WASHINGTON LAWS AND RULES
PERTINENT TO INSURANCE EXAM
2024/2025
Violations of US Code Title 18 section 1033, may result in - -Fine and/or
imprisonment
- Charles is a producer who is licensed in Washington but resides in Oregon.
Charles is considered to be a(n) - -Nonresident producer
- Before a producer may sell, solicit, or negotiate insurance from an insurer,
the producer must have a(n) - -Appointment
- The act of using misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy is referred to as - -
Twisting
- An example of an unfair claims settlement practice is - -Turning down a
claim without providing the basis of denial
- One role of the Commissioner is to - -Enforce state insurance laws
- Every producer licensed in Washington must notify the Commissioner
within ___ days of any change of the address. - -30
- The identity of the _____ must be made clear in every health (disability)
insurance advertisement. - -Insurer
- A life insurance policy becomes incontestable after it has been in force for -
-2 years
- Advertising regulations exist to - -Assure full and truthful disclosures to the
public
- When a Medicare Supplement insurance policy is being replaced, who must
sign the notice of replacement? - -The producer and the applicant
- What is the MINIMUM benefit period that must be offered by a Long-Term
Care policy? - -12 months
- No legal action can be initiated after ___ years from the initial time written
proof of loss has been provided. - -3
, - When replacing a life insurance policy, a producer must provide the
applicant with a - -Notice Regarding Replacement
- A Medicare Supplement policy can be cancelled by the insurer for - -
Nonpayment
- A company that is chartered and organized of the state in which its home
office is located is called a(n) - -Domestic insurer
- An insurance company may only pay commissions to a(n) - -Licensed
producer appointed by the insurer
- An example of an Unfair Claims Settlement practice is - -Failing to
promptly provide reasonable explanations for the denial of claims
- An insurance company that has qualified and received a Certificate of
Authority from the Insurance Department to sell insurance in this state is
called a(n) - -Authorized insurer
- Replacement can be BEST described as - -Exchanging a new policy for one
already in force
- An insurer may exclude preexisting conditions on a Medicare Supplement
policy for ___ months. - -6
- What is the purpose of the Washington Life and Disability Insurance
Guaranty Association? - -Ensures that claims filed against insolvent
insurance companies will be paid
- An example of rebating is - -A producer who shares commissions with a
client
- The required grace period for life insurance policies sold in Washington is -
-30 days
- Kiara filled out a life insurance application and was given a policy
illustration that showed future premiums being paid out of nonguaranteed
values. This illustration MUST disclose that - -She may need to resume
premium payments, depending on actual results
- Which of the following is required for an insurer to conduct business in this
state? - -Certificate of Authority
- Which of the following is an example of a producer's fiduciary duty? - -
Recording receipt and remittance of premiums due to the insurance
company
PERTINENT TO INSURANCE EXAM
2024/2025
Violations of US Code Title 18 section 1033, may result in - -Fine and/or
imprisonment
- Charles is a producer who is licensed in Washington but resides in Oregon.
Charles is considered to be a(n) - -Nonresident producer
- Before a producer may sell, solicit, or negotiate insurance from an insurer