UTAH PROPERTY CASUALTY INSURANCE ADJUSTER EXAM WITH 100% CORRECT ANSWERS.
3 views 0 purchase
Course
UTAH.
Institution
UTAH.
UTAH PROPERTY CASUALTY INSURANCE ADJUSTER EXAM WITH 100% CORRECT ANSWERS.
A - UTAH: A person applying for an adjuster's license in Utah must (BSPEBS): - CORRECT ANSWER * Be at least 18 years old
* SSN
* Personal History
* Experience
* Business Record
* Submit a non-refundable fee
B - ...
UTAH PROPERTY CASUALTY
INSURANCE ADJUSTER EXAM WITH
100% CORRECT ANSWERS.
A - UTAH: A person applying for an adjuster's license in Utah must (BSPEBS): - CORRECT ANSWER * Be at
least 18 years old
* SSN
* Personal History
* Experience
* Business Record
* Submit a non-refundable fee
B - UTAH: A non-resident agent (a new agent) moving into Utah must apply within __________ days to
become a resident licensee. - CORRECT ANSWER 90
C - UTAH: Qualifications: A licensee must - - CORRECT ANSWER * At least 18 years old
* Good faith
* No controlled business
* No grounds for denial, suspension, or revocation
D - UTAH: To become a consultant, a person must have had a training period of at least __________ of
the last 4 years. - CORRECT ANSWER 3
E - UTAH: A producer must biennially complete __________ credit hours of continuing education.
__________ must be ethics. - CORRECT ANSWER 24
3 must be ethics
F - UTAH: For a producer, __________ __________ means insurance issued on one's own property or
the property of relatives by blood or marriage. - CORRECT ANSWER Controlled business
,G - UTAH: A promotional gift is an inducement if a person must complete an __________ to receive it. -
CORRECT ANSWER Application
H - UTAH: The commissioner must examine every insurer and rate an organization at least once every
__________ years. - CORRECT ANSWER 5
I - UTAH: Who may be held liable for an unpaid claim under an illegal contract? - CORRECT ANSWER The
person issuing the contract
J - UTAH: What may the commissioner do if a person commits insurance fraud? - CORRECT ANSWER
Suspend or revoke the person's license.
K - UTAH: An insurer must cease using a rate within __________ days if the rate is rejected. - CORRECT
ANSWER 60
L - UTAH: Each insurer must notify the commissioner within __________ days after terminating the
appointment of any agent or organization. - CORRECT ANSWER 10
M - UTAH: A producer or consultant must keep documentation of completing continuing education
requirements for __________ years after the end of each 2-year licensing period. - CORRECT ANSWER 2
N - UTAH: A licensee must notify the commissioner within __________ days after any change of address,
phone #, or business email and before using an assumed name in Utah. - CORRECT ANSWER 30
O - UTAH: A licensee may be required to wait for up to __________ years after revocation before
applying for a new license. - CORRECT ANSWER 5
P - UTAH: The commissioner may place a licensee on probation for up to __________ months.
__________ for a new licensee. - CORRECT ANSWER 24 for existing licensees
12 for new licensees
,Q - UTAH: Each authorized insurer must file all rates, supplementary rate information, and the filing fee
with the commissioner within __________ days after the rate's effective date. The exception? -
CORRECT ANSWER 30
EXCEPTION: Rate changes to an assigned risk plan must be filed immediately.
R - UTAH: Each insurer must respond to any request from the commissioner for rate information within
__________ days. - CORRECT ANSWER 45
S - UTAH: An insurer may request approval to charge a higher rate for a specific risk and may be used if
not disapproved within __________ days. - CORRECT ANSWER 10
T - UTAH: Licensees must notify persons about privacy practices at least once every __________
months? - CORRECT ANSWER 12
U - UTAH: A licensee must give a person __________ days to opt out of privacy disclosures. - CORRECT
ANSWER 30
1-1: A __________ insurance company is owned by its policy holders. - CORRECT ANSWER Mutual
1-2: If an insurance company wants to transfer all or part of the risk it has accepted, it would do so by
which type of insurance? - CORRECT ANSWER Reinsurance
1-3: A __________ insurance company is organized under the laws of another state within the U.S.
Organized in another country? - CORRECT ANSWER Foreign Insurer
Alien Insurer if another country
1-4: The __________ department of an insurance company accepts the insurance risk. - CORRECT
ANSWER Underwriting
, 1-5: Who represents the insurance company when selling an insurance policy? - CORRECT ANSWER
Producer / Agent
1-6: What type of authority does the public assume an agent has when quoting insurance, completing
applications, and accepting premiums? - CORRECT ANSWER Implied
1-7: A producer has each of the following responsibilities EXCEPT:
A: Fiduciary duty
B: Forwarding premiums to the insurer on a timely basis
C: Reporting material facts that may affect underwriting
D: A duty to recommend only high rate policies - CORRECT ANSWER A duty to recommend only high
rate policies
1-8: A federal regulation that protects consumer privacy is the __________. - CORRECT ANSWER Fair
Credit Reporting Act
1-9: Dishonest tendencies that increase the probability of loss is what type of hazard? - CORRECT
ANSWER Moral hazard
1-10: Each of the following must be included in an insurance risk EXCEPT:
A: Calculable chance of loss
B: Excluded catastrophic perils
C: Large group with dissimilar members
D: Accidental losses - CORRECT ANSWER Large group with dissimlar members
Included (ACE):
Accidental Losses
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 ROSEGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
