Idaho Statutes, Rules, And Regulations Common to All Lines with Complete Solutions!!

All of the following could be considered rebates if offered to an insured in the sale of insurance except - ANSWER-Dividends from a mutual insurer. An individual currently licensed in South Carolina just moved to Idaho. In order to avoid a pre-licensing examination, how soon after establishing legal residence should she apply for a resident license? - ANSWER-90 days If an insurance premium is paid by the policy owner to the agent, and the agent fails to remit that premium to the insurer, which of the following statements is true? - ANSWER-The policy will not lapse since payment to the agent is the same as a payment to the insurer. Any licensed person whose activities affect interstate commerce and who knowingly makes false material statements related to the business of insurance may be imprisoned for up to - ANSWER-10 years If an applicant for an insurance producer license has been denied licensing, how long must the applicant wait to reply to a license? - ANSWER-1 year After an insurer receives an itemized bill related to a valid motor vehicle policy claim, it must be paid within - ANSWER-20 days An agreement that is enforceable by law is known as a(n) - ANSWER-Legal Contract A participating insurance policy may do which of the following? - ANSWER-Pay dividends to the policyowner. A participating insurance policy will pay dividends to the owner based upon actual mortality cost, interest earned and costs.