CH.5 QUIZ GENERAL STATE LAW EXAM QUESTIONS

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CH.5 QUIZ GENERAL STATE LAW EXAM QUESTIONS

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -31 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: A

Answer:

Someone who holds a counselors license and no other license may do which of the following?

• give advice about insurance for a fee

• Sell insurance

• negotiate insurace

• Solicit insurance

Question 2: D

Answer:

Within how many days of a producer signing a contract to represent an insurer must the insurer file the notice of appointment?

• 10

• 30

• 5

• 15

Question 3: A

Answer:

When a person involved in the insurance industry makes maliciously critical statements about the financial condition of the insurer they have committed which of the following violations?

• defamation

• discrimination

• rebating

• misrepresentation

Question 4: B

Answer:

If a producer purposely lies on an application for insurance he has committed which violation under the law?

• fiduciary violation

• Misrepresentation

• Twisting

• Defamation

Question 5: C

Answer:

An unlicensed individual can do all of the following except?

• take claim information

• take the information necessary to file out an application

• give advice to an insured regarding their insurance policy

• set up appointments for a producer

Question 6: A

Answer:

If a producer does not pay their fine commissioner/Director could do which of the following?

• revoke the producer's license

• Seize the producers business bank accounts

• put the producer in jail

• make the producer appear before a judge

Question 7: B

Answer:

Which of the following would not be considered a violation of the rebating statute?

• give a $20 gas card

• giving a $5 pen with the company logo

• giving a $20 shirt with the company logo

• giving a $25 bag with the company logo

Question 8: B

Answer:

An insurance agency will place you in a drawing for a free trip if you purchase a policy from them. This is an example of which of the following?

• misrepresentation

• illegal inducement

• twisting

• fiduciary violation

Question 9: C

Answer:

If a producer does not turn over money to the insurer in a timely manner they have committed which of the following violations?

• twisting

• misrepresentation

• fiduciary violation

• rebating

Question 10: B

Answer:

Which of the following would not be a violation of the unfair claim statute?

• denying a claim conducting a reasonable investigation

• not calling the insured back within a day of them contacting you

• misrepresenting the terms of the contract

• Failing to timely inform the insured what constitutes a valid proof of loss

Question 11: D

Answer:

If a producer misrepresents the terms of policy in order for you to replace one policy with another, the producer has committed which of the following?

• illegal inducement

• misrepresentation

• fiduciary violation

• twisting