©THEBRIGHT 2024/2025 ALL RIGHTS RESERVED 10:15AM A+
Auto restricted part 2 extension Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass.
Is an example of a direct writer. - Answer✔Allstate
auto insurance in Saskatchewan comes in two parts. - Answer✔1. first part is compulsory and
comes with your vehicle licence plate
(It provides the minimum amount of insurance protection required by Law.)
2. second part comes in the form of an auto insurance policy
('extends' your insurance protection to more fully meet your individual needs.)
requires all insurance companies, agents, brokers, adjusters and agencies to be properly
licensed and regulated. - Answer✔Saskatchewan Insurance Act (SIA)
SIA - Answer✔Saskatchewan Insurance Act
The business of general insurance in Canada is closely regulated by - Answer✔federal and
provincial laws and their corresponding authorities.
Most insurance companies that operate in Canada are - Answer✔federally licensed
A licence is granted to those companies that meet the strict financial standards established by
the______.the insurance company is closely monitored to ensure that solvency and financial
stability are maintained. - Answer✔Office of the Superintendent of Financial Institutions (OSFI)
OSFI - Answer✔Office of the Superintendent of Financial Institution
on behalf of the federal government. OSFI's authority is granted under - Answer✔The Insurance
Companies Act of Canada
because the business of insurance is based on a - Answer✔"promise to pay claims tomorrow" in
return for the "payment of premiums today".
1
,©THEBRIGHT 2024/2025 ALL RIGHTS RESERVED 10:15AM A+
the role of the Federal Superintendent of Insurance - Answer✔1. Ensure federally licensed
insurance companies are financially solvent and able to pay claims today and into the future.
2. Ensure insurance contracts provide fair and reasonable protection to consumers.
Some insurance companies are only licensed on a provincial basis which means they fall directly
under the jurisdiction of the_____ for the province in which they operate. -
Answer✔Superintendent of Insurance
The provincial Superintendent of Insurance has similar powers to the federal Superintendent of
Insurance in exercising control over provincially licensed insurance companies. In
Saskatchewan, the Superintendent of Insurance is granted authority under the
this also authorizes the Superintendent of Insurance to license and regulate insurance agents
and adjusters in Saskatchewan. An insurance agent is anyone who serves as an intermediary
between the insurance company and the insurance customer - Answer✔Saskatchewan
Insurance Act (SIA)
the responsibility of the provincial Superintendent of Insurance - Answer✔1. Monitor the
solvency of provincially licensed insurance companies.
2. License and regulate insurance agents, brokers, adjusters and agencies.
3. Supervise the terms and conditions of insurance contracts.
role of the General Insurance Council - Answer✔1. Establish acceptable standards and practices
of marketplace conduct.
2. Investigate complaints about the conduct of agents, brokers, adjusters or agencies.
3. Impose disciplinary penalties where misconduct has been found to have occurred.
is a regulatory body that operates under a delegated authority from the Superintendent of
Insurance.
Council has been granted a specific responsibility to license and regulate the conduct of general
insurance agents (including 'restricted' insurance agents), agencies and adjusters. The Council
sets the standards for training, education, conduct, competence and proficiency in order to
promote professionalism, competence and integrity within the insurance industry -
Answer✔General Insurance Council of Saskatchewan (GICS)
General Insurance Council of Saskatchewan
2
, ©THEBRIGHT 2024/2025 ALL RIGHTS RESERVED 10:15AM A+
investigates the conduct of insurance agents and adjusters in response to complaints and
determines whether a breach of - Answer✔The Saskatchewan Insurance Act, The Saskatchewan
Insurance Council's Regulations
or the Insurance Council Bylaws has occurred.
The requirements for obtaining (and maintaining) an agent licence and the rules for agent
conduct are outlined in the - Answer✔Bylaws of the General Insurance Council of
Saskatchewan.
specifically relates to the sale of private passenger automobile insurance.
allow you to sell an auto insurance policy in addition to fulfilling your duties as a motor vehicle
licence issuer. - Answer✔Restricted Agent Licence
steps to become restricted agent - Answer✔(1)Successful completion of the SGI Issuer Training
Program; (2)Successful completion of one of the approved auto insurance training courses
specified in the Council Bylaws;
(3) Successful completion of the General Insurance Council's Bylaws exam.
which allows you to sell and service personal lines insurance, now requires the same
qualifications in automobile insurance as the Restricted Auto Licence, in addition to courses in
other type or personal lines insurance - Answer✔Level 1 agent's licence
A phrase in a legal document calling for the highest standards of integrity on the part of the
insured and the insurer. * - Answer✔Utmost good faith
Ethical behavior and managing conflicts of interest
The first priority of an agent/ broker is to the customer.
always to recommend the most suitable product for your client's needs - Answer✔Ethics
Most ordinary contracts are good faith contracts. Insurance contracts are agreements made in
the utmost good faith. This implies a standard of honesty greater than that usually required in
most ordinary commercial contracts.* - Answer✔Good Faith
The courts have recognized that insurance is unique among legal contracts. One of its unique
characteristics is the principle of ______.
