Exam (elaborations)
WV LIFE INSURANCE LAWS AND RULES (ACTUAL) 2024 QUESTIONS AND ANSWERS
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WV LIFE INSURANCE LAWS AND RULES (ACTUAL) 2024 QUESTIONS AND ANSWERS
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WV LIFE INSURANCE LAWS AND RULES (ACTUAL)Which of these products does NOT require continuing education for the producer
selling them?
Property and Causality (P&C),
Credit Accident and Sickness Insurance,
Health insurance,
Life insurance - ANSWERS-Credit Accident and Sickness insurance.
Individuals in WV are personally invited to apply for life insurance on the basis of
the offer. This type of solicitation made by the insurer is called:
Batch Response,
Direct response,
Bracket response,
Bundle response - ANSWERS-Direct Response - an offer to persons in this state,
either directly or through a third party.
Which of the following provides funding for the WV Life and Health Guaranty?
NAIC,
Dept. of insurance,
Revenue bonds,
, Member company assessments - ANSWERS-Member company assessments -
funded by assessments on member companies.
Defamation occurs when a producer makes a false statement intended to:
malign another insurer,
replace an existing insurance policy with another,
restrict fair trade,
misrepresent the provisions of an insurance policy. - ANSWERS-Malign another
insurer.
Examination of Records - ANSWERS-The Commissioner can examine anyone in the
business of insurance in the state at anytime. A company shall be examined every
5 years.
Notice and Hearing - ANSWERS-the Commissioner may call and hold hearings for
any purpose deemed necessary.
Insurance Commissioner - ANSWERS-the commissioner may conduct
investigations or examinations whenever deemed necessary, subpoena the
witnesses to testify.
cease and desist order - ANSWERS-the commissioner may issue this order to any
person committed of an unfair or deceptive act.
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