Idaho Statutes, Rukes, And Regulations Common To All Lines

Question 1

All credit life insurance policies for a period of more than __ years are exempt from being subject to the provisions of the insurance code.

Answer 1

15

Question 2

Individual term life, individual term disability, group term life, and group term disability are the only forms in which _________ insurance and ________________ insurance may be issues.

Answer 2

Credit life and credit disability

Question 3

The term of Credit disability or life begins when? Except when evidence of insurability is required. Cannot be extended more than __ days beyond the scheduled maturity of indebtedness.

Answer 3

On the day the debtor becomes obligated to the creditor. 15

Question 4

Helps guarantee payments if benefits
Asses association meme bees for finds needed to carry out its purposes and helps detect and prevent insurer insolvency

Answer 4

Insurance guaranty association

Question 5

The guaranty association act applies to all l___ , d______, a_______ contracts, and s____ contracts.

Answer 5

Life, disability, annuity, supplemental

Question 6

The guaranty association is liable for
$——— in life
$——— in health
$——— for major med
$———- in annuity

Answer 6

300k
300k
500k
250k

Question 7

Insurers ________ advertise protection by the insurance guaranty association

Answer 7

Cannot

Question 8

All ________ insurers must be members of the guaranty association.

Answer 8

Admitted

Question 9

If the insurance co makes a statement that it’s policies are guaranteed by the guaranty association this is consider what?

Answer 9

An unfair trade practice

Question 10

Who comprises the life and health guaranty association?

Answer 10

Life and health insurers in Idaho

Question 11

A domicile refers to the location where an insurer is _________. Not necessarily where the insurer _____ business.

Answer 11

Incorporated; conducts

Question 12

I’m most states fraternal benefit societies issue life, health, and annuities. They do not issue _______ or _______ policies.

Answer 12

Property, liability

Question 13

Administered by an attorney-in-fact. Subscribers agree to become liable for their share of losses and expenses.

Answer 13

Reciprocal

Question 14

Director is appointed for how many years.

Answer 14

4

Question 15

Director must have how many years practice experience in insurance or other professional business experience.

Answer 15

5 years

Question 16

Director can examine insurance companies as often as needed but at least once every how many years.

Answer 16

5

Question 17

Expenses of company examination by director are to paid by whom.

Answer 17

The examinee

Question 18

If a director receives a request for a hearing it must be held with in how many days?

Answer 18

30

Question 19

Director must give written notice of a hearing how many days in advance?

Answer 19

14

Question 20

If notice for hearing by director requires more than 100 separate notices the director may instead publish a notice between __ and __ daily news papers once a week for __ weeks.

Answer 20

3, 5, 4

Question 21

If unfair trade practice is proven at a hearing the director may order what?

Answer 21

A cease and desist

Question 22

Orders or notices from the Director may be served by what means?

Answer 22

Personal service, certified mail, or fax or email or has agreed to it in writing.

Question 23

Violating the insurance code is a fine of ______ for natural person or ______ for any other entity. Imprisonment for __ months, or both.

Answer 23

1000, 5000, 6

Question 24

$________ administrative penalty for anyone conducting insurance without a license.

Answer 24

15,000

Question 25

Director may suspend a producers license for how long for license violations. Or May _____ or refuse to renew.

Answer 25

12 months, revoke

Question 26

Telling a client that his first premium will be waived if he purchases today is a form of what?

Answer 26

Rebating

Question 27

Max penalty for habitual willful noncompliance with the fair credit reporting act.

Answer 27

$2500

Question 28

Fiduciary funds payable to the insurer must be remitted by the agent no later than how many days after receipt?

Answer 28

21

Question 29

After passing the state exam an individual must apply for a license within how many days?

Answer 29

180

Question 30

After an insurer receives an itemized bill related to a valid motor vehicle policy claim, it mus be paid within how many days?

Answer 30

20

Question 31

An agreement that is enforceable by law

Answer 31

Legal contract

Question 32

Permissible calling hours for telemarketers.

Answer 32

8am to 9pm

Question 33

Non resident producers have __ days to do what they need to do

Answer 33

30

Question 34

Insurer must file appointment within __ days of new contract. Director has __ days to verify eligibility. If not eleigible Director has __ days to notify insurer.

Answer 34

15, 30, 5

Question 35

License Applicants must be __ years of age.

Answer 35

18

Question 36

Application for license must be in within ___ days of successful completion of the exam.

Answer 36

180

Question 37

If you receive commissions you need a ________.

Answer 37

License

Question 38

New license not required if drom out of state but application must be received within __ days of cancellation of previous license.

Answer 38

90

Question 39

If a license has been previously denied Director will not issue license for __ year(s)

Answer 39

1

Question 40

In the case of revoked or non renewed license may be denied for a period of __ to __ years.

Answer 40

1 to 5

Question 41

License renewal term is __ years. Must complete at least __ hours of cec’s, and at least __ of those hours must be in ethics. Excess ___ be carried over. If missed you can apply for reinstated within __ days and paying a $—- to $—- penalty. After that many days you must retest , pay fees, submit new app. After __ year you must reapply as a new applicant.

Answer 41

2, 24, 3, may not, 90, $100 to $300, 1

Question 42

Lapsed license may be reinstated within __ months. And pay paying ___ the unpaid renewal fee

Answer 42

12, double

Question 43

Change of address must be sent within __ days. Fees?

Answer 43

30, no

Question 44

All records must be kept for __ years.

Answer 44

5

Question 45

Director has authority to suspend a license without hearing for up to __ months

Answer 45

12

Question 46

Funds payable to insurer must be remitted in __ days. Funds payable to policyholders must be remitted in __ days.

Answer 46

21. 14

Question 47

All other funds must be placed ina fiduciary account no later than: __ days in the form of cash under $2k __ bus days in cash over $2k __ days in form id check or the like.

Answer 47

7, 3, 7

Question 48

Proven in court to not act in fiduciary manner is a ______

Answer 48

Felony

Question 49

Producer must report any admin action against them elsewhere within __ days. Shame as criminal prosecutions.

Answer 49

30 days

Question 50

Min age to contract insurance.

Answer 50

15

Question 51

Fire losses must be reported within __ days for loss of $1k or more.

Answer 51

7

Question 52

Motor vehicle claims must be paid __ days after an insurer receives itemized bill. Claims must be paid within __ days of proof of loss.

Answer 52

20, 30

Question 53

Insurance companies are allowed to give up to $—- in goods , or prizes per year.

Answer 53

$200

Question 54

Comparison if insurers to persuaded a switch.

Answer 54

Twisting

Question 55

To require as a condition to a loan that the applicant purchase insurance from a specific insurer.

Answer 55

Coercion

Question 56

Discrimination in rates, premiums, benefits for persons in the _______________ or with same life expectancy is illegal.

Answer 56

Same class

Question 57

Any insurer that has evidence of fraud has __ days to send form to director.

Answer 57

60

Question 58

Any violator of fraud is guilty of a felony and subject to ___________ not to exceed __ years. Or a fine of up to ________ or both. Restitution as well.

Answer 58

Imprisonment, 15 years, $15,000

Question 59

If an insurer violates the provisions of the unfair claims settlement practices it may be a penalty of up to ____________ in addition to possible revocation.

Answer 59

$10k

Question 60

Unlike consumer reports, with investigative consumer reports cannot be made unless consumer is advised in writing within __ days of the date the report was requested. And insurer or reporting agency has __ days to provide consumer with additional info.

Answer 60

3, 5

Question 61

Organizations must consult so not call registry every __ days.

Answer 61

31