Idaho Insurance Questions and Answers (Graded A+)

Which of the following must have an appointment? - ANSWER-A Producer who represents an insurance company as an agent. Funds in the account payable to the Insurer must be disbursed within: - ANSWER-21 days A temporary producer license is effective for: - ANSWER-180 days. An Idaho producer wants to borrow money from a client. This is lawful: - ANSWER-If the Producer has a written loan agreement signed by both parties. Exaggerating policy terms is: - ANSWER-Misrepresentation The Settlement Provider must pay settlement proceeds to an escrow account within _____ days of receiving the executed change of ownership documents. - ANSWER-3 Tim has used his cash assets to purchase an annuity. His creditors want to seize the annuity payments. His creditors will: - ANSWER-Be able to seize annuity payments in excess of $1,250 per month. A credit life insurer may be considered to have excessive premiums unless the loss ratio is at least: - ANSWER-50% of the premiums collected. Which of the following is FALSE regarding advertisements for life settlements? - ANSWER-They cannot use paid testimonials.