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5 Written questions

5 Matching questions

  1. An insurer that refuses to pay claims without conducting a reasonable investigation based upon all available information is guilty of:
  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.
  3. An insurer that distributes a statement that misrepresents the benefits, advantages, conditions, or terms of any insurance policy would be guilty of:
  4. Which of the following would be considered an Unfair Trade Practice? Twisting? Rebating? Coercion? or All?
  5. 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.
  1. a Misrepresentation and False Advertising.
  2. b A. The act does not apply to federal crop insurance, personal insurance policies or life and health policies.
  3. c 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.
  4. d D. All of these are considered to be unfair claim practices.
  5. e All of these are considered to be a violation of the unfair trade practices.

5 Multiple choice questions

  1. The licensee. The person who holds the license is responsible to report the change of address to the state insurance dept.
  2. Domestic Insurer
  3. They are guilty of an unfair claim settlement practice.
  4. Must satisfy the insurance department that you are TRUSTWORTHY.
  5. Fair labor standards and anti-trust matters

5 True/False questions

  1. In order to be certified as an act of terrorism under the Federal Terrorism Act, property and casualty losses must exceed _________ in the aggregate: A. $500,000 ; B. $1,000,000 ; C. $3,000,000 ; D. $5,000,000D. Life insurance losses are not covered by the act.


  2. 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


  3. 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.


  4. The responsibility to regulate the insurance industry belongs to:Fair labor standards and anti-trust matters


  5. 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.D. $5,000,000 in damages is the threshold for the act to apply.


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