Questions and Answers (Solved Papers)
Term year that is appointed to The Commissioner - Correct
Answers ✅5 years
Unfair claims settlement: after receiving notice of a claim,
must acknowledge within - Correct Answers ✅10 working
days
Once a settlement has been reached, claim must be paid in -
Correct Answers ✅5 working days
Lapsed producer's license may be reinstated within - Correct
Answers ✅24 months
Defamation - Correct Answers ✅making any statement
that is false of the financial condition of an insurance
company
Coercion - Correct Answers ✅forcing a person to buy
insurance through a particular company
Rebating - Correct Answers ✅offering valuable
consideration as an inducement to purchase a policy is illegal
How many days must a insured return a premium after being
instructed to do so? - Correct Answers ✅15 days