WV P&C Insurance Laws and
Regulations
The Insurance Commissioner is appointed by who:
A. City Council
B. Insurer
C. Mayor
D. Governor - ANSD- Governor
What is the term period for the Commissioner
A. 10 years
B. 6 years
C. 5 years
D. 4 years - ANSB- 6 years
When can the Insurance Department may examine the affairs, transactions, accounts, records,
documents and assets of each authorized insurer or licensed producer
A. Five years
B. As often as necessary
C. Not permitted
D. Once every five years - ANSB- As often as necessary
The Commissioner or his/her accredited examiners must examine each domestic insurer at
least how much
A. Not permitted
B. Once every five years
C. Five years
D. As often as necessary - ANSB- Once every five years
The Commissioner must also examine any foreign/alien insurer licensed to transact insurance in
this state how much
A. As often as necessary
B. 5 years
C. Once every five years
D. Not permitted - ANSC- Once every five years
If the Commissioner decides to conduct an investigation whom bares the cost of the
examination
A. The state
B. Insurance company examined
, C. The Commissioner
D. The producer examined - ANSB- Insurance company examined
What is the acronyms for Notices of Conduct of Hearings
A. 45/15/45/30
B. 30/15/45/45
C. 45/15/30/45
D. 30/45/15/45 - ANSA- 45/15/45/30
If an individual requests a hearing, it must be held within ____ days of receipt of the request
unless postponed by mutual agreement
A. 30
B. 15
C. 45
D. 10 - ANSC- 45
The Insurance Commissioner will give at least ____ days notice through the US mail, of the
time, place and matter to be considered to all those directly involved.
A. 15
B. 30
C. 10.
D. 45 - ANSA- 15
Within ____ days after the completion of hearing, the Insurance Commissioner will render a
decision
A. 45
B. 30
C. 15
D. 10 - ANSB- 30
At the discretion of the Insurance Commissioner, a re-hearing may be granted upon written
request filed with the Commissioner within ____ days of the decision
A. 10
B. 15
C. 30
D. 45 - ANSC- 30
In lieu of refusing to renew, revoking or suspending the license of an insurer in any case except
where such action is mandatory the Commissioner may order insurer to pay the State of WV a
penalty in sum not exceeding __________
A. $10,000
B. $15,000
C. $20,000
D. $5,000 - ANSA- $10,000
Regulations
The Insurance Commissioner is appointed by who:
A. City Council
B. Insurer
C. Mayor
D. Governor - ANSD- Governor
What is the term period for the Commissioner
A. 10 years
B. 6 years
C. 5 years
D. 4 years - ANSB- 6 years
When can the Insurance Department may examine the affairs, transactions, accounts, records,
documents and assets of each authorized insurer or licensed producer
A. Five years
B. As often as necessary
C. Not permitted
D. Once every five years - ANSB- As often as necessary
The Commissioner or his/her accredited examiners must examine each domestic insurer at
least how much
A. Not permitted
B. Once every five years
C. Five years
D. As often as necessary - ANSB- Once every five years
The Commissioner must also examine any foreign/alien insurer licensed to transact insurance in
this state how much
A. As often as necessary
B. 5 years
C. Once every five years
D. Not permitted - ANSC- Once every five years
If the Commissioner decides to conduct an investigation whom bares the cost of the
examination
A. The state
B. Insurance company examined
, C. The Commissioner
D. The producer examined - ANSB- Insurance company examined
What is the acronyms for Notices of Conduct of Hearings
A. 45/15/45/30
B. 30/15/45/45
C. 45/15/30/45
D. 30/45/15/45 - ANSA- 45/15/45/30
If an individual requests a hearing, it must be held within ____ days of receipt of the request
unless postponed by mutual agreement
A. 30
B. 15
C. 45
D. 10 - ANSC- 45
The Insurance Commissioner will give at least ____ days notice through the US mail, of the
time, place and matter to be considered to all those directly involved.
A. 15
B. 30
C. 10.
D. 45 - ANSA- 15
Within ____ days after the completion of hearing, the Insurance Commissioner will render a
decision
A. 45
B. 30
C. 15
D. 10 - ANSB- 30
At the discretion of the Insurance Commissioner, a re-hearing may be granted upon written
request filed with the Commissioner within ____ days of the decision
A. 10
B. 15
C. 30
D. 45 - ANSC- 30
In lieu of refusing to renew, revoking or suspending the license of an insurer in any case except
where such action is mandatory the Commissioner may order insurer to pay the State of WV a
penalty in sum not exceeding __________
A. $10,000
B. $15,000
C. $20,000
D. $5,000 - ANSA- $10,000
