Bail Exam Questions and Answers | Verified & Updated| 100% Correct

Bail Exam Questions and Answers | Verified & Updated| 100% Correct Insurance code 791. The purpose of the information and privacy protection act is to establish standards for the collection, use and disclosure of personal information gathered in connection with insurance transactions by insurance institutions, agents or insurance support organizations. What is a surety? And does the IPA apply to sureties? A surety is someone or something that promises to be responsible for another. A surety is a property and casualty insurance company or corporation that files with the California Department of Insurance to transact bail in California. True or False? The IPA applies to the transaction of bail by sureties, because bail is a private civil contract. True. Does the IPA apply to everyone or just natural persons who are a resident of California? The IPA applie to natural persons who reside in California. Does the IPA apply to independant bounty hunters or employed bounty hunters? The IPA applies only to "insurance support organizations" within the state that provide services to a property and casualty insurance surety. The IPA is meant to protect "individual" natural person's personal information in relation to an insurance transaction within the state from everyone and everything except Insurance organizations investigating false claims, insurance organizations that are determining a a natural person's eligibility for coverage, licensed medical care institutions and medical professionals, law enforcement personnel investigating crimes, California Department of Insurance personnel or its agents, and bounty hunters making or attempting to arrest bail jumpers. Pretext interviews shall not be done or authorized to be done in relation to those licensed under insurance code section 1800 except for the purpose of investigating criminal activity, fraud, material misrepresentation, and/or a material non-disclosure in connection with a claim on a reasonable basis. True or False? The licensing period for bail agents is 2 years. True. True or False? Transacting bail without a license is not illegal. False. It is a misdemeanor with a fine of up to 50,000 dollars or up to a year in jail, or that of fine and imprisonment. If an applicant makes a showing satisfactory to the commissioner by Filing supplementary documents, filing affidavits, filing statements and meeting all prerequisites, a certificate of convenience may be issued and all may result in a permanent license. True or False? Producing your social security number or FEIN for partnerships is required and not doing so shall be reported to the franchise tax board. True The Insurance Commissioner shall provide the Franchise Tax Board Licensee information by July 1st, 1987 True or False. You may have a right to a hearing if your application is denied. True The Commissioner may deny an application for any license if You are not properly qualified to perform the duties of a person holding the license applied for. The granting of the License would be against public interest. The applicant is not of good business reputation. The applicant is lacking in integrity. The applicant does not intend in good faith to carry on the transactions which would be permitted by the issuance of the license applied for. The applicant has been refused a professional, occupational or vocational license. The Commissioner may deny an applicant if that person Knowingly or willfully makes a misstatement in his or her application for a license or has a history of dishonest business practices or fraud. A person's application may be denied if the person Has been convicted of a felony, or has aided or abetted any person in obtaining a license that would otherwise have been denied. True or False?A judgement, plea or verdict of guilty or conviction following a plea of nolo contendre are each considered a conviction True. Inducing a client to co-sign, make a loan, investment, future right of survivorship, trust, or any other domestic partner benefit or trust or otherwise makes financial gain shall constitute a cause to suspend or revoke any permanent license issued. However, if the licensee is also licensed as an attorney in any state, the licensee may be made a trustee provided that he/she is not a seller of insurance to the trustor of the trust. The commissioner may deny an application or suspend or revoke a pending license or issued license of any organization and controlling person that shows incompetence or untrustworthiness, does a wrongful act during the course of business, misrepresents the terms or effect of a policy or contract, or has a criminal history. An application for any license shall be automatically denied if it is not granted within 1 year. Summary Judgement monies collected from a bail bond company, bail corporation or individual bail agent shall be divided between cities and counties, and applied towards costs incurred by county counsel or prosecuting agency attorneys for successfully opposing a motion to vacate forfeiture. Every applicant for a bail agent license shall endorse and produce Financial Authorization Disclosure records of fiduciary funds so long as the bail agent licensee is licensed by the department. While "bail agent" is not cited, a person may be appointed before licensing and after becoming a licensee with the exception of No exception. Any person may be declared an appointed agent by an insurer. When, and under what circumstance can a licensee surrender for cancelation of a license? At any time, under any circumstance. True or False? all licenses issued to natural persons shall terminate upon the death of such persons. True. In the case of entity, it will cease to exist as a license holder with the exception that a district attorney terminates the entity. A terminated entity may not transact bail unless a natural person or corporation or co-partnership or association decide to continue transacting bail under an existing license by a natural person or corporation acting in a different capacity with no substantial changes. True or False? Every individual and organization licensee shall file with the commissioner notification of all changes to an organization and/or individual licensee in writing with all legal names and specifics True. How much time does a bail agent have to correct a bail bond forfeiture that is ordered by a judge? 180 days. A person having a legal duty, created by his undertaking, to act primarily for the benefit of another in matters connected with his undertaking is described as holding valuable items or money in a fiduciary capacity. A person who diverts or appropriates funds held in a trust for his or her own use is guilty of theft. The purpose of insurance code sections 1737 to 1748.5 is to test the knowledge of applicants, protect the public, and maintain professional standards of applicants.