100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Life Insurance/ annuities 2-14 Questions and Answers Rated A+ $9.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. Life Insurance/ Annuities 2-14
  4.  
  5. Life Insurance/ annuities 2-14

Exam (elaborations)

Life Insurance/ annuities 2-14 Questions and Answers Rated A+
 22 views  0 purchase
  • Course
  • Life Insurance/ annuities 2-14
  • Institution
  • Life Insurance/ Annuities 2-14

Life Insurance/ annuities 2-14 Questions and Answers Rated A+ Which of the following individuals MUST be licensed as an agent? A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? The agent must h...

[Show more]

Preview 3 out of 20  pages

Document information

  • January 18, 2024
  • 20
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance annuities 2 14 questions and answe

Written for

  • Life Insurance/ annuities 2-14
  • Life Insurance/ annuities 2-14

Seller

avatar-seller
StellarScores

Reviews received

Content preview

Life Insurance/ annuities 2-14 Questions
and Answers Rated A+
Which of the following individuals MUST be licensed as an agent? ✔✔A person who places

insurance on behalf of anyone seeking insurance.




Which of the following statements regarding a nonresident insurance agent is CORRECT?

✔✔The agent must hold a similar license in their state of residence




State insurance laws specifically allow the Commissioner(or Director) to issue a temporary

license to which of the following individuals? ✔✔A surviving spouse of a deceased agent




A person is required to be AT LEAST how old before he or she is licensed as an agent in most

states? ✔✔18




Insurance agents must notify the Commissioner(or Director) of a change of home address within

a MAXIMUM of how many days? ✔✔30




An agent's license can be suspended or revoked by... ✔✔Writing primarily controlled business

,Which of the following activities will NOT result in the suspension of an agent's license.

✔✔Working for an foreign insurer.




All of the following will result in the suspension of an agent's license EXCEPT.... ✔✔Acting

with fiduciary responsibility




Which of the following acts is an agent NOT authorized to do on behalf of an insurer?

✔✔Authorize claim payments




According to state insurance law, while transacting insurance business, agents act as

representative of... ✔✔The insurer




An insurance broker is a representative of... ✔✔Insured




T is an agent and when hired, is reminded that he has a responsibility to handle clients' funds in

an honest and ethical manner. This responsibility is referred to as... ✔✔Fiduciary responsibility

, Insurance companies that are organized in countries outside the United States are referred to as...

✔✔Alien




An insurance company incorporated under the laws of the state in which its home office is

located is called a(n)_____ company ✔✔Domestic




If an insurance company is organized under the laws of New Jersey and licensed to do business

here, it is considered which of the following in Texas? ✔✔A foreign company




An insurance company that is incorporated in New Hampshire and does business in Florida is

defined in Florida as... ✔✔A foreign insurer




A foreign insurance company is one that is incorporated... ✔✔Under the laws of another state




In order for domestic, foreign, or alien insurance company to conduct business, it must be

authorized by whom? ✔✔The state where they are conducting business




A certificate of authority does which of the following? ✔✔Permits an insurance company to

transact business in that state

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller StellarScores. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73314 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart