WA Laws and Rules With correct answers

Insurance Producer - correct ans----A person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. How long must an insurance producer maintain insurance transaction records? - correct ans----five years Immediate revocation (without a hearing) of any insurance license is allowed upon - correct ans----The sentencing of the licensee for conviction of a felony, but only if the facts of the conviction demonstrate the licensee to be untrustworthy. For a licensed producer to sell insurance contracts for an insurance company, the producer must - correct ans----be appointed by that insurance company. Which of the following is an INCORRECT statement regarding the Washington Separate Account law? - correct ans----A producer may use the account for personal funds. A producer who knowingly over charges premiums to a consumer is guilty of - correct ans----Illegal Dealings in Premiums Insurance Producers are considered to have fiduciary responsibilities because they - correct ans----have responsibilities for the money and financial affairs of others. Insurance companies must keep their transaction records for a period of __________ years. - correct ans----3 commissioner in Washington responsible for - correct ans-----Approving rates charged to the consumer