WA Law Rules and Regulations Test | Verified Questions & Correct Solution

WA LAWS AND RULES AND s s s s sS s s s s s s s s s s sS s s s s s sS s sS s




REGULATIONS TEST WITH sS sS s s s s sS s s s s s sS




WASHINGTON RULES AND s s sS s s s s s s s s sS




REGULATIONS TESTS MUST
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KNOWS…. s




Insurance bProducer b- bcorrect banswer-A bperson brequired bto bbe blicensed bunder bthe ss ss ss ss ss ss ss ss ss ss ss




blaws bof bthis bstate bto bsell, bsolicit, bor bnegotiate binsurance.
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How blong bmust ban binsurance bproducer bmaintain binsurance btransaction brecords? b-
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bcorrect banswer-five byears
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Immediate brevocation b(without ba bhearing) bof bany binsurance blicense bis ballowed ss ss ss ss ss ss ss ss ss ss




bupon b- bcorrect banswer-The bsentencing bof bthe blicensee bfor bconviction bof ba
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bfelony, bbut bonly bif bthe bfacts bof bthe bconviction bdemonstrate bthe blicensee bto bbe
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buntrustworthy.
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For ba blicensed bproducer bto bsell binsurance bcontracts bfor ban binsurance bcompany,
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bthe bproducer bmust b- bcorrect banswer-be bappointed bby bthat binsurance bcompany.
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Which bof bthe bfollowing bis ban bINCORRECT bstatement bregarding bthe bWashington
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bSeparate bAccount blaw? b- bcorrect banswer-A bproducer bmay buse bthe baccount bfor
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bpersonal bfunds.
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A bproducer bwho bknowingly bover bcharges bpremiums bto ba bconsumer bis bguilty bof b-
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bcorrect banswer-Illegal bDealings bin bPremiums
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Insurance bProducers bare bconsidered bto bhave bfiduciary bresponsibilities bbecause ss ss ss ss ss ss ss ss




bthey b- bcorrect banswer-have bresponsibilities bfor bthe bmoney band bfinancial baffairs
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bof bothers.
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Insurance bcompanies bmust bkeep btheir btransaction brecords bfor ba bperiod bof ss ss ss ss ss ss ss ss ss ss




b__________ byears. b- bcorrect banswer-3
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commissioner bin bWashington bresponsible bfor b- bcorrect banswer--Approving brates ss ss ss ss ss ss ss ss




bcharged bto bthe bconsumer
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-Forms bused bby bthe binsurance bcompanies. ss ss ss ss ss




-Sets bthe brules band bconduct bwhich ban bagent bmust buse bwhen bdoing bbusiness
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bwith ba bconsumer
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, When ba bbonding bcompany bor binsurance bcompany bissues ba bbond, bit brepresents b-
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bcorrect banswer-acceptance bby bthe bissuing bcompany.
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The bapplication bsubmitted bto ba bbonding bcompany brepresents bthe b- bcorrect
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banswer-an boffer bfor bcoverage bor bprotection.
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A blife bproducer bgives b$50 bback bto bthe bpolicy bowner bfor blife binsurance bafter bthe
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bpolicy bissues bas ba bthank byou bfor bpurchasing binsurance. bThe blife bproducer bis
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bguilty bof__________. b- bcorrect banswer-Illegal bRebating
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If ban binsurance blicense bis brenewed bAFTER b60 bdays bof bthe bbirth bdate bof bthe
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blicensee b__________ b- bcorrect banswer--the blicense bmust bbe breinstated.
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-all bassociated bappointments band baffiliations bare bterminated.
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-the bindividual bmust balso bcomplete ban bapplication bfor breinstatement band bpay bthe
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blicense bfee band b200% bsurcharge.
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If ban bindividual btries bto breinstate bhis binsurance blicense bOVER bONE bYEAR bfrom
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bthe btermination bdate bof bthe blicense, bthe bproducer b- bcorrect banswer-will bhave bto
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bbegin bthe bentire blicensing bprocess bagain, bre-taking ball bapplicable blicensing
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bexams, bnew bfingerprint bcard band bre-apply bwith bthe bstate.
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Every binsurance bproducer bshall bpromptly breply bin bwriting bto ban binquiry bof bthe
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bcommissioner brelative bto bthe bbusiness bof binsurance. bA btimely bresponse bis bone
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bthat bis breceived bby bthe bcommissioner bwithin b__________ bfrom breceipt bof bthe
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binquiry. b- bcorrect banswer-fifteen bbusiness bdays
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Which bof bthe bfollowing bis btrue babout ban binsurance bcontract? b- bcorrect banswer--
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bIn border bfor ba bcontract bto bbe blegal, bit bmust bbe bfor blegal bpurposes bonly.
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-A bcontract bdoes bnot bcover bintentional bor bcriminal bacts bof bthe binsured.
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-An binsurance bcompany bmay bcancel ba bpolicy bor bbond band bdeny ba bclaim bdue bto
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bfraud bcommitted bby bthe binsured bor bprincipal bagainst bthe binsurance bcompany bor
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bbonding bcompany.
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A bSurety bProducer bmust balways b- bcorrect banswer-serve bthe bbest binterest bof bthe
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bpublic.
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For bany bcontract bto bbe blegal bit bmust bbe b- bcorrect banswer-for blegal bpurposes
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bonly.
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Which bof bthe bfollowing bis btrue bregarding bthe bcancellation bof ban bappointment
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bbetween ba bproducer band bthe binsurance bcompany? b- bcorrect banswer--An binsurer
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bmay bterminate ban bappointment bby bsending bwritten bnotice bof btermination bto bthe
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bproducer band bto bthe bCommissioner.
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- bA bproducer bmay bterminate ban bappointment bby bsending badvance bwritten bnotice
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bto bthe binsurance bcompany band bthe bCommissioner.
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-If ban binsurer bterminates bthe bappointment bof ba bproducer bFOR bCAUSE, bthe
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binsurer bmust bnotify bthe bInsurance bCommissioner bwithin b30 bdays bfollowing bthe
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beffective bdate bof bthe btermination.
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