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The Director is empowered to - ANSWER-enforce state laws relating to insurance Someone who sells, solicits, or negotiates insurance contracts for compensation on behalf of an insurer is called? - ANSWER-an insurance provider The PRIMARY purpose of the Fair Credit and Reporting Act is to - ANSWER-protect consumers with guidelines regarding credit reporting and distribution In south Carolina, what is the maximum length of time an insurer can defer payment of a cash surrender value of annuity? - ANSWER-6 months An insurance producer cannot act as an agent of an insurer until the insurance producer becomes - ANSWER-appointed by the insurer A producer offers a $50 handbag in exchange for the purchase of an insurance policy. The producer woul be considered to have commited which prohibited sales practice? - ANSWER-Rebating Making a statement that is false or maliciously critical of the financial condition of an insurer is known as - ANSWER-defamation Which one of the following statements regarding an examination of an insurer's books and records by the Director is TRUE? - ANSWER-The insurer must not impede an examination and is required to assist in the examination process According to the South Carolina Code, when an insurance license changes his or her address, who MUST be notified? - ANSWER-The department of Insurance