Idaho statutes, rules, and regulations common to all lines latest updated 2024

Idaho statutes, rules, and regulations common to all lines latest updated 2024 When an insurance agency published an advertising brochure, it emphasized the company's financial stability and sound business practices. In reality, it's financial health is terrible, and the company will soon have to file for bankruptcy. Which of the following terms best describes the advertisement? - Correct Answer False financial statement A producer has completed 30 hours of continuing education for the current licensing period. That six hours in excess of the required minimum. How many hours may the producer carryover for the next licensing.? - Correct Answer Zero hours CE hours cannot be carried over All of the following could be considered rebates if offered to an insured in the sale of insurance except - Correct Answer Dividends from a mutual insurer. An individual currently licensed in South Carolina just moved to Idaho. In order to avoid a pre-licensing examination, how soon after establishing legal residence should she apply for a resident license? - Correct Answer 90 days If an insurance premium is paid by the policy owner to the agent, and the agent fails to remit that premium to the insurer, which of the following statements is true? - Correct Answer The policy will not lapse since payment to the agent is the same as a payment to the insurer. Any licensed person whose activities affect interstate commerce and who knowingly makes false material statements related to the business of insurance may be imprisoned for up to - Correct Answer 10 years If an applicant for an insurance producer license has been denied licensing, how long must the applicant wait to reply to a license? - Correct Answer 1 year After an insurer receives an itemized bill related to a valid motor vehicle policy claim, it must be paid within - Correct Answer 20 days An agreement that is enforceable by law is known as a(n) - Correct Answer Legal Contract