Alaska Property Insurance Exam Questions and Answers

An Insurance Binder may be issued for a maximum of how many days 90 days An Insurance licensee may not enter into agreement to Get a pay of commission or compensation to a person or organization not licensed, and or anything of value example a vacation or dinner. The person responsible for firms adherence to the insurance statutes and regulations of Alaska is? A designated licensed officer or partner (Compliance officer) Ocean Marine insurance differs from Inland marine insurance why? If it's going internationally, then it would be covered under ocean marine, if it's being shipped domestically, then it would be inland marine. An Insurance company must assume which of the following responsibilities to terminate a producers license appointment for cause A notice of termination that states the reasons must be mailed at least 10 days before eff. Of termination The portion of the insurance policy listing company promises is The insuring agreement An insurance RISK can best be described as When a person purchases insurance, the risks he might face include storm damage, fire, theft or car accident The named insured is listed in which sections of the property policy? The declarations section What is Direct Loss? Living room furniture destroyed in a fire originating in a kitchen is a direct loss. Define Twisting Illegal activity in which an agent convinces a prospect to cancel existing insurance and buy another policy from the agent to detriment of the prospect Property insurance law brokers are permitted to do all of the following an individual who represents the insured , not the insurer and acts on the best interest of the insured When an applicant is denied a producers license and requests a hearing the director of insurance must grant a hearing in how many days? 30 days