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Ch.8 Exam: Tennessee Laws And Rules Pertinent To Insurance Questions And Answers With Verified Solutions 100% Correct Latest Updated 2024$14.49
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Ch.8 Exam: Tennessee Laws And Rules
Pertinent To Insurance Questions And
Answers With Verified Solutions 100%
Correct Latest Updated 2024
When a life insurance application is completed, a Policy Summary must be given
to the applicant. The Policy Summary MUST include. - ANSWER✔✔the premium
cost for basic coverage applied for
What is the maximum fine that can be imposed by the Commissioner to a producer
who violates an insurance law? - ANSWER✔✔$1,000 per violation
When a Medicare Supplement policy is delivered to a policyholder, which of the
following MUST accompany the policy? - ANSWER✔✔Outline of Coverage
Which of these is NOT a legitimate insurance marketing practice for obtaining
business from a competitor? - ANSWER✔✔Reducing commissions in order to
make a sale
Which of the following would best describe the actions of an insurer who promises
the cheapest premium rates in the United States? - ANSWER✔✔False advertising
An individual health insurance policy is REQUIRED to contain a(n) -
ANSWER✔✔Payment of Claims provision
Who determines the education credits needed for a producer's continuing
education? - ANSWER✔✔Commissioner of Commerce and Insurance
, In Tennessee, a(n) _____ insurance company is one formed under the laws of a
state outside of Tennessee. - ANSWER✔✔foreign
A Long-Term Care policy sold in Tennessee MUST be - ANSWER✔✔Guaranteed
Renewable
Which of the following is the purpose of the Tennessee Guaranty Association? -
ANSWER✔✔All of the above
How long is a temporary license valid? - ANSWER✔✔180 days
XYZ Corp was issued a group Accident and Health policy for its employees.
Under this plan a - ANSWER✔✔policy must be issued to XYZ, and a certificate
must be issued to each employee
The Insurance Commissioner is REQUIRED to do which of the following before
holding a hearing that could lead to the suspension of a producer's license. -
ANSWER✔✔Give written notice to the producer
In Tennessee, an insurer that is incorporated in New Jersey and conducts business
in Tennessee is called a(n) - ANSWER✔✔Foreign insurer
A business entity can be defined as a(n) - ANSWER✔✔an association or a limited
liability company
A provision that the policy, application, and all attachments shall constitute the
____ between the parties. - ANSWER✔✔Entire Contract
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