In short, it means that the insured and insurer have a special relationship that's built on mutual
trust. - Answer✔uberrima fides or utmost good faith
3
Auto restricted part 2 extension Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass.
Is an example of a direct writer. - Answer✔Allstate
auto insurance in Saskatchewan comes in two parts. - Answer✔1. first part is compulsory and
comes with your vehicle licence plate
(It provides the minimum amount of insurance protection required by Law.)
2. second part comes in the form of an auto insurance policy
('extends' your insurance protection to more fully meet your individual needs.)
requires all insurance companies, agents, brokers, adjusters and agencies to be properly
licensed and regulated. - Answer✔Saskatchewan Insurance Act (SIA)
SIA - Answer✔Saskatchewan Insurance Act
The business of general insurance in Canada is closely regulated by - Answer✔federal and
provincial laws and their corresponding authorities.
Most insurance companies that operate in Canada are - Answer✔federally licensed
A licence is granted to those companies that meet the strict financial standards established by
the______.the insurance company is closely monitored to ensure that solvency and financial
stability are maintained. - Answer✔Office of the Superintendent of Financial Institutions (OSFI)
OSFI - Answer✔Office of the Superintendent of Financial Institution
on behalf of the federal government. OSFI's authority is granted under - Answer✔The Insurance
Companies Act of Canada
because the business of insurance is based on a - Answer✔"promise to pay claims tomorrow" in
return for the "payment of premiums today".
1
,©THEBRIGHT 2024/2025 ALL RIGHTS RESERVED 10:15AM A+
the role of the Federal Superintendent of Insurance - Answer✔1. Ensure federally licensed
insurance companies are financially solvent and able to pay claims today and into the future.
2. Ensure insurance contracts provide fair and reasonable protection to consumers.
Some insurance companies are only licensed on a provincial basis which means they fall directly
under the jurisdiction of the_____ for the province in which they operate. -
Answer✔Superintendent of Insurance
The provincial Superintendent of Insurance has similar powers to the federal Superintendent of
Insurance in exercising control over provincially licensed insurance companies. In
Saskatchewan, the Superintendent of Insurance is granted authority under the
this also authorizes the Superintendent of Insurance to license and regulate insurance agents
and adjusters in Saskatchewan. An insurance agent is anyone who serves as an intermediary
between the insurance company and the insurance customer - Answer✔Saskatchewan
Insurance Act (SIA)
the responsibility of the provincial Superintendent of Insurance - Answer✔1. Monitor the
solvency of provincially licensed insurance companies.
2. License and regulate insurance agents, brokers, adjusters and agencies.
3. Supervise the terms and conditions of insurance contracts.
role of the General Insurance Council - Answer✔1. Establish acceptable standards and practices
of marketplace conduct.
2. Investigate complaints about the conduct of agents, brokers, adjusters or agencies.
3. Impose disciplinary penalties where misconduct has been found to have occurred.
is a regulatory body that operates under a delegated authority from the Superintendent of
Insurance.
Council has been granted a specific responsibility to license and regulate the conduct of general
insurance agents (including 'restricted' insurance agents), agencies and adjusters. The Council
sets the standards for training, education, conduct, competence and proficiency in order to
promote professionalism, competence and integrity within the insurance industry -
Answer✔General Insurance Council of Saskatchewan (GICS)
General Insurance Council of Saskatchewan
2
, ©THEBRIGHT 2024/2025 ALL RIGHTS RESERVED 10:15AM A+
investigates the conduct of insurance agents and adjusters in response to complaints and
determines whether a breach of - Answer✔The Saskatchewan Insurance Act, The Saskatchewan
Insurance Council's Regulations
or the Insurance Council Bylaws has occurred.
The requirements for obtaining (and maintaining) an agent licence and the rules for agent
conduct are outlined in the - Answer✔Bylaws of the General Insurance Council of
Saskatchewan.
specifically relates to the sale of private passenger automobile insurance.
allow you to sell an auto insurance policy in addition to fulfilling your duties as a motor vehicle
licence issuer. - Answer✔Restricted Agent Licence
steps to become restricted agent - Answer✔(1)Successful completion of the SGI Issuer Training
Program; (2)Successful completion of one of the approved auto insurance training courses
specified in the Council Bylaws;
(3) Successful completion of the General Insurance Council's Bylaws exam.
which allows you to sell and service personal lines insurance, now requires the same
qualifications in automobile insurance as the Restricted Auto Licence, in addition to courses in
other type or personal lines insurance - Answer✔Level 1 agent's licence
A phrase in a legal document calling for the highest standards of integrity on the part of the
insured and the insurer. * - Answer✔Utmost good faith
Ethical behavior and managing conflicts of interest
The first priority of an agent/ broker is to the customer.
always to recommend the most suitable product for your client's needs - Answer✔Ethics
Most ordinary contracts are good faith contracts. Insurance contracts are agreements made in
the utmost good faith. This implies a standard of honesty greater than that usually required in
most ordinary commercial contracts.* - Answer✔Good Faith
The courts have recognized that insurance is unique among legal contracts. One of its unique
characteristics is the principle of ______.
In short, it means that the insured and insurer have a special relationship that's built on mutual
trust. - Answer✔uberrima fides or utmost good faith
3
