Contestability Study guides, Revision notes & Summaries

Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...

CISSP Exam Questions (1,341 terms) with Correct Solutions 2024. Contains terms like; Accountability Principle - Answer: OECD Privacy Guideline principle which states individuals should have the right to challenge the content of any personal data being held, and have a process for updating their personal data if found to be inaccurate or incomplete

Agent Thompson received a letter from the Department of Insurance asking her to provide proof of completing the continuing education requirements. Within how many days must Agent Thompson respond to the Department's inquiry? 20 30 10 45 - ANSWER-10 days Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrende...

CISSP Exam Questions (1,341 terms) with Correct Solutions 2024. Contains terms like; Accountability Principle - Answer: OECD Privacy Guideline principle which states individuals should have the right to challenge the content of any personal data being held, and have a process for updating their personal data if found to be inaccurate or incomplete

Final Exam - Michigan Life and Health Part 2 Questions and Answers Already Passed The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within ___ days. 10 20 30 40 30 Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? $0 $5,000 $10,000 $15,000 $10,000 Which of these...

The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within ___ days. 10 20 30 40 - Answer-30 Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? $0 $5,000 $10,000 $15,000 - Answer-$10,000 Which of these factors is NOT taken into consideration when determining the cost of a long-term care ...

MA Producer Life Insurance Exam Prep Questions and Answers Already Passed Which of the following is an example of an unauthorized insurance company in Illinois? Company C, a Florida-based company that does not hold a certificate of authority Illinois but whose products are approved by the Illinois insurance department Company D, a Canadian company that holds a certificate of authority in Illinois Company B, an Iowa-based company that does not hold a certificate of authority in Illinois a...

Michigan Life and Health Part 2 Final Exam Questions And Answers (Verified And Updated) The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within ___ days. 10 20 30 40 - answer30 Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? $0 $5,000 $10,000 $15,000 - answer$10,000 Which of the...

Pennsylvania Laws and Rules Chapter 12 Questions and Answers Already Passed What is the purpose of the Pennsylvania Life and Health Insurance Guaranty Association? 1) Assist an applicant choose the best insurer 2) Assist an applicant choose the right amount of coverage 3) Provide each policyowner a buyer's guide and policy summary 4) Provide policyowner protection if an insurer becomes insolvent Provide policyowner protection if an insurer becomes insolvent Viatical settlement br...

Georgia Laws and Rules Exam Questions and Answers 100% Pass J is an agent who recently told a claimant that his rights might be impaired if he does not complete a release form within a specified time. What could this agent be found guilty of? - Correct Answer ️️ -Coercion All agents licensed less than 20 Years are required to complete ___ continuing education hours every two years, - Correct Answer ️️ -24 In Georgia, most life insurance policies have a contestability period of - C...