WASHINGTON LAWS AND RULES PERTINENT TO INSURANCE
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1. Which of the following state entities is headed by an elected official who
serves a four-year term and is charged with enforcing and executing the
insurance laws of Washington?
A. The Office of the Insurance Commissioner (OIC)
B. The Washington State Insurance Senate Committee
C. The Department of Financial Institutions
D. The Washington Insurance Guaranty Association
The Office of the Insurance Commissioner (OIC) is led by the Insurance
Commissioner, who is elected by the citizens of Washington to a four-year term.
The Commissioner is vested with the authority to enforce and execute the state's
insurance code, protect consumers, and regulate the insurance market.
2. An insurer in Washington receives a formal inquiry from the Insurance
Commissioner regarding a consumer complaint. Within how many business
days must the insurer provide a complete and accurate response to the
Commissioner?
A. 10 business days
B. 15 business days
C. 20 business days
D. 30 business days
Under Washington Administrative Code (WAC 284-30-650), any lack of
response to an inquiry from the Insurance Commissioner within 15 business
days from receipt will be considered untimely. The response must be in writing.
, 3. A licensed producer in Washington moves their primary residential address
from Seattle to Bellevue. Within how many days of this change must the
producer notify the Insurance Commissioner?
A. 10 days
B. 15 days
C. 30 days
D. 45 days
Washington law requires all insurance licensees to notify the Office of the
Insurance Commissioner of any change in their residential, business, email, or
telephone address within 30 days of the change. Failure to provide timely notice
may result in administrative penalties.
4. An applicant for a resident insurance producer license in Washington must
meet several criteria. Which of the following is NOT a mandatory
requirement for licensure?
A. Being at least 18 years of age
B. Having a high school diploma or equivalent
C. Passing the state licensing examination for the desired line of authority
D. Submitting fingerprints for a criminal background check
Washington insurance regulations specify that an applicant must be at least 18
years of age, pass the state licensing exam, pay the required fees, and submit
fingerprints for a criminal history check. Holding a high school diploma or
equivalent is not a statutory prerequisite for holding a resident insurance
producer license.
5. If an insurance producer's license is suspended or revoked by the
Commissioner, when does the revocation or suspension order generally take
effect?
A. Immediately upon the Commissioner's verbal announcement
EXAM – QUESTIONS AND ANSWERS | VERIFIED AND WELL
DETAILED ANSWERS PLUS RATIONALES | GUARANTEED PASS |
LATEST EXAM UPDATE | EXAM PREP | STUDY GUIDE |
PRACTICE TEST| DOWNLOAD INSTANT PDF
1. Which of the following state entities is headed by an elected official who
serves a four-year term and is charged with enforcing and executing the
insurance laws of Washington?
A. The Office of the Insurance Commissioner (OIC)
B. The Washington State Insurance Senate Committee
C. The Department of Financial Institutions
D. The Washington Insurance Guaranty Association
The Office of the Insurance Commissioner (OIC) is led by the Insurance
Commissioner, who is elected by the citizens of Washington to a four-year term.
The Commissioner is vested with the authority to enforce and execute the state's
insurance code, protect consumers, and regulate the insurance market.
2. An insurer in Washington receives a formal inquiry from the Insurance
Commissioner regarding a consumer complaint. Within how many business
days must the insurer provide a complete and accurate response to the
Commissioner?
A. 10 business days
B. 15 business days
C. 20 business days
D. 30 business days
Under Washington Administrative Code (WAC 284-30-650), any lack of
response to an inquiry from the Insurance Commissioner within 15 business
days from receipt will be considered untimely. The response must be in writing.
, 3. A licensed producer in Washington moves their primary residential address
from Seattle to Bellevue. Within how many days of this change must the
producer notify the Insurance Commissioner?
A. 10 days
B. 15 days
C. 30 days
D. 45 days
Washington law requires all insurance licensees to notify the Office of the
Insurance Commissioner of any change in their residential, business, email, or
telephone address within 30 days of the change. Failure to provide timely notice
may result in administrative penalties.
4. An applicant for a resident insurance producer license in Washington must
meet several criteria. Which of the following is NOT a mandatory
requirement for licensure?
A. Being at least 18 years of age
B. Having a high school diploma or equivalent
C. Passing the state licensing examination for the desired line of authority
D. Submitting fingerprints for a criminal background check
Washington insurance regulations specify that an applicant must be at least 18
years of age, pass the state licensing exam, pay the required fees, and submit
fingerprints for a criminal history check. Holding a high school diploma or
equivalent is not a statutory prerequisite for holding a resident insurance
producer license.
5. If an insurance producer's license is suspended or revoked by the
Commissioner, when does the revocation or suspension order generally take
effect?
A. Immediately upon the Commissioner's verbal announcement
