Michigan Life, Accident, and Health Insurance – Lecture Notes _ Study
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study Material.pdf
Michigan Life, Accident,
and Health Insurance –
Lecture Notes / Study
Material
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
Michigan Life, Accident, and Health Insurance – Lecture Notes _ Study
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study Material.pdf
,Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
Terms in this set (221)
The Commissioner of Insurance is appointed by the 4 years
Governor for a term of
All of the following are examples of insurance Correct answer: C - licensing of producers
transactions except:
A. soliciting applications for insurance
B. delivering policies
C. licensing of producers
D. collecting premiums
A temporary license issued to close the affairs of a 180 days
deceased producer may be issued for up to _____
days at the discretion of the Commissioner
Continuing Education (CE) 24 total hours every two years
______ hours of CE every two years 3 hours in ethics
______ hours must be in Ethics 90 day grace period
______ day grace period to complete CE
Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
,Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
Michigan Life and Health Insurance Guaranty Protects policy holders against failure insolvent insurers
Association
Controlled business It is permitted provided it does not exceed 15% of the premiums written in
a 12-month period
To motivate a buyer to sign an application for Rebating
insurance, a producer promises a gift equal to 50%
of the commission. This is an example of __________.
Defamation A written statement that is false and derogatory that is designed to injure
someone's reputation.
The maximum fine for knowingly violating a cease $10,000 and possible license revocation
and desist order is $________ and __________________.
Insurance counselor Provides advice concerning an insurance policy and charges a fee for that
advice.
Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
, Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
An applicant who has been denied an insurance 30 days
license has _____ days to request a hearing to protest
the denial.
True / False True
A producer may share commissions with another
licensed producer
True / False False
A producer may not share commissions with a
licensed nonresident producer
If, after a hearing, the Commissioner believes a Fine the producer a max of $2,500 per violation
producer knowingly violated insurance licensing
laws, the Commissioner can:
A producer has a fiduciary responsibility to all of the - Insured on cancelled policies
following: - Insurer, for premiums due
- Prospective purchaser of insurance, when the application is rejected.
Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study Material.pdf
Michigan Life, Accident,
and Health Insurance –
Lecture Notes / Study
Material
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
Michigan Life, Accident, and Health Insurance – Lecture Notes _ Study
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study
Michigan
Material.pdf
Life, Accident, and Health Insurance – Lecture Notes _ Study Material.pdf
,Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
Terms in this set (221)
The Commissioner of Insurance is appointed by the 4 years
Governor for a term of
All of the following are examples of insurance Correct answer: C - licensing of producers
transactions except:
A. soliciting applications for insurance
B. delivering policies
C. licensing of producers
D. collecting premiums
A temporary license issued to close the affairs of a 180 days
deceased producer may be issued for up to _____
days at the discretion of the Commissioner
Continuing Education (CE) 24 total hours every two years
______ hours of CE every two years 3 hours in ethics
______ hours must be in Ethics 90 day grace period
______ day grace period to complete CE
Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
,Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
Michigan Life and Health Insurance Guaranty Protects policy holders against failure insolvent insurers
Association
Controlled business It is permitted provided it does not exceed 15% of the premiums written in
a 12-month period
To motivate a buyer to sign an application for Rebating
insurance, a producer promises a gift equal to 50%
of the commission. This is an example of __________.
Defamation A written statement that is false and derogatory that is designed to injure
someone's reputation.
The maximum fine for knowingly violating a cease $10,000 and possible license revocation
and desist order is $________ and __________________.
Insurance counselor Provides advice concerning an insurance policy and charges a fee for that
advice.
Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
, Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
An applicant who has been denied an insurance 30 days
license has _____ days to request a hearing to protest
the denial.
True / False True
A producer may share commissions with another
licensed producer
True / False False
A producer may not share commissions with a
licensed nonresident producer
If, after a hearing, the Commissioner believes a Fine the producer a max of $2,500 per violation
producer knowingly violated insurance licensing
laws, the Commissioner can:
A producer has a fiduciary responsibility to all of the - Insured on cancelled policies
following: - Insurer, for premiums due
- Prospective purchaser of insurance, when the application is rejected.
Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf Michigan Life, Accident, and Health.pdf
