Chapter 12 - Washington laws Complete Questions & Answers!!

A producer's fiduciary responsibility includes which of the following activities? - Recording the receipt and distribution of premiums due to an insurer - Properly remunerating persons who furnish leads on prospects - Providing needed insurance to prospective insureds through any sources that are available - Guaranteeing payment to insureds for losses covered by policies that the producer sold - ANSWER Recording the receipt and distribution of premiums due to an insurer Group life insurance policies must include a provision entitling policyholders to grace period of - 10 days - 31 days - 90 days - 1 year - ANSWER 31 days Replacing an insurance policy from one insurer to another based on misrepresentation is called - Unfair discrimination - Misrepresentation - Twisting - Rebating - ANSWER Twisting Barry offers Chris his mountain cabin for the weekend to secure his order for his insurance business. This is an example of