Property & Casualty Test (Indiana Section) Questions with Answers (All Answers Correct)
28 views 2 purchases
Course
Property & Casualty
Institution
Property & Casualty
Insurance commissioner has the authority to..? - enforce state insurance laws
Department of Insurance has the power to..? - Supervise the organization, regulation,
examination, rehabilitation, liquidation and conservation of all insurance companies doing business
in the state
Insurance laws hav...
Insurance commissioner has the authority to..? - ✔✔ enforce state insurance laws
Department of Insurance has the power to..? - ✔✔ Supervise the organization, regulation,
examination, rehabilitation, liq uidation and conservation of all insurance companies doing business
in the state
Insurance laws have been written to protect - ✔✔ the insuring public
The commissioner has 3 main authorities - ✔✔ 1. Executive Authority
2. Legislative Authority
3. Judicial Authority
Executive Authority - ✔✔ to enforce state laws
Legislative Authority - ✔✔ to create Rules that explain or clarify laws
Judicial Authority - ✔✔ to hold Administrative Hearings
Who appoints the State Insurance Commissioner - ✔✔ state governor; can appoint and also fire
How is commissioner selected? - ✔✔ Solely based off knowledge and skill in insurance; no regard
to his/her political beliefs
Commissioner must post bond, what amou nt? - ✔✔ $50,000; this is to insure that they will
perform faithfully in his/her duties
Commissioner authorized to join what group? - ✔✔ National Association of Insurance
Commissioners (NAIC)
Powered by TCPDF (www.tcpdf.org)
1 / 1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICMATERIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
