Expanded West Virginia General Regulations Test Questions and Correct Answers

The Insurance Commissioner is appointed by the Governor for a six-year term. The Commissioner has the power to examine and investigate insurers and producers, hold hearings, take depositions, compel the attendance of witnesses to testify under oath and delivery of all evidence deemed necessary in the examination or investigation of insurers and producers. The Commissioner has the authority to conduct examinations and investigations of insurers and producers whenever deemed necessary. In order to guard against insurer insolvency, the Commissioner must conduct an examination no less than every _____ years for insurers. 5 Examination costs fall on _________ being examined unless the Commissioner, at his discretion, uses ______________. the company; funds from the Commissioner's examination revolving fund. Within _______ days following the completion of an examination, the examiner in charge must file a written report with the Commissioner. 60 The Commissioner will then send the report to the insurer, which has ________ days to make a written submission or rebuttal. 30 The Commissioner then has 30 days to issue one of the following orders: -Adopting the report as filed or modified; -Rejecting the report with instructions to examiners to reopen the examination; or -Calling for a hearing to begin with at least 20 days' notice to the insurer. Examination reports must become open for public inspection after _______ days of the result on the matter, unless otherwise prohibited by court order. 90 The Commissioner must hold hearings upon _______ by any person affected by any act, rule, regulation or order of the Commissioner. The demand must specify the grounds for the relief. a written command The Commissioner must hold the hearing within ______ days of receipt of the demand unless postponed by mutual agreement. 45 The Commissioner, at his discretion, may stay any order, rule or regulation pending hearing. The Commissioner must give at least ______ days notice of the time, place and scope of matters of the hearing to all directly affected persons. 15 The Commissioner must enter an order pertaining to a hearing within _______ days after its completion unless extended by mutual consent. 45 At the Commissioner's discretion, a rehearing may be granted to any party upon written request filed within ______ days of order. Costs of any hearing or rehearing may be taxed by the Commissioner to any party and may be recovered in civil action. 30