Part One Flashcards
(10 cards)
To which of the following policies would the state regulation on illustrations NOT apply?
An individual variable policy
All of the following would be excluded from the regulation
on life insurance solicitation EXCEPT
A term policy
When transacting business in this state an insurer formed under the laws of another country is known as a/an
alien insurer
In the state of Connecticut, an insurance license is granted by
The commissioner of insurance.
All of the following are the duties of the replacing producer where replacement is involved EXCEPT
Send a letter to the policyowner of the right to receive information regarding the existing policy.
An insurance producer has not been appointed by an insurance company. Who is the producer considered to represent?
The client
The Commissioner suspects a producer of chronically misleading prospective applicants. Before a cease and desist order is issued, what must happen?
A legal hearing will be held.
What is the maximum monetary per willful violation of unfair trade practices regulations?
25,000
Which of the following would NOT be considered grounds for the Commissioner to suspend an insurance producer’s
license?
Producer is found guilty of a misdemeanor.
How are state Insurance Guaranty Associations funded?
By their members authorized insurers.
