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5 Written questions

5 Matching questions

  1. An incorporated insurance company with its capital divided into shares is the definition of:
  2. An act of terrorism must be "certified" to be such an act by:
  3. An insurer that distributes a statement that misrepresents the benefits, advantages, conditions, or terms of any insurance policy would be guilty of:
  4. 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.
  5. The responsibility to regulate the insurance industry belongs to:
  1. a Both federal & state government
  2. 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.
  3. c B. Greeting cards do not constitute a form of rebating. They are not something of commercial value.
  4. d Misrepresentation and False Advertising.
  5. e A stock company. A stock company is owned by its stockholders.

5 Multiple choice questions

  1. TWISTING--making unfair or inaccurate comparisons to induce a person to drop their current coverage.
  2. D. Life insurance losses are not covered by the act.
  3. D. $5,000,000 in damages is the threshold for the act to apply.
  4. The licensee. The person who holds the license is responsible to report the change of address to the state insurance dept.
  5. D. All of these are considered to be unfair claim practices.

5 True/False questions

  1. 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.

          

  2. 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

          

  3. 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.

          

  4. An insurer that refuses to pay claims without conducting a reasonable investigation based upon all available information is guilty of:Misrepresentation and False Advertising.

          

  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.B. Greeting cards do not constitute a form of rebating. They are not something of commercial value.