WA State Laws and Regulations for Life and Disability Insurance Accurate 100%.

The comissioner serves a term of __ years. - ANSWER 4 The Commissioner must execute a bond of $_____ per year. - ANSWER 25,000 The commissioner must examine each insurer at least every ___ years. - ANSWER 5 ___ day's notice required for the Commissioner to suspend or revoke a license. - ANSWER 15 Suspension or revocation is effective no less than ___ days after a hearing. - ANSWER 10 ___ days' notice to temporarily suspend a license, if emergency action is needed. - ANSWER 3 maximum length of license suspension - ANSWER 12 months Persons violating any provision will be fined up to $___. - ANSWER 1,000 Civil penalty for persons knowingly engaging in insurance activities without a license is $_____. - ANSWER 25,000 ___ days is needed from licensees time to notify the Commissioner of address change. - ANSWER 30 A surplus lines affidavit must be filed with the Commissioner within ___ days after the insurance transaction. - ANSWER 60 Washington Life and Disability Guaranty Association (protects insureds from impaired or insolvent insurers) limit is $___. - ANSWER 500,000 Applicant needs to be at least ___ years old. - ANSWER 18 A temporary insurance producer license may be issued for up to ___ days. - ANSWER 180 A nonresident producer must file a change of address within ___ days. - ANSWER 30 Appointment: Days from the agency contract date, or the date that the first insurance application is submitted than an insurer must file a notice of appointment is ____ days. - ANSWER 15 Appointment: