L/A/H Insurance . Ch17.Life, Accident, & Health Law, Regulation and Ethics . Questions with complete solutions

Which of the following is a FALSE Statement concerning the CC of Insurance? A. The commissioner conducts hearings to determine B. The commissioner determines insurance company reserve amounts C. The commissioner appoints insurance examiners D. The commissioner is appointed by the governor - ANSWER-D Which of the following statements is FALSE regarding the California Insurance Commissioner and/or the insurance department? A. New insurance laws become effective January 1st of each year B. Revised, amended or new laws are created by the California state legislative body. C. Amended codes are created by the California Department of Insurance D. The primary purpose of the code is to protect the insurance buying public. - ANSWER-C The CDI has jurisdiction over all of the following entities EXCEPT: A. Domestic HMO B. California Life Agents C. Major Medical plans approved band delivered in California D. Medicare - ANSWER-D What did passage of the McCarran-Ferguson Act accomplish with respect to the regulation of the insurance industry? A. It ensured continued state regulation of insurance B. It taxed insurance companies for additional federal revenue C. It deemed insurance a form of interstate commerce D. It exempted insurance from all federal government regulation and taxation - ANSWER-A