Tennessee Laws and Rules Questions and Answers Rated A+

Tennessee Laws and Rules Questions and Answers Rated A+ Which of the following is an example of defamation? Circulating brochures that falsely denounce the financial condition of an insurer Which of these is NOT a fair marketing practice when an existing insurance policy is being replaced? Reduce the cost by lowering the commission In Tennessee, a(n) _______ insurance company is one formed under the laws of a state outside of Tennessee. foreign If an insurance producer applicant is required to a written examination, what is also required? A fingerprint-based criminal background check Who would be liable for an insurance claim on a policy sold by a Tennessee producer and issued by an insurance company NOT authorized to conduct business in Tennessee? The producer *The producer is liable for all insurance contracts unlawfully made in TN with an insurance company not authorized to do business in TN. A Long-Term Care policy sold in Tennessee MUST be Guaranteed renewable B is an insurance producer who occasionally engages in financial planning. If B sells an insurance policy during the course of a financial planning seminar, B must disclose to the client that a commission will be earned in addition to any fee charged for financial planning When engaged in an insurance transaction in Tennessee, the producer represents the insurer The Commissioner would like to hold a hearing against a producer. Before the hearing os held, a notice must be sent by registered or certified mail to the producer's address on file All of these statements regarding referrals are true EXCEPT: -The Commissioner may establish by rule a maximum amount for each referral -The person making the referral may not discuss the specific policy terms and conditions -Referral fees may not be tied to the purchase of a policy -Referral fees must be filed and approved with the Commissioner of Insurance Referral fees must be filed and approved with the Commissioner of Insurance Unfair discrimination is BEST described as charging a different rate for someone in the same actuarial class In Tennessee, the MAXIMUM fine that the Commissioner can impose on a producer is ______ per violation. $1,000 Who determines the education credits needed for a producer's continuing education? Commissioner of Commerce and Insurance