Guaranty claims - Study guides, Class notes & Summaries

Florida Life and Health Insurance Practice Questions with Certified Solutions Within how many days must a licensee notify the Department of Financial Services of a change in address? 30 All of the following entries are classified under the four principal areas of Florida insurance law EXCEPT... An agent's commission Which of the following factors is NOT considered when the Department of Financial Services determines if an agent's home is an insurance agency? The amount of premium collected ...

Office of Financial Regulation (OFR) - The Office. Regulatory authority in Florida. Responsible for overseeing banks, credit unions, savings associations, etc. Licenses and regulates non-depository finace entities. Financial Services Commission (The Commission) The head of the Office of Financial Regulation and the Office of Insurance Regulation. Its memebers include the Governor, Attorney General, Chief Financial Officer and Commissioner of Agriculture Commission. responsible for final...

Pennsylvania Property and Casualty Law Supplement Questions and Answers Already Passed Agents and brokers must notify the Insurance Department of any change in their residence or business address within: 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. A What is the maximum term of a tempo...

AINS 21 Exam Questions with All Correct Answers Which one of the following is generally exempt from state insurance regulations pertaining to policy forms and rates? A. Surplus line insurers B. Health insurers C. Commercial property insurers D. Workers compensation insurers - Answer Surplus line insurers A flex rating law is - Answer An insurance rating law under which prior approval is required only if the new rates exceed a certain percentage above (and sometimes below) the rate...

NJ Laws, Rules, and Regulations Common to Life, Accident, and Health Property and Casualty 100% Pass An insurer cancelled a contract with a producer on April 1st. By what date must the insurer notify the Commissioner of this action? A. April 30th B. April 5th C. April 11th D. April 15th D. April 15th An insurer goes bankrupt and is unable to pay on any of its insureds' claims. Which of the following will happen? A. The insureds will not be paid. B. The claims will be paid by a n...

The Commissioner of Insurance in Mississippi is elected to office for a term of - ANSWER 4 years The burden of proof for determining that a producer is representing an authorized insurer falls on - ANSWER The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is - ANSWER $1000 A foreign insurer - ANSWER An insurer formed under the laws of any state other than Mississippi would be known as Each of the following is true about the Mississippi R...

Property Insurance Test PearsonVue (LAW) Exam Practice Questions and Answers 100% Pass In this state, a domestic insurer is defined as a company that: A. Operates in this state but is incorporated in another state B. operates in this state but is domiciled in another state C. is headquartered in this state D. is incorporated in this state - Correct Answer ️️ -D. is incorporated in this state The Insurance Commissioner may issue a limited insurance representative license to an indivi...

The Commissioner of Insurance in Mississippi is elected to office for a term of - ANSWER 4 years The burden of proof for determining that a producer is representing an authorized insurer falls on - ANSWER The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is - ANSWER $1000 A foreign insurer - ANSWER An insurer formed under the laws of any state other than Mississippi would be known as Each of the following is true about the Mississippi R...

Pennsylvania Laws and Rules Chapter 12 Questions and Answers Already Passed What is the purpose of the Pennsylvania Life and Health Insurance Guaranty Association? 1) Assist an applicant choose the best insurer 2) Assist an applicant choose the right amount of coverage 3) Provide each policyowner a buyer's guide and policy summary 4) Provide policyowner protection if an insurer becomes insolvent Provide policyowner protection if an insurer becomes insolvent Viatical settlement br...

Stock Companies -:- -private organization focused to make profits for shareholders -Stock dividends are paid to stock holders -policyholders do not participate Mutual Companies -:- -have no stock holders -owners are policy owners -policy holders can vote for members of the board -policy owners receive dividends Lloyd's of London -:- -A syndicate of individuals who underwrite insurance Reinsurers -:- -are a specialized branch of the insurance industry because they insure insu...