Kansas Property and Casualty exam 2023 with 100% correct answers
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Course
Kansas Property and Casualty
Institution
Kansas Property And Casualty
Commissioner of Insurance is elected every, _____________. correct answers-elected to office every 4 years.
-If vacancy, governor will appoint a suitable person to fill the position until a qualified successor is elected.
Commissioner of Insurance is elected by ______________. correct answersTh...
Kansas Property and Casualty
Commissioner of Insurance is elected every, _____________. correct answers-elected to office every 4 years.
-If vacancy, governor will appoint a suitable person to fill the position until a qualified successor is elected.
Commissioner of Insurance is elected by ______________. correct answersThe voters in Kansas
General duties of the Kansas Commissioner of Insurance include : correct answers-general supervision, control, and regulation of persons and companies authorized to transact the business of insurance in Kansas.
-authority to make any rules necessary to enforce the insurance laws of Kansas.
-Supervises all transactions relating to the organization or reorganization of Insurance companies in Kansas and also supervises the sale of stocks, bonds, and other items that are evidence of interest or debt issued by those companies.
-Issues proper insurance license for producers, brokers, and certificates of authority for the Insurers qualified to conduct business in Kansas.
*Which of the following is not a general duty of the Kansas Commissioner of Insurance? correct answersCreates Kansas Insurance laws
*The Commissioner may examine the financial condition of any insurer whenever it is necessary OR at least every _______________ years. correct answers5
Powers of the Commissioner of Insurance regarding Department of Insurance hearings? correct answersThe Commissioner can examine witnesses and evidence
The Commissioner has subpoena power The Commissioner can serve a person a statement of charges and conduct a hearing
*The Commissioner of Insurance does not have the power to correct answersissue a cease and desist
*The Commissioner may subject a person who has violated the Kansas Insurance Code to imprisonment up to ________________ in the county jail. correct answers6 months
*In Kansas, insurers that are formed under the laws of Minnesota are _______________ companies. correct answersForeign
An insurance company or risk retention group licensed and incorporated in Kansas. correct answersDomestic Company
* A ________________ is required in order for an insurer to conduct business in the state of Kansas. correct answersCertificate of Authority
Any incorporated society, order or lodge, without capital stock, conducted solely for the benefit of its members and not for profit. correct answersFraternal Benefit of Society
*An individual or business entity required to be licensed under the provisions of Kansas statues to sell, solicit or negotiate insurance. The term ___________ also includes broker unless otherwise specified. correct answersProducer
*An individual or business entity that is licensed to act as an insurance agent and maintains a principal place of residence or business in Kansas. correct answersResident Producer
*An individual or business entity doing business in Kansas, while being a licensed resident of another state. The producer must make application and be in good standing in their home state, and their home state must award a nonresident producer license to residents of Kansas on the same basis. correct answersNonresident Producer
The Commissioner of Insurance can issue a temporary insurance producer license for a period not exceeding 180 days, without requiring an examination, the following individuals or business entities:
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