Part 1: Utah Property and Casualty Law Supplement (Well-enlightened)

The powers of the Insurance Commissioner include all of the following EXCEPT: A) making insurance laws. B) conducting hearings. C) conducting examinations of insurers and individuals. D) issuing certificates of authority and licenses. correct answers Answer: A The state legislature is responsible for making insurance laws. The Commissioner is responsible for enforcing them. In addition to any other forfeiture or penalty imposed, a person who violates an insurance rule or statute must: A) surrender her license to the Commissioner. B) pay twice the amount of any profits made from the violation. C) forfeit all profits made from the violation. D) spend up to one year in jail. correct answers Answer: B Anyone who violates an insurance statute, rule, or order issued by the Commissioner must pay the state twice the amount of any profit gained by the violation. An individual applicant for an insurance agent's license must be at least: A) 18 years of age. B) 21 years of age. C) 24 years of age. D) 25 years of age. correct answers Answer: A Applicants for producer licenses must prove to the Commissioner that they are at least 18 years old Which one of the following statements regarding the use of aftermarket parts in the repair of an insured vehicle is CORRECT? A) Aftermarket parts may only be used if they are less expensive than original parts. B) Aftermarket parts may be used only if original parts are not available. C) Use of aftermarket parts must be disclosed to an insured prior to making repairs. D) It is unlawful for an insurer to use aftermarket parts when repairing a vehicle. correct answers Answer: C