Laws and Rules Pertinent to Insurance Questions and Answers Already Passed

Laws and Rules Pertinent to Insurance Questions and Answers Already Passed A form of medical health insurance covering the treatment and care of gum disease is called: Medicaid Major Medical Franchise health policy Dental expense insurance Dental expense insurance In South Carolina, what is the MAXIMUM length of time an insurer can defer payment of a cash surrender value of an annuity? 6 months 12 months 18 months 24 months 6 months When can a policy no longer be cancelled for nonfraudulent misstatements after its date of issue? 1 year 2 years 5 years At any time 2 years Which of the following is NOT an example of inducement to purchase insurance? A promise of employment A gift having a value less than $25 A special favor in the payment of premiums Giving merchandise to a client with a value of $100 A gift having a value less than $25 The Director MUST examine domestic insurers AT LEAST once every: year 3 years 5 years 7 years 5 years An insurer may refuse to issue a policy to a particular insurance applicant for a reason based solely on: medical condition race gender creed medical condition Mary is issued an initial producer's license on April 29, 2012. Her birthdate is March 14, 1980. When does her license renew? March 31, 2013 April 29, 2013 March 31, 2014 April 29, 2014 March 31, 2014 An insurance producer CANNOT act as an agent of an insurer until the insurance producer becomes: licensed designated responsible producer a member of the National Association of Insurance Commissioners (NAIC) appointed by the insurer appointed by the insurer A policy illustration given at time of sale does NOT typically include the: cash value of the policy names of the beneficiary effective interest rate for policy loans 10th and 20th year cost surrender value Names of the beneficiary Someone who sells, solicits, or negotiates insurance