. A stock company is owned by its stockholders.
5 Multiple choice questions
- TWISTING--making unfair or inaccurate comparisons to induce a person to drop their current coverage.
- D. Life insurance losses are not covered by the act.
- D. $5,000,000 in damages is the threshold for the act to apply.
- The licensee. The person who holds the license is responsible to report the change of address to the state insurance dept.
- D. All of these are considered to be unfair claim practices.
5 True/False questions
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.
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
Which of the following would be considered an Unfair Trade Practice? Twisting? Rebating? Coercion? or All? → D. All of these are considered to be unfair claim practices.
An insurer that refuses to pay claims without conducting a reasonable investigation based upon all available information is guilty of: → Misrepresentation and False Advertising.
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. → B. Greeting cards do not constitute a form of rebating. They are not something of commercial value.