Wa state life insurance - Study guides, Class notes & Summaries

WA State Laws and Regulations for Life and Disability Insurance WA State Laws and Regulations for Life and Disability Insurance WA State Laws and Regulations for Life and Disability Insurance

WA State Laws and Regulations for Life and Disability Insurance Exam Questions And Answers |Guaranteed Success

A producer's fiduciary responsibility includes which of the following activities? - Recording the receipt and distribution of premiums due to an insurer - Properly remunerating persons who furnish leads on prospects - Providing needed insurance to prospective insureds through any sources that are available - Guaranteeing payment to insureds for losses covered by policies that the producer sold - ANSWER Recording the receipt and distribution of premiums due to an insurer Group life in...

Insurance Commissioner - ANSWER Head of Office of Insurance Commissioner, is in charge of company supervision, consumer protection, and rates and forms. -Elected on a 4 year term -Pays 25k bond -Must examine records at least every 5 years Has Power to: -Issue rules to carryout or enforce the state insurance code -Hold investigations, -Hold examinations to see if anyone has broken the code. If commish has reason to believe someone has broken the code, they can: -Issue a cease and de...

Insurance transactions are governed by - ANSWER the legislators Insurance code. the insurance Commissioners administrative rules and regulations Commissioners term of office - ANSWER commissioner is elected by the voters to a four-year term commissioner powers - ANSWER investigate Insurance transactions. adopt rules to regulate unfair or disruptive acts and implement the legislatures insurance code. issue a cease and desist order to force compliance. prosecute a legal action to enforce the...

When does insured need an insurable interest? - correct answer when they buy insurance(not like property casualty where have to have at time of claim and not necessarily when buying) when is subrogation used? - correct answer not in life and seldom in health elimination period - correct answer what acts as the deductible in health insurance(the term deductible is not used in disibility insurance) - have to actually be disabled for a certian amount of time Annuity - correct answer provid...

WA State Laws and Regulations for Life and Disability Insurance Latest Exam Questions And Answers 2023#2024 Definite Success A

What disciplinary action will occur if a Washington broker disregards a child support order? - ANSWER License suspension When may a licensee receive compensation in Washington based on an appraisal result at or above a specific prearranged price? - ANSWER It's illegal in all circumstances. How is the Washington managing broker's exam presented? - ANSWER As a simulation-based exam In Washington, which agency is authorized to disseminate and enforce real estate licensing laws? - ANSWER ...