Ch. 9 - State Regulations

Question 1

Director of insurance term is how many years?

Answer 1

4

Question 2

Department of insurance has how many years to examine domestic insurers

Answer 2

5 years

Question 3

Dept. of insurance has how long to hold a hearing following a demand

Answer 3

30 days

Question 4

Dept of insurance has how long to provide a written notice of hearing.

Answer 4

14 days

Question 5

You must be how old to apply for an insurance license.

Answer 5

18

Question 6

How long do you have to apply for a license after passing exam

Answer 6

180 days

Question 7

How many hours of continuing education is required every two years?

Answer 7

24 hours

Question 8

How many hours of continuing education must be in ethics?

Answer 8

3 hours

Question 9

How long is the temporary license period.

Answer 9

180 days

Question 10

How long do insurers have to notify director of agent appointment.

Answer 10

15 days

Question 11

How long does insurer have to notify director of termination of appointment?

Answer 11

30 days

Question 12

How long after your license lapses do you have to reinstate it by provide in proof of co tinuing education requirements and paying penalty.

Answer 12

90 days

Question 13

What is the max imprisonment for a producer violating the insurance code?

Answer 13

6 months

Question 14

How long does a producer have to notify the director of a change in address?

Answer 14

30 days

Question 15

A producer must keep records for how many years?

Answer 15

5

Question 16

How long does a producer have to send suspected fraudulent claims to the director?

Answer 16

60 days

Question 17

How many days does a producer have to remit funds payable to policy owners?

Answer 17

14 days

Question 18

How many days does a producer have to remit funds to an insurer?

Answer 18

21 days

Question 19

How many days does a producer have to place large funds (over $2k) into a fudiciary account?

Answer 19

3 business days

Question 20

Maximum fine for each conviction violating the insurance code or a cease and desist order.

Answer 20

$1000

Question 21

Max fine for transacting insurance without a license.

Answer 21

$15,000

Question 22

Max fine for violating unfair claims settlement practices by insurer.

Answer 22

$10,000

Question 23

Not profit legal association that protects the insureds against insolvency.

Answer 23

Insurance guaranty association.

Question 24

What type of licensee represents an insured.

Answer 24

Broker

Question 25

When can the director examine insurers?

Answer 25

Whenever necessary but atleast once every 5 years

Question 26

Q: What type of misrepresentation persuades an insured, to his or her detriment, to cancel, lapse, or switch policies from one to another?

Answer 26

Twisting

Question 27

Who is responsible for the costs associated with the examination of insurers?

Answer 27

The insurer

Question 28

What illegal act does a producer commit when the producer represents a policy in a more favorable light than the policy really is?

Answer 28

Misrepresentation

Question 29

: On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. What is the company guilty of?

Answer 29

Misrepresentation

Question 30

Through which branch(es) of the government is insurance currently regulated?

Answer 30

Legislative, judicial, and executive

Question 31

Federal law makes it illegal for any individual convicted of a crime involving dishonesty or breach of trust to work in the business of insurance affecting interstate commerce…

Answer 31

Without receiving written consent from an insurance regulatory authority.

Question 32

What determines whether a life and/or health policy is assignable and to what extent.

Answer 32

The terms of the policy

Question 33

All life and disability insurance in connection with credit transactions is subject to the provisions of the insurance code EXCEPT insurance lasting more than —— years

Answer 33

15

Question 34

I’d an insurance co. Makes a statement that it’s policies are guaranteed this would be considered an ________

Answer 34

Unfair trade practice

Question 35

Health insurers must provide a free look period of —— for a 7 day weekly premium, —- days for a mo they premium, and — days for other premium modes.

Answer 35

7, 10, 31

Question 36

Coverage is required from the moment of birth, if adoption is after — days of birth, coverage starts in the date of the adoption.

Answer 36

60

Question 37

To continue benefits For disabled dependent children beyond limiting age proof must be sent to insurer within — days of limiting age.

Answer 37

31

Question 38

Maternity benefits ——— exclude pregnancy complications and related illness

Answer 38

Cannot

Question 39

Health insurance must include mammograms — for women age 35-39, ——— for women age 40-49, and —— for women age 50 and over.

Answer 39

One, one every two years, and annually

Question 40

Hospital confinement indemnity must pay — per day up to — days

Answer 40

$40; 32

Question 41

Major medical expense must cover up to sum of $——-

Answer 41

$500,000

Question 42

Disability income protection must pay for —— disability

Answer 42

Ongoing

Question 43

Accident only policies must cover d—-,d—-, d——- , h/m care

Answer 43

Death, dismemberment, disability, hospital/medical

Question 44

Accidental death and dismemberment must be payable if loss occurs within how many days of incident.

Answer 44

90

Question 45

Must disclose — day advance notice of non renewal of disability policies

Answer 45

30

Question 46

How many days notice to insurers of a particular plan discontinuance

Answer 46

90 days

Question 47

How many days notice to insurers if no renewal of all plans

Answer 47

180 days notice

Question 48

Medicare advertisements must be sent to who for approval

Answer 48

Director

Question 49

Medicare supplement plans —— duplicate Medicare benefits

Answer 49

Cannot

Question 50

Medicare supplement plans ———- limit coverage by type of illness, treatment, medical condition or accident.

Answer 50

Cannot

Question 51

LTC must provide coverage for at least how many consecutive months.

Answer 51

12

Question 52

Pre existing conditions exclusion for LTC

Answer 52

6 months

Question 53

LTC must include option for —— protection.

Answer 53

Inflation.

Question 54

LTC trigger in Idaho

Answer 54

3 adl

Question 55

LTC ce requirements

Answer 55

8 hr training course, 4 hours ce every 24 months

Question 56

Disability income periodic payments payable after age —; and must be what percent of amount payable before that age.

Answer 56

62; 50%

Question 57

Disability income protection elimination periods - for benefits Of 1 year or less - for 1-2 years of benefits - for all other cases

Answer 57

90 days 180 days 365 days

Question 58

Disability income protection must be payable for at least how many months.

Answer 58

6 months

Question 59

Small employer is defined as —- to —- employees

Answer 59

2 to 50

Question 60

Small employers must offer at least how many types of plans

Answer 60

2

Question 61

Small employer plans must be ——

Answer 61

Renewable

Question 62

Requiring that an insurer cannot discourage small employers from applying for coverage with other insurers is an example of

Answer 62

Fair marketing standards

Question 63

The purpose of what act is to improve fairness and efficiency if the insurance market, restruc premiums, prevent excessive rates, and disclose rating practices to consumers.

Answer 63

Individual health insurance availability act

Question 64

Proof of incapacity of a handicapped child of limiting age cannot be required more often than every —-

Answer 64

Year

Question 65

Which renewal provision must be included in a LTC policy

Answer 65

Guaranteed renewable