WA Law Rules and Regulations with latest solutions

scope of code - correct answer-All insurance and insurance transactions in this state. Public Interest - correct answer-The business of insurance is one affected by public interest. All person should act in good faith and abstain from deception. Examine of Records - correct answer-IC shall examine each insurer holding a certificate,rating organizations and examining bureaus at least every 5 years. IC may accept an audit of out of state insurers from their state of domicile or port-of-entry state. IC may examine insurance producers, adjusters or title insurance agents or a person holding shares or proxies of domestic insurers for the purpose of control of its management. IC shall maintain records for public inspection. (Trade secrets are excepted.) Unlicensed activities - correct answer-Unlicensed activities are a Class B felony - a fine of up to $20,000 and 10 years imprisonment. Civil Penalties - Issue a cease and desist, suspend or revoke, or fine $25,000/violation. Rates & Forms - correct answer-Most policies must be filed at least 30 days before use with the IC.