A nonresident producer Study guides, Class notes & Summaries

Insurance test questions Agent Thompson received a letter from the Department of Insurance asking her to provide proof of completing the continuing education requirements. Within how many days must Agent Thompson respond to the Department's inquiry? 20 30 10 45 - correct answer 10 days Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to...

Michigan Life, Accident, and Health Exam Questions and Answers Already Passed The Commissioner of Insurance is appointed by the Governor for a term of 4 years All of the following are examples of insurance transactions except: A. soliciting applications for insurance B. delivering policies C. licensing of producers D. collecting premiums Correct answer: C - licensing of producers A temporary license issued to close the affairs of a deceased producer may be issued for up to ____...

Pennsylvania Law defines business entity as - a person which is not an individual. After 1 or more licensed as producer must comply with state insurance laws may apply to department for insurance producer license as business entity application, will be same lines of authority held be individual producers. Producer is someone who sells, solicits, or negotiates insurance contract and must be licensed. The following dont have to be licensed as insurance producer: - insurer, employee of insurer n...

Exam Fx-Property and Casualty Exam Questions and Answers 100% Pass To be considered an insurable risk, a loss may NOT be catastrophic Which of the following persons would be required to hold a producer license? a nonresident agent who negotiates insurance contracts Which of the following is the oldest known type of insurance? ocean marine The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks? the difference in the actual cash va...

How many days is a temporary producers license valid? 30 60 90 180 - Answer-180 In Indiana, the maximum fine the the commissioner can impose on a producer or company who violates a cease and desist order is___per violation? $10,000 $15,000 $20,000 $25,000 - Answer-$25,000 Which of these is an example of twisting? A producer maliciously aligns another insurance company's financial status A producer misrepresents a policy to induce a policyowner to surrender an existing policy A pro...

Law of Large Numbers - correct answer Recognizes that as the number of exposure units increases, the more likely it is to predict accurately the expected outcome. What must an insurance producer do to apply for a nonresident license in Pennsylvania? - correct answer Prove that their license is in good standing in their home state Which best describes the responsibilities an agent owes when they sell a policy? - correct answer To provide the agreed-upon insurance and to place coverage with ...

Pre-Licensing Insurance Course Chapter 19 (Part 1) Already Graded A The Commissioner may by order limit the authority of a temporary licensee in any way considered necessary: a. To protect insureds and the public b. To accredit insureds and insurers c. To recognize the insureds of Indiana d. To certify the insurers of Indiana a. To protect insureds and the public How many months does an applicant for a resident insurance producer license have to file a course completion certificate with the Co...

Connecticut Producer's Examination for Life/Accident and Health Insurance 2024 New Review Licensing Process - 1) Be 18 years or older 2) Be a U.S. citizen or a legally admitted alien 3) Complete all educational requirements 4)Pass exam 5) Be a legal resident at the time of application 6) Satisfy the Commission as to honesty, trustworthiness, integrity, and competency. Honesty, trustworthiness, and integrity will be established by the background check on the initial application. Types...

DE LIFE INSURANCE EXAM A worker who is considered currently insured is entitled to which of the following Social Security benefits? survivors benefits only Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Delaware. Which of the following conditions must she satisfy? She must show that her Ohio license is in good standing A person who is not a Delaware resident may be licensed as an insurance producer in Delaware if the perso...

NJ Life Insurance Test Questions and Answers Already Passed The McCarran-Ferguson Act was passed by Congress to Redefine the authority of the state and federal government to regulate the insurance industry The principle that insurance is not a transaction of commerce and so should be regulated by the state was established in: Paul v. Virginia In New Jersey, a producer who violates a New Jersey insurance law for the first time may be fined up to $5,000 The New Jersey Banking an...