DISTRICT OF COLUMBIA RULES &
REGULATIONS FLASHCARDS
QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS 100%
CORRECT RATED A+
Q1: What is considered the purpose of the Guaranty Association?
Answer:
✔✔ Protect insureds from insolvent insurers ✔✔
Q2: What is an insurance company called that has qualified and received a
Certificate of Authority from the Department of Insurance to sell insurance in this
state?
Answer:
✔✔ Authorized insurer ✔✔
Q3: Replacing an insurance policy from one insurer to another based on
misrepresentation is called what?
Answer:
✔✔ Twisting ✔✔
Q4: An insurance company that is owned and controlled by stockholders is called
what type of company?
Answer:
✔✔ Stock insurance company ✔✔
Q5: Making an oral or written statement intended to injure a person engaged in the
insurance business is known as?
Answer:
✔✔ Defamation ✔✔
, Any inducement offered to the insured in the sale of insurance products that is not
specified in the policy is called:
"Rebating"
Before a licensed is issued, a person must be how old?
"18 years old"
A person who is not a legal resident of this state may be licensed to act in this state
without taking a written examination. What kind of license would this be?
"Nonresident"
The Commissioner of Insurance along with the Department of Insurance are
responsible for:
"Administering DC’s insurance laws"
A person required to be licensed pursuant to the laws of this state to sell, solicit or
negotiate insurance is called a(n):
REGULATIONS FLASHCARDS
QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS 100%
CORRECT RATED A+
Q1: What is considered the purpose of the Guaranty Association?
Answer:
✔✔ Protect insureds from insolvent insurers ✔✔
Q2: What is an insurance company called that has qualified and received a
Certificate of Authority from the Department of Insurance to sell insurance in this
state?
Answer:
✔✔ Authorized insurer ✔✔
Q3: Replacing an insurance policy from one insurer to another based on
misrepresentation is called what?
Answer:
✔✔ Twisting ✔✔
Q4: An insurance company that is owned and controlled by stockholders is called
what type of company?
Answer:
✔✔ Stock insurance company ✔✔
Q5: Making an oral or written statement intended to injure a person engaged in the
insurance business is known as?
Answer:
✔✔ Defamation ✔✔
, Any inducement offered to the insured in the sale of insurance products that is not
specified in the policy is called:
"Rebating"
Before a licensed is issued, a person must be how old?
"18 years old"
A person who is not a legal resident of this state may be licensed to act in this state
without taking a written examination. What kind of license would this be?
"Nonresident"
The Commissioner of Insurance along with the Department of Insurance are
responsible for:
"Administering DC’s insurance laws"
A person required to be licensed pursuant to the laws of this state to sell, solicit or
negotiate insurance is called a(n):
