IDAHO PROPERTY CASUALTY MAIN CORE
SET QUESTIONS AND ANSWERS SURE A+
✔✔Insurance producer - ✔✔person who is required to be licensed under the laws of
Idaho to sell, solicit and negotiate insurance
✔✔Limited lines producer - ✔✔producer authorized by the Director to sell, solicit, or
negotiate limited lines insurance
✔✔Insurance adjuster - ✔✔investigates, negotiates, and settles claims on behalf of the
insurer; insurer pays commission; must be licensed; other employees do not need to be
licensed
✔✔Gramm-Leach-Bliley Act (GLBA) - ✔✔A law that requires financial institutions to
explain their information-sharing practices to their customers and to safeguard sensitive
data; includes the Fair Credit Reporting Act
✔✔Consumer (GLBA) - ✔✔an individual about whom a company collects information
✔✔Customer (GLBA) - ✔✔consumer that has developed an ongoing relationship with a
financial institution; must be given an annual privacy notice
✔✔Fair Credit Reporting Act - ✔✔federal law that helps to ensure the accuracy, fairness
and privacy of the information in consumer credit bureau files. the law regulates the way
credit reporting agencies can collect, access, use and share the data they collect in your
consumer reports.
✔✔McCarran-Ferguson - ✔✔authorizes state regulation of the insurance industry with
exception of fair labor standards and antitrust
✔✔Director of insurance - ✔✔appointed by the Governor for a 4-year term; conducts
investigations and examinations; makes reasonable rules and regulations; issues orders
, and notices; issues insurance licenses; imposes penalties including fines, suspensions,
and revocations; must examine domestic insurers at least once every 5 years
✔✔If the Director believes that any person has engaged in any unfair or deceptive act
or practice, the Commissioner may issue and serve a statement of the charges and a
notice of a hearing to be held within ________ days - ✔✔30
✔✔Advanced notice of a hearing for a person who is believed to have engaged in any
unfair or deceptive act or practice may be no less than ________ days after the date of
the service - ✔✔14
✔✔Director may issue a temporary producer license for up to ________days in the
case of death or disability of the primary producer or active military service of the
producer - ✔✔180
✔✔An Idaho licensed property and casualty producer who has a minimum of ________
years experience in the lines for which he seeks to be licensed may be issued a surplus
lines broker license - ✔✔2
✔✔A producer license remains in effect as long as - ✔✔renewal fees are paid and CE
requirements are met
✔✔A lapsed producer's license may be reinstated within ________ months from the
renewal due date, without passing a written examination. the reinstatement penalty is
________ the renewal fee - ✔✔12, double
✔✔Director may suspend a license for up to ________ months - ✔✔12
✔✔Director must provide at least ________ days notice of hearing to an applicant or
licensee to appeal the decision to suspend the license - ✔✔21
✔✔The appointing insurer must file a notice of appointment within ________ days from
the date the agency contract is executed, or the first insurance application is submitted -
✔✔15
✔✔Producers must determine who is entitled to funds held over ________ days and
pay them in a timely manner - ✔✔90
✔✔Commisions - ✔✔a person who is not licensed may not accept a commission
✔✔Fees and disclosures - ✔✔if a producer is charging a fee to a consumer, a written
statement must describe the services to be performed and the fees to be paid; the
consumer must acknowledge the fees by signing and dating the document
SET QUESTIONS AND ANSWERS SURE A+
✔✔Insurance producer - ✔✔person who is required to be licensed under the laws of
Idaho to sell, solicit and negotiate insurance
✔✔Limited lines producer - ✔✔producer authorized by the Director to sell, solicit, or
negotiate limited lines insurance
✔✔Insurance adjuster - ✔✔investigates, negotiates, and settles claims on behalf of the
insurer; insurer pays commission; must be licensed; other employees do not need to be
licensed
✔✔Gramm-Leach-Bliley Act (GLBA) - ✔✔A law that requires financial institutions to
explain their information-sharing practices to their customers and to safeguard sensitive
data; includes the Fair Credit Reporting Act
✔✔Consumer (GLBA) - ✔✔an individual about whom a company collects information
✔✔Customer (GLBA) - ✔✔consumer that has developed an ongoing relationship with a
financial institution; must be given an annual privacy notice
✔✔Fair Credit Reporting Act - ✔✔federal law that helps to ensure the accuracy, fairness
and privacy of the information in consumer credit bureau files. the law regulates the way
credit reporting agencies can collect, access, use and share the data they collect in your
consumer reports.
✔✔McCarran-Ferguson - ✔✔authorizes state regulation of the insurance industry with
exception of fair labor standards and antitrust
✔✔Director of insurance - ✔✔appointed by the Governor for a 4-year term; conducts
investigations and examinations; makes reasonable rules and regulations; issues orders
, and notices; issues insurance licenses; imposes penalties including fines, suspensions,
and revocations; must examine domestic insurers at least once every 5 years
✔✔If the Director believes that any person has engaged in any unfair or deceptive act
or practice, the Commissioner may issue and serve a statement of the charges and a
notice of a hearing to be held within ________ days - ✔✔30
✔✔Advanced notice of a hearing for a person who is believed to have engaged in any
unfair or deceptive act or practice may be no less than ________ days after the date of
the service - ✔✔14
✔✔Director may issue a temporary producer license for up to ________days in the
case of death or disability of the primary producer or active military service of the
producer - ✔✔180
✔✔An Idaho licensed property and casualty producer who has a minimum of ________
years experience in the lines for which he seeks to be licensed may be issued a surplus
lines broker license - ✔✔2
✔✔A producer license remains in effect as long as - ✔✔renewal fees are paid and CE
requirements are met
✔✔A lapsed producer's license may be reinstated within ________ months from the
renewal due date, without passing a written examination. the reinstatement penalty is
________ the renewal fee - ✔✔12, double
✔✔Director may suspend a license for up to ________ months - ✔✔12
✔✔Director must provide at least ________ days notice of hearing to an applicant or
licensee to appeal the decision to suspend the license - ✔✔21
✔✔The appointing insurer must file a notice of appointment within ________ days from
the date the agency contract is executed, or the first insurance application is submitted -
✔✔15
✔✔Producers must determine who is entitled to funds held over ________ days and
pay them in a timely manner - ✔✔90
✔✔Commisions - ✔✔a person who is not licensed may not accept a commission
✔✔Fees and disclosures - ✔✔if a producer is charging a fee to a consumer, a written
statement must describe the services to be performed and the fees to be paid; the
consumer must acknowledge the fees by signing and dating the document
