Missouri laws rules - Study guides, Class notes & Summaries

cease and desist - ANSWERto stop and discontinue commission - ANSWERpayment to the agent by the insurance company for placing insurance, usually a percentage of the policy premium Exempt - ANSWERnot subject to an obligation Home state - ANSWERinsurer's headquarters, principal place of business Inducement - ANSWERan offer that attempts to influence the other party Moral turpitude - ANSWERconduct that is contrary to community standards of justice, honesty or good morals Reciproc...

Missouri Property and Casualty State Laws Verified Solutions Regulation and Oversight - National Association of Insurance Commissioners (NAIC): Writes rules and statutes for the legislature. - Director of the Department of Insurance: - Appointed by the Governor with Senate advice and consent. - Acts primarily as a policyholder with regard to insurance companies. - Full authority includes regulating the insurance department, interpreting laws, and examining insurers' records. - Powers of th...

MO Real Estate Exam Practice Questions and Answers Mo Statute 339 - Correct Answer ️️ -License Law RSMO 1986 License Law - Correct Answer ️️ -Any person who performs a RE service on behalf of another party for CONSIDERATION must be licensed; i.e. broker transactions, managing property, appraising, counseling, syndicating, auctioning Consideration - Correct Answer ️️ -Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects...

Chapter Exam - Missouri Laws & Rules 100%Verified

Common Law - Rules are not written down. The Law used by the United States. Civil Law - The most common out of the System of Laws. Has specific rules and regulations and is more strucured. Used by 150 countries. Criminal Law (plaintiff v. defendant) - Where the plaintiff is the government and the defendent is the criminal. Civil Law (plaintiff v. defendant) - Where the plaintiff is the victim (normally wants money) and the defendant is the wrong doer. Burden of Proof (cri...

P&C Chapter 5 - Missouri Statutes, Rules and Regulations Common to All Lines Director of Insurance and Related Regulations - Director of Insurance : The chief officer of the Department of Insurance and Professional Registration, appointed by the governor with Senate consent. The director cannot be affiliated with an insurance company as an officer, agent, or employee, except as a policyholder. Must be a citizen of Missouri with insurance experience. - Director's Powers : - Regulate th...

A health insurance policy application may ONLY be altered with the written consent of the -ANSWER Applicant All of these statements concerning a licensee's responsibility for premiums received are true EXCEPT -ANSWER The licensee shall hold them in a fiduciary capacity before transmitting them to the insurance company In order to terminate a producer's appointment, the insurer MUST -ANSWER Send a notice of the termination to the Director Health insurance plans that cover physical ther...

Chapter Exam - Missouri Laws & Rules 100%Verified(RATED A)

MO Real Estate Exam Practice Questions and Answers Rated A Mo Statute 339 License Law RSMO 1986 License Law Any person who performs a RE service on behalf of another party for CONSIDERATION must be licensed; i.e. broker transactions, managing property, appraising, counseling, syndicating, auctioning Consideration Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects to be paid (Vital in license law requirement) MO Real Estate Commissio...

Which of the following is not a penalty for refusing to testify in a department hearing? -ANSWER The circuit court may impose a civil penalty up to 50,000 for each violation Which of the following is NOT a duty of the director of insurance? -ANSWER does not create insurance laws, instead has authority to make any rules necessary to enforce the laws of their state. If disciplinary action against a producer resulted in monetary relief of 200 or less, the producers record will be expunged aft...