5 Written questions
5 Matching questions
- 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.
- An insurance company that is formed and domiciled under the laws of a particular state is an example of a(n):
- An act of terrorism must be "certified" to be such an act by:
- Should an agent or adjuster have a change of address, the obligation to notify the state insurance dept. lies with:
- 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.
- a Domestic Insurer
- 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 D. Life insurance losses are not covered by the act.
- d A. Acts of riot and civil commotion are not covered under this at. These perils are covered under most property insurance contracts.
- e The licensee. The person who holds the license is responsible to report the change of address to the state insurance dept.
5 Multiple choice questions
- Fair labor standards and anti-trust matters
- Both federal & state government
- TWISTING--making unfair or inaccurate comparisons to induce a person to drop their current coverage.
- Must satisfy the insurance department that you are TRUSTWORTHY.
- D. All of these are considered to be unfair claim practices.
5 True/False questions
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. → A. Acts of riot and civil commotion are not covered under this at. These perils are covered under most property insurance contracts.
An insurer that refuses to pay claims without conducting a reasonable investigation based upon all available information is guilty of: → 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.
An insurer that distributes a statement that misrepresents the benefits, advantages, conditions, or terms of any insurance policy would be guilty of: → 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.
Which of the following would be considered an Unfair Trade Practice? Twisting? Rebating? Coercion? or All? → 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.
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.