Idaho State Life Insurance (100% verified)

Twisting correct answers A form of misrepresentation in which an agent persuades an insured/owner to cancel, lapse, or switch policies, even when it's to the insured's disadvantage. Credit Life Policy correct answers Term Life policy w/ decreasing death benefit; usually used to secure credit (loan) w/ lender as beneficiary & borrower as Insured. Can a Producer pay a client's premium? correct answers This is legal only if the Producer collects reasonable interest from the client. Required notice for a Director to revoke a Producer's license correct answers 20 days Notification of address change correct answers Producer must notify within 30 days. Director may fine anyone transacting insurance without a license how much? correct answers Up to $15,000 Who can an Idaho Producer share commission with? correct answers Another producer with the same license. Within how many days of signing can a policy owner rescind on a life settlement? correct answers 20 days An Insurer terminating an assignment must notify the Director of Insurance within how many days? correct answers 30 days Insurance company issues an appointment, notification to Director of Insurance within how many days? correct answers 15 days A creditor's group policy cannot exceed? correct answers $150,000 What Producer does not have to pass the Idaho insurance licensing exam? correct answers Limited Lines Producers What type of certification must a Third Party Administrator (TPA) have? correct answers Registration How long is the term of an appoinment? correct answers Until the license is terminated. Who can revoke a Producer's License? correct answers Director of Insurance How many continuing ed hours are required to cover insurance or ethics? correct answers 3 hours