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State Farm State Test Questions And Answers A+ Graded
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State Farm State Test Questions And Answers A+ Graded
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State Farm State Test Questions AndAnswers A+ Graded
Insurance producer CORRECT ANSWERS An individual or an entity authorized in
writing by a lawfully qualified insurance compnay to transact, negotiate or effect
contracts of insurance of behalf of that insurance company.
Resident Producer CORRECT ANSWERS Any person that lives in kansas and is
licensed to transact insurance business for at least one insurer.
A Non-resident producer CORRECT ANSWERS A producer that lives in some other
state;they are licensed in their owen home stae and has written permission from the
kansas insurance commisioner to sell in our state.
Commissioner CORRECT ANSWERS The insurance induster is regulated by the
kansas insurance commissioner, who is elected by the people to a 4 year term in
kansas
Purpose of the commissioner CORRECT ANSWERS The insurance commissioner
administers or regulates the laws that have been passed by the legislature. The
commissioner does not make or change insurance laws, but instead has the power to
make reasonable rules and regulations to ensure that the laws are beng followed.
Redlining CORRECT ANSWERS the practice of not seeling insurance to those who live
in the low-income, high-crime areas of town and is considered to be a form of unfair
discrimination.
Unfair Trade Practices Act CORRECT ANSWERS a state law that details illegal actions
performed by producers. if a producer is found guilty of any of the following actions,
penalties could include licensure suspension or revocation, fines, cease and desist
orders and redress of injury.
Fair Credit Reporting Act CORRECT ANSWERS The kansas property and casualty
guarantee association provide payment for covered claims under certain insurance
plicies in the event of insolvency of the insurer. All insurance companies holding
certificates of authority to conduct business in kansas must be members and participate
in this program through assessments. Each member is assessed a pro-rata share
based on net written premiums from the previous year. the maximum assessment is 2%
of net written premiums.
Peril CORRECT ANSWERS a specific "cause of loss"
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