Examen
Arkansas State Laws Quiz WITH 100- SURE ANSWERS
- Cours
- Établissement
Arkansas State Laws Quiz WITH 100- SURE ANSWERS
[Montrer plus]
Vendeur
S'abonner
mbitheeunice2015
Aperçu du contenu
AMEUNICE
Arkansas State Laws Quiz WITH QUESTIONS AND 100%
COMPLETE ANSWERS
Terms in this set (52)
Which of the following statements C
describing the fiduciary and contractual All funds received by licensee must be held in a trust, and any personal use is
relationships between producers, clients, considered theft
and insurers is correct?
A The fiduciary duty of the producer specifically refers to the funds that they handle for
A licensee appointed as an agent by one their clients and insurers, which are held in a trust and may not be diverted for their
insurer is considered an agent by all own use. Agents may act as brokers when dealing with firms with which they have no
insurers appointment. The reverse is equally true for brokers.
B
All funds received by a licensee must be
held in a trust, but the licensee may use the
funds to help out an insolvent insurer
C
All funds received by licensee must be
held in a trust, and any personal use is
considered theft
D
A licensed agent may not act as a broker
and a licensed broker may not act as an
agent
1/17
,Which of the following statements A
accurately describe the penalties that may The Commissioner may revoke the license of an individual who knowingly accepts
be imposed by the Commissioner? business from an unlicensed produce
A
The Commissioner may revoke the license If an individual knowingly accepts business from an unlicensed producer, the
of an individual who knowingly accepts Commissioner may revoke the license. The Commissioner may not revoke a license if
business from an unlicensed producer an individual unknowingly accepts business from an unlicensed producer. The
B Commissioner may suspend a license for up to 36 months, impose a fine of up to
The Commissioner may order restitution for $1,000 for each violation of the Insurance Code, and order restitution for actual
projected losses to affected persons losses to affected persons.
C
The Commissioner may impose a fine of up
to $2,500 for violating any provision of the
Insurance Code
D
The Commissioner can suspend an
insurance license for up to 24 months
In Arkansas, a licensed insurance adjuster: A
Investigates and negotiates the settlement of claims on behalf of the insurer.
A
Investigates and negotiates the settlement
of claims on behalf of the insurer.
B
Must obtain an insurance agent license
C
Solicits, negotiates, effects, or binds
insurance contracts
D
Advises consumers about their insurance
needs for a fee
Which of the following statements C
regarding insurance licensing exam is not There is a four-week waiting period each time a candidate fails a licensing exam
correct?
A
Nonresident agents are not required to
pass an exam in Arkansas
B
Personal lines producers must pass a
licensing exam
C
There is a four-week waiting period each
time a candidate fails a licensing exam
D
An applicant must be tested on each
insurance class they wish to transact in
2/17
, In regard to hearings and the examination C
of insurer records, the Commissioner: May subpoena witnesses, administer oaths, and require the disclosure of books and
A records
May only examine domestic insurers in the
state of Arkansas, not foreign or alien The Commissioner may examine the records of any insurer, as often as needed, and
insurers may grant a rehearing of the matters involved in the hearing. The notice for a
B rehearing must be given out 10 days in advance.
May not examine insurer records more
often than once every 5 years
C
May subpoena witnesses, administer oaths,
and require the disclosure of books and
records
D
May grant a rehearing, and send the notice
30 days in advance
In Arkansas, charging different rates to B
insureds of the same actuarial class or Unfair discrimination
hazard category is considered which of the
following unfair trade practices?
A
Rebating
B
Unfair discrimination
C
Twisting
D
False advertising
All of the following are prohibited B
marketing practices in Arkansas, except: Replacement
A
Cold lead advertising Replacement is legal when it is in the best interest of the consumer; otherwise, it
B becomes twisting, which is illegal. Cold lead advertising is a prohibited marketing
Replacement practice, and it is using any marketing method that fails to disclose that insurance is
C being solicited.
High-pressure tactics
D
Misrepresentation
In Arkansas, a life insurer must maintain C
records for all replacement policies for 2 years
how many years?
A copy of the memorandum must be furnished to the existing insurer, and to the
A company represented by the agent, which must retain the copy for 5 years.
5 years
B
10 years
C
2 years
D
1 year
3/17
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur mbitheeunice2015. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour €9,77. Vous n'êtes lié à rien après votre achat.
Peut-on faire confiance à Stuvia ?
4.6 étoiles sur Google & Trustpilot (+1000 avis)
80796 résumés ont été vendus ces 30 derniers jours
Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans