Company Regulation Copy

The Rising Sun Insurance Company sells its products through agencies that are able to represent and sell for multiple insurance companies. Which insurance marketing distribution system does this company utilize?

The Setting Sun Insurance Company sells its products through agencies that are contracted to sell its products; these agencies are typically only allowed to represent and sell for that insurance company. Which insurance marketing distribution system does this company utilize?

The Evening Star Insurance Company’s policies are sold by employees of the company that are licensed insurance producers. Which insurance marketing distribution system does this company utilize?

Which of the following is the ability of an insurer to meet its long-term financial obligations?

The Morning Star Insurance Company’s policies are sold directly through the mail, phone, or Internet without licensed insurance producers. Which insurance marketing distribution system does this company utilize?

Rates may not be all of the following EXCEPT what?

Which of the following best describes the word “rate”?

Which of the following statement is NOT true?

For most rates, each rate filing shall be within ______________________ the rates and supplementary information, changes, and amendments are effective.

If the insurer does not provide the necessary supporting information within how many days of the date on which the commissioner mailed notice, the rate filing may be considered incomplete, unfiled, and not available for use?

If a rate filing is returned to an insurer as not filed and not available for use, the insurer may not use the rate filing for any policy issued or renewed on or after how many days from the date the rate filing was returned?

The insurer may file a written application, stating the insurer’s reasons for using a higher rate than that otherwise applicable to a specific risk. Then, if the application is filed with and not disapproved by the commissioner within how many days after filing, the higher rate may be applied to the specific risk?

Which of the following statements about policy forms is NOT true?

A person must have all of the following to sell, solicit, or negotiate insurance–EXCEPT what?

To appoint a person, an insurer shall submit the electronic appointment to the commissioner ___________________ the date the producer contract is executed or receipt of the first insurance application.

To terminate a person’s appointment, an insurer shall submit the termination of appointment to the department ___________________ the identified effective date of termination.

The Uptonogood Insurance Company failed to settle a claim promptly. Which state law did this insurer violate?