MO Review Flashcards
If a Producer fails to comply with a subpoena issued by the Director, the Director may revoke or suspend the license and take further legal action in the office of the:
Select one:
a.
Attorney General
b.
Missouri Supreme Court
c.
Governor
d.
County Circuit Court
County circuit court
Making false statements about the financial condition of an insurer is called:
Select one:
a.
boycotting.
b.
defamation.
Defamation
The Director may issue temporary licenses for:
Select one:
a.
30 days.
b.
60 days.
c.
90 days.
d.
120 days.
90 days
A Producer may legally obtain a loan from a client if:
Select one:
a.
the client is in the business of providing loans.
b.
the Producer has written consent from the Director to allow the loan.
The client is in the business of providing loans
FAIR Plan coverage is provided on the basis of:
Select one:
a.
Special form.
b.
Broad form.
c.
Replacement Cost.
d.
Basic form.
Basic form
If a business entity terminates a Producer, the Director of Insurance must be notified within:
Select one:
a.
10 days
b.
20 days
c.
30 days
d.
60 days
20 days
Property covered under the FAIR Plan is insured on what basis?
Select one:
a.
Replacement Cost
b.
Actual Cash Value (ACV)
Actual Cash Value (ACV)
Every auto liability policy in Missouri is required to include:
Select one:
a.
Both Liability and Underinsured Motorist
b.
Both Liability and Uninsured Motorist
c.
Liability only
d.
Liability, Uninsured Motorist, and Underinsured Motorist
Both liability and uninsured motorist
Inland Marine Insurance may cover each of the following EXCEPT:
Select one:
a.
aircraft.
b.
wharves.
c.
piers.
d.
warehouses.
Warehouses
A producer may receive a commission from:
Select one:
a.
an unlicensed person.
b.
another licensed producer having the same type of license.
Another licensed producer, having the same type of license
An insurance producer’s license is required for each of the following EXCEPT:
Select one:
a.
receive and record information from a policyholder to give to a Producer for review.
b.
sign an application or an order for insurance on behalf of an applicant.
c.
disseminate information regarding insurance rates.
d.
advise a prospective purchaser on the terms of existing coverage.
Receive and record information from a policyholder to give to a producer for review
If a business is formed as a limited liability partnership, which of the following may request an exclusion from work comp coverage?
Select one:
a.
employees only
b.
members only
c.
neither employees nor members
d.
employees and members
Members only
The Director may suspend or revoke a Producer license for each of the following EXCEPT:
Select one:
a.
contributing money to a political organization
b.
having been convicted of a felony
c.
using fraudulent information while conducting insurance business
d.
failing to comply with an administrative court order
Contributing money to a political organization
Under the Missouri Automobile Insurance Plan (MAIP), the actual insurance policy is issued by:
Select one:
a.
private insurance companies.
b.
the Department of Motor Vehicles.
c.
the Department of Insurance.
d.
the federal government.
Private insurance companies
Under Missouri law, a new or replacement vehicle is automatically covered for a “grace period” of:
Select one:
a.
only 14 days
b.
only 21 days
c.
only 30 days
d.
only 60 days
Only 30 days
A worker is disabled and misses 5 days of work. The worker is entitled to disability compensation:
Select one:
a.
from the time of the injury
b.
after the first day
c.
after the 3rd day
d.
after the 4th day
After the 3rd day
A person is entitled to a public hearing before the Director on an issue involving a cease and desist order if a request in writing is made within:
Select one:
a.
10 days.
b.
15 days.
c.
30 days.
d.
45 days.
15 days
Each of the following business entities may obtain a Producer’s license EXCEPT:
Select one:
a.
limited liability partnership.
b.
partnership.
c.
sole proprietorship.
d.
corporation.
Sole proprietorship
All premiums received by a Producer must be kept in:
Select one:
a.
the office checking account.
b.
a premium trust account.
A premium trust account
The Director may grant a waiver from the Continuing Education requirement for the following EXCEPT:
Select one:
a.
serious physical injury.
b.
the producer met more than the mandatory hours in the prior two year period.
c.
licensee is at least 70 years old.
d.
active duty in the armed services.
The producer met more than the mandatory hours in the prior two year period
The purpose of the joint underwriting association is to provide medical malpractice insurance for:
Select one:
a.
all medical professional in Missouri
b.
medical professionals who have been unable to obtain insurance in the voluntary market
c.
nurses but physicians
d.
physicians but not nurses
Medical professionals, who have been unable to obtain insurance in the voluntary market
If an Insured inquires about submitting claim, the Insurer must do each of the following within 10 days EXCEPT:
Select one:
a.
provide assistance and claims forms
b.
respond to all communications
c.
acknowledge receipt of a claim filed
d.
pay the claim
Pay the claim
The purpose of the Missouri FAIR Plan is to:
Select one:
a.
provide property insurance to persons unable to obtain insurance.
b.
prevent insurance rate discrimination based on race or color.
c.
guarantee that insurance advertising fairly represents the actual policies to be sold.
d.
provide a source of liability insurance for all applicants.
Provide property insurance to persons unable to obtain insurance
Which of the following correctly states the amount of required auto property damage liability coverage under Missouri’s Financial Responsibility Requirements?
Select one:
a.
$10,000
b.
$20,000
c.
$25,000
d.
$50,000
$25,000
