FREE AND STUDY GAMES ABOUT CHAP2 EXAM

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FREE AND STUDY GAMES ABOUT CHAP2 EXAM

QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -15 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: The State Guaranty Association guarantees

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that the claim will be paid if the insurer becomes insolvent Question 2: In addition to the state, the organization that regulates variable life and variable annuities is the

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Securities and Exchange Commission (SEC Question 3: In Florida, properly licensed and appointed agents may act as brokers in insurance transactions, in which case they may legally represent

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the applicant and insured Question 4: All of the following methods support the sale of insurance through agents and brokers EXCEPT

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direct selling system

Question 5: Which of the following statements regarding types of insurers is NOT correct?

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Reinsurers usually deal with group policyowners Question 6: Regarding landmark cases and laws involving the regulation of insurance, which of the following statements is NOT correct?

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The Federal Trade Commission (FTC) directly supervises all insurance marketing activities.Question 7: A life insurance company, organized in Illinois, with its home office in Philadelphia, is licensed to conduct business in Florida. In Florida, this company is classified as a(n)

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foreign company Question 8: Which of the following statements regarding the National Association of Insurance Commissioners (NAIC) is NOT correct?

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The NAIC is empowered to prosecute and punish criminal violators in the insurance industry.Question 9: An insurance company organized and headquartered in Florida can be described as what type of company in Florida?

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Domestic Question 10: 13. The head of a state office of insurance regulation is generally responsible for all the following EXCEPT

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making insurance laws Question 11: In an insurance transaction, licensed agents legally represent which of the following?

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insurer

Question 12: A reinsurer is a company that

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assumes a portion of the risk from another insurer Question 13: The Buyer's Guide is intended to accomplish all of the following EXCEPT

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ensure that buyers obtain the lowest price for insurance

Question 14: Which of the following is not a service provider?

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Lloyd's of London Question 15: Producers are expected to adhere to all of the following standards to protect consumers and promote suitable sales EXCEPT

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assessing prospects financial ability to pay commissions