TENNESSEE LIFE AND HEALTH INSURANCE COMPREHENSIVE EXAM
2025 QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔agency system/insurance is made available to the public thru a number of
distribution systems - ✔✔indep ins agent, exclusive or captive agents,general agent of
managing general agents, direct writing companies
✔✔indep ins agent - ✔✔sells ins products of several companies and work for
themselves or other agents
✔✔indep ins agent - ✔✔owns the expiration of the policies he sells, meaning he may
place the business with another insurer upon renewal if it is in the best interest of the
client
✔✔exclusive or captive agents - ✔✔represent only one company, career agents
✔✔general agents or managing general agents - ✔✔hire supervise train other career
agents within a certain geograph area
✔✔MGA - ✔✔managing general agent
✔✔MGA - ✔✔compensated by comissions earned on business sold by herself as well
as an overriding commission on commiss produced by other agents managed by the
general agent
✔✔direct writing company - ✔✔usually pays salaries to employees whos job is to sell
company's insuranceroducts
✔✔agency systems - ✔✔ins agents,
✔✔forms of mass marketing - ✔✔direct response, franchise
✔✔direct response - ✔✔conducted by mail, ads,newspaper, magazines, tv, radio
having limited benefits and low premium ie disability only
✔✔franchise marketing - ✔✔provides cov to employees of small firms or to members of
assoc receive indiv policies that vary according to indiv needs. employers can offer
employees insur at a lower prem, poss ddeducted from their payck
✔✔producer - ✔✔agent repres ins co or broker rep potential insd
✔✔categories of producers - ✔✔life and health,prop n cas, brokers, soilcitors, ins
consultants
, ✔✔life and health agent - ✔✔usually rep insurer to the buyer and do not have authority
to issue or modify ins contracts
✔✔prop and cas agents - ✔✔granted more authority by ins co, may bind or commit co
by oral or written agreement, accept risks, collect premiums, issue contracts
✔✔brokers - ✔✔reps for buyer to insurer who select ins coverages from various cos for
their. clients
✔✔solititors - ✔✔salespersom for the ins co who works for the agent or broker
✔✔insurance consultant - ✔✔not paid by commision, work strictly for benefit of insured
and pd a fee by insured
✔✔actuaries - ✔✔mathematicians who study and compile statistical data regarding
exposure and risks for insurance company
✔✔major channels of regulation in the ins industry - ✔✔federal, state, self
✔✔federal regulation - ✔✔applies to idiv or companies whose activities affect interstate
commerce, oversee areas not cov by state regulation of the industry
✔✔paul vs virginia - ✔✔transact of ins across state lines was not interstate commerce
and therefore should be regulated by local law, held for 75 yrs
✔✔southeastern underwriters decision - ✔✔supreme ct decision overturned paul vs
virginia: ins trNsacted across state lines WAS in fact interstate commerce
✔✔McCarran ferguson act - ✔✔1945 enacted by congress:fed govt has roght to
regulate bus of ins that is not regulated by state law
✔✔privacy - ✔✔disclosure authorization, penalties
✔✔privacy - ✔✔protect the public frominaccurate or misused info
✔✔disclosure authorization - ✔✔producers respons to explain to applicant various
resources from which insurer will obtain info regarding that applicants insurability
✔✔disclosure authorization - ✔✔forms must be furnished stating who is author to
disclose personal info, kimf of info that may be disclosed, reason info is being colllected,
how it will b used
✔✔penalty for any one person who obtains info about a client without having a legit
reason to recv it - ✔✔$10000 or up to one year on jail
2025 QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔agency system/insurance is made available to the public thru a number of
distribution systems - ✔✔indep ins agent, exclusive or captive agents,general agent of
managing general agents, direct writing companies
✔✔indep ins agent - ✔✔sells ins products of several companies and work for
themselves or other agents
✔✔indep ins agent - ✔✔owns the expiration of the policies he sells, meaning he may
place the business with another insurer upon renewal if it is in the best interest of the
client
✔✔exclusive or captive agents - ✔✔represent only one company, career agents
✔✔general agents or managing general agents - ✔✔hire supervise train other career
agents within a certain geograph area
✔✔MGA - ✔✔managing general agent
✔✔MGA - ✔✔compensated by comissions earned on business sold by herself as well
as an overriding commission on commiss produced by other agents managed by the
general agent
✔✔direct writing company - ✔✔usually pays salaries to employees whos job is to sell
company's insuranceroducts
✔✔agency systems - ✔✔ins agents,
✔✔forms of mass marketing - ✔✔direct response, franchise
✔✔direct response - ✔✔conducted by mail, ads,newspaper, magazines, tv, radio
having limited benefits and low premium ie disability only
✔✔franchise marketing - ✔✔provides cov to employees of small firms or to members of
assoc receive indiv policies that vary according to indiv needs. employers can offer
employees insur at a lower prem, poss ddeducted from their payck
✔✔producer - ✔✔agent repres ins co or broker rep potential insd
✔✔categories of producers - ✔✔life and health,prop n cas, brokers, soilcitors, ins
consultants
, ✔✔life and health agent - ✔✔usually rep insurer to the buyer and do not have authority
to issue or modify ins contracts
✔✔prop and cas agents - ✔✔granted more authority by ins co, may bind or commit co
by oral or written agreement, accept risks, collect premiums, issue contracts
✔✔brokers - ✔✔reps for buyer to insurer who select ins coverages from various cos for
their. clients
✔✔solititors - ✔✔salespersom for the ins co who works for the agent or broker
✔✔insurance consultant - ✔✔not paid by commision, work strictly for benefit of insured
and pd a fee by insured
✔✔actuaries - ✔✔mathematicians who study and compile statistical data regarding
exposure and risks for insurance company
✔✔major channels of regulation in the ins industry - ✔✔federal, state, self
✔✔federal regulation - ✔✔applies to idiv or companies whose activities affect interstate
commerce, oversee areas not cov by state regulation of the industry
✔✔paul vs virginia - ✔✔transact of ins across state lines was not interstate commerce
and therefore should be regulated by local law, held for 75 yrs
✔✔southeastern underwriters decision - ✔✔supreme ct decision overturned paul vs
virginia: ins trNsacted across state lines WAS in fact interstate commerce
✔✔McCarran ferguson act - ✔✔1945 enacted by congress:fed govt has roght to
regulate bus of ins that is not regulated by state law
✔✔privacy - ✔✔disclosure authorization, penalties
✔✔privacy - ✔✔protect the public frominaccurate or misused info
✔✔disclosure authorization - ✔✔producers respons to explain to applicant various
resources from which insurer will obtain info regarding that applicants insurability
✔✔disclosure authorization - ✔✔forms must be furnished stating who is author to
disclose personal info, kimf of info that may be disclosed, reason info is being colllected,
how it will b used
✔✔penalty for any one person who obtains info about a client without having a legit
reason to recv it - ✔✔$10000 or up to one year on jail
