Kentucky laws and regulations insurance (Life and Health) Final Exam

Kentucky laws and regulations insurance (Life and Health) Final Exam authorized insurer - CORRECT ANSWER-an insurer who holds a current certificate of authority issued by the commisioner qualifications for agent license - CORRECT ANSWER-18 years of age, fulfilled the residence requirements, trustworthy, reliable, and of good reputation, is competent to exercise the license, financially responsible to exercise the license consultant - CORRECT ANSWER-An individual who provides professional advice or services for a fee, but normally not as an employee of the engaging part Qualifications for consultant license - CORRECT ANSWER-age 25, 5 or more years of actual experience as a licensed agent, have thorough knowledge of insurance and annuity contracts, satisfy the commissioner by written examination, have filed the bond required unlawful advertising - CORRECT ANSWER-misrepresenting the terms of any policy, using any name or title of any policy or class of policies misrepresenting the true nature, misrepresent financial condition of an insurer convicted of a misdemeanor - CORRECT ANSWER-claim is less than or equal to $300, punished by imprisonment for no more than one year, a fine no more than $1,000 per individual nor $5,000 per corporation convicted of a felony - CORRECT ANSWER-claim exceeds $300, imprisonment for no less than one nor more than 5 years, fine no more than $10,000 per individual nor $100,000 per corporation Gross Negligence - CORRECT ANSWER-total d