WASHINGTON LAWS AND RULES PERTINENT TO
INSURANCE
Violations of US Code Title 18 section 1033, may result in - Answers-Fine and/or
imprisonment
Charles is a producer who is licensed in Washington but resides in Oregon. Charles is
considered to be a(n) - Answers-Nonresident producer
Before a producer may sell, solicit, or negotiate insurance from an insurer, the producer
must have a(n) - Answers-Appointment
When a Medicare Supplement insurance policy is being replaced, who must sign the
notice of replacement? - Answers-The producer and the applicant
What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? -
Answers-12 months
No legal action can be initiated after ___ years from the initial time written proof of loss
has been provided. - Answers-3
When replacing a life insurance policy, a producer must provide the applicant with a -
Answers-Notice Regarding Replacement
A Medicare Supplement policy can be cancelled by the insurer for - Answers-
Nonpayment
A company that is chartered and organized of the state in which its home office is
located is called a(n) - Answers-Domestic insurer
An insurance company may only pay commissions to a(n) - Answers-Licensed producer
appointed by the insurer
An example of an Unfair Claims Settlement practice is - Answers-Failing to promptly
provide reasonable explanations for the denial of claims
An insurance company that has qualified and received a Certificate of Authority from the
Insurance Department to sell insurance in this state is called a(n) - Answers-Authorized
insurer
Replacement can be BEST described as - Answers-Exchanging a new policy for one
already in force
An insurer may exclude preexisting conditions on a Medicare Supplement policy for ___
months. - Answers-6
, What is the purpose of the Washington Life and Disability Insurance Guaranty
Association? - Answers-Ensures that claims filed against insolvent insurance companies
will be paid
An example of rebating is - Answers-A producer who shares commissions with a client
The required grace period for life insurance policies sold in Washington is - Answers-30
days
Kiara filled out a life insurance application and was given a policy illustration that
showed future premiums being paid out of nonguaranteed values. This illustration
MUST disclose that - Answers-She may need to resume premium payments, depending
on actual results
The act of using misrepresentation to induce an insured person to terminate an existing
policy and purchase a new policy is referred to as - Answers-Twisting
An example of an unfair claims settlement practice is - Answers-Turning down a claim
without providing the basis of denial
One role of the Commissioner is to - Answers-Enforce state insurance laws
Every producer licensed in Washington must notify the Commissioner within ___ days
of any change of the address. - Answers-30
The identity of the _____ must be made clear in every health (disability) insurance
advertisement. - Answers-Insurer
A life insurance policy becomes incontestable after it has been in force for - Answers-2
years
Advertising regulations exist to - Answers-Assure full and truthful disclosures to the
public
Which of the following is required for an insurer to conduct business in this state? -
Answers-Certificate of Authority
Which of the following is an example of a producer's fiduciary duty? - Answers-
Recording receipt and remittance of premiums due to the insurance company
The _____ is responsible for determining the appropriateness of a Medicare
Supplement policy for an applicant - Answers-Producer
Which of the following is NOT considered to be an act of "transacting insurance"? -
Answers-Gathering prospective buyer information
INSURANCE
Violations of US Code Title 18 section 1033, may result in - Answers-Fine and/or
imprisonment
Charles is a producer who is licensed in Washington but resides in Oregon. Charles is
considered to be a(n) - Answers-Nonresident producer
Before a producer may sell, solicit, or negotiate insurance from an insurer, the producer
must have a(n) - Answers-Appointment
When a Medicare Supplement insurance policy is being replaced, who must sign the
notice of replacement? - Answers-The producer and the applicant
What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? -
Answers-12 months
No legal action can be initiated after ___ years from the initial time written proof of loss
has been provided. - Answers-3
When replacing a life insurance policy, a producer must provide the applicant with a -
Answers-Notice Regarding Replacement
A Medicare Supplement policy can be cancelled by the insurer for - Answers-
Nonpayment
A company that is chartered and organized of the state in which its home office is
located is called a(n) - Answers-Domestic insurer
An insurance company may only pay commissions to a(n) - Answers-Licensed producer
appointed by the insurer
An example of an Unfair Claims Settlement practice is - Answers-Failing to promptly
provide reasonable explanations for the denial of claims
An insurance company that has qualified and received a Certificate of Authority from the
Insurance Department to sell insurance in this state is called a(n) - Answers-Authorized
insurer
Replacement can be BEST described as - Answers-Exchanging a new policy for one
already in force
An insurer may exclude preexisting conditions on a Medicare Supplement policy for ___
months. - Answers-6
, What is the purpose of the Washington Life and Disability Insurance Guaranty
Association? - Answers-Ensures that claims filed against insolvent insurance companies
will be paid
An example of rebating is - Answers-A producer who shares commissions with a client
The required grace period for life insurance policies sold in Washington is - Answers-30
days
Kiara filled out a life insurance application and was given a policy illustration that
showed future premiums being paid out of nonguaranteed values. This illustration
MUST disclose that - Answers-She may need to resume premium payments, depending
on actual results
The act of using misrepresentation to induce an insured person to terminate an existing
policy and purchase a new policy is referred to as - Answers-Twisting
An example of an unfair claims settlement practice is - Answers-Turning down a claim
without providing the basis of denial
One role of the Commissioner is to - Answers-Enforce state insurance laws
Every producer licensed in Washington must notify the Commissioner within ___ days
of any change of the address. - Answers-30
The identity of the _____ must be made clear in every health (disability) insurance
advertisement. - Answers-Insurer
A life insurance policy becomes incontestable after it has been in force for - Answers-2
years
Advertising regulations exist to - Answers-Assure full and truthful disclosures to the
public
Which of the following is required for an insurer to conduct business in this state? -
Answers-Certificate of Authority
Which of the following is an example of a producer's fiduciary duty? - Answers-
Recording receipt and remittance of premiums due to the insurance company
The _____ is responsible for determining the appropriateness of a Medicare
Supplement policy for an applicant - Answers-Producer
Which of the following is NOT considered to be an act of "transacting insurance"? -
Answers-Gathering prospective buyer information
