DC INSURANCE REGULATIONS EXAM
2025|170 QUESTIONS WITH ACCURATE
SOLUTIONS
1. What are the penalties for geographic discrimination in Washington, D.C.
insurance regulations?
Mandatory community service
$500 fine
$300 or imprisonment for up to 10 days or both for each offense
Suspension of license
2. What is the minimum death benefit requirement for a scheduled premium
variable life policy?
The total premiums paid
The policy's initial face amount
The average market value
The minimum state requirement
3. G, an insurance producer, has been found guilty of misrepresentation.
What possible fines may be assessed?
$250 to $1,000
$250 to $5,000
$100 to $5,000
$100 to $1,000
4. Describe the significance of the Commissioner's ability to conduct
,investigations within the insurance regulatory framework.
The Commissioner's ability to conduct investigations ensures
compliance with regulations and protects consumers.
, Investigations are primarily for the purpose of licensing new
insurance producers.
The Commissioner conducts investigations to increase insurance
premiums.
The Commissioner conducts investigations to promote
competition among insurers.
5. If a company receives a notice of proposed revocation of its certificate
of authority, what steps should it take to prepare for the potential
suspension?
Request an extension of the notice period without justification.
Ignore the notice and continue operations as usual.
Immediately cease all business activities.
Review the grounds for revocation and prepare a response
within the notice period.
6. Summarize the key components that must be included in the annual
report sent to policyholders by an insurer.
The report must only include the total amount of premiums paid
by the policyholder.
The report must include accurate statements of benefits and
payments, an explanation of changes in cash value, a summary
of the last annual financial statement, and warnings about
charges exceeding available amounts.
The report must focus solely on the investment strategies of the
insurer.
The report must detail the insurer's overall financial health without
specifics on individual policies.
, 7. What is the deadline for completing continuing education without facing
a $200 penalty?
expires
June 30 of the year in which the license
June 30 every year
April 30 of the year in which the license expires
March 15 of the year in which the license expires
8. Describe the significance of the incontestability provision in insurance
policies.
The incontestability provision mandates that insurers must
increase death benefits every 2 years.
The incontestability provision requires policyholders to renew
their policies every 2 years.
The incontestability provision allows insurers to change policy
terms after 2 years.
The incontestability provision protects policyholders by
ensuring that after a policy has been in force for 2 years, the
insurer cannot contest its validity.
9. Describe the steps required for the reinstatement of an insurance
producer's license in Washington, D.C.
Filing an application, paying fees, and submitting proof of
completion of continuing education requirements.
Filing an application and waiting for approval without any fees.
Submitting proof of insurance claims and paying a fine.
Only paying the fees and submitting proof of continuing
education.
2025|170 QUESTIONS WITH ACCURATE
SOLUTIONS
1. What are the penalties for geographic discrimination in Washington, D.C.
insurance regulations?
Mandatory community service
$500 fine
$300 or imprisonment for up to 10 days or both for each offense
Suspension of license
2. What is the minimum death benefit requirement for a scheduled premium
variable life policy?
The total premiums paid
The policy's initial face amount
The average market value
The minimum state requirement
3. G, an insurance producer, has been found guilty of misrepresentation.
What possible fines may be assessed?
$250 to $1,000
$250 to $5,000
$100 to $5,000
$100 to $1,000
4. Describe the significance of the Commissioner's ability to conduct
,investigations within the insurance regulatory framework.
The Commissioner's ability to conduct investigations ensures
compliance with regulations and protects consumers.
, Investigations are primarily for the purpose of licensing new
insurance producers.
The Commissioner conducts investigations to increase insurance
premiums.
The Commissioner conducts investigations to promote
competition among insurers.
5. If a company receives a notice of proposed revocation of its certificate
of authority, what steps should it take to prepare for the potential
suspension?
Request an extension of the notice period without justification.
Ignore the notice and continue operations as usual.
Immediately cease all business activities.
Review the grounds for revocation and prepare a response
within the notice period.
6. Summarize the key components that must be included in the annual
report sent to policyholders by an insurer.
The report must only include the total amount of premiums paid
by the policyholder.
The report must include accurate statements of benefits and
payments, an explanation of changes in cash value, a summary
of the last annual financial statement, and warnings about
charges exceeding available amounts.
The report must focus solely on the investment strategies of the
insurer.
The report must detail the insurer's overall financial health without
specifics on individual policies.
, 7. What is the deadline for completing continuing education without facing
a $200 penalty?
expires
June 30 of the year in which the license
June 30 every year
April 30 of the year in which the license expires
March 15 of the year in which the license expires
8. Describe the significance of the incontestability provision in insurance
policies.
The incontestability provision mandates that insurers must
increase death benefits every 2 years.
The incontestability provision requires policyholders to renew
their policies every 2 years.
The incontestability provision allows insurers to change policy
terms after 2 years.
The incontestability provision protects policyholders by
ensuring that after a policy has been in force for 2 years, the
insurer cannot contest its validity.
9. Describe the steps required for the reinstatement of an insurance
producer's license in Washington, D.C.
Filing an application, paying fees, and submitting proof of
completion of continuing education requirements.
Filing an application and waiting for approval without any fees.
Submitting proof of insurance claims and paying a fine.
Only paying the fees and submitting proof of continuing
education.
