The McCarran Act stated that the federal government would not regulate insurance as long as an adequate job of regulating the industry was done by
... [Show More] the:
a. Counties
b. Federal Government
c. Insurers in a state
d. States
?
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
a. False advertising
b. Defamation
c. Coercion
d. Misrepresentation
?
A "certification of license status" report can be run on any currently licensed New Jersey producer, but can only contain information on formal disciplinary actions taken within the past
a. 7 years.
b. 10 years.
c. 6 months.
d. 4 years.
?
Which of the following must an insurer obtain in order to transact insurance within a given state?
a. Business entity license
b. Insurer's license
c. Certificate of authority
d. Producer's certificate
c
Why is an equity indexed annuity considered to be a fixed annuity?
a. It is not tied to an index like the S&P 500.
b. It has a guaranteed minimum interest rate.
c. It has modest investment potential.
d. It has a fixed rate of return.
?
In comparison to consumer reports, which of the following describes a unique characteristic of investigative consumer reports?
a. The customer has no knowledge of this action.
b. The customer's associates, friends, and neighbors provide the report's data.
c. They provide additional information from an outside source about a particular risk.
d. They provide information about a customer's character and reputation.
?
The company owes premium money to the insured. The insurer gave the funds to the producer to return to the insured. Within how many days must the producer pay the insured?
a. 5
b. 10
c. 14
d. 30
a
The Waiver of Cost of Insurance rider is found in what type of insurance?
a. Joint and Survivor
b. Juvenile Life
c. Universal Life
d. Whole Life
c
If the policyowner, the insured, and the beneficiary under a life insurance policy are three different people, who has the ownership rights?
a. The insured and the policyowner
b. Beneficiary
c. Insured
d. Policyowner
?
Which of the following is an example of a producer being involved in an unfair trade practice of rebating?
a. Inducing the insured to drop a policy in favor of another one when it's not in the insured's best interest
b. Charging a client a higher premium for the same policy as another client in the same insuring class
c. Making deceptive statements about a competitor
d. Telling a client that his first premium will be waived if he purchased the insurance policy today
d
Which of the following entities established the Do-Not-Call Registry?
a. The Better Business Bureau
b. The NAIC
c. The Consumer Protection Agency
d. The Federal Trade Commission
d
If a telemarketer wants to make an unsolicited sales call to a potential customer, what is the earliest time the telemarketer can call the prospect's residence?
a. 7 am
b. 8 am
c. 9 am
d. Noon
b [Show Less]