Kansas Insurance Life and Health PreStudy Course Questions and Answers
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Course
Kansas Insurance Life
Institution
Kansas Insurance Life
Producer
Ans- An individual and/or an entity authorized in writing (through a company
contract) by a lawfully qualified insurance company to transact, negotiate, or
effect contracts of insurance on behalf of that insurance company.
Resident Producer
Ans- A person that resides in a state and ...
Kansas Insurance Life and
Health PreStudy Course
Questions and Answers
Producer
Ans- An individual and/or an entity authorized in writing (through a company
contract) by a lawfully qualified insurance company to transact, negotiate, or
effect contracts of insurance on behalf of that insurance company.
Resident Producer
Ans- A person that resides in a state and is licensed to "transact insurance
business" for at least one insurer in that same state.
Non-Resident Producer
,Ans- A producer that is licensed in their home state (where they reside) & has
written permission (a non-resident license) to sell in a state in which they do not
live.
The Commissioner of Insurance
Ans- Primary purpose is to enforce insurance code, 4 year term, administers or
regulates existing laws that have ALREADY been passed by the Legislature.
Does not make or change laws, but does have the power to make reasonable
rules or regulations to ensure existing laws are being followed.
Commissioner's Fines
Ans- $1,000 for each unintentional act, $2,000 for each intentional act
Fines of a Cease and Desist order
Ans- 6/mo period up to $1,000 per violation up to a max of $10,000
unintentional, $5,000 per violation up to $50,000 intentional
Continuing Education
, Ans- In order to keep your license, you must complete your continuing
education requirements. Your CE must be completed every two years (Biennium)
by your birthday. 12 hours for life and health.
Misrepresentation of Policies and Applications by Producers
Ans- If a producer knowingly gives false information or untrue comparisons of
any policy's benefits, advantages, or dividend schedule of either an existing
policy or the one that the producer is trying to sell; this also includes any
misinformation about any company's financial condition or its reserves.
Twisting
Ans- The practice of misleading clients towards one's own insurance coverage.
Insurance Company Advertising Compliance
Ans- The insurance company must submit a letter of compliance to the Kansas
Insurance Department as condition for advertising in Kansas stating that the
company agrees to comply with Kansas laws pertaining to insurance regulations.
Advertisements should be submitted to your company for approval prior to
being used. The information used in the advertisement is then kept on file at
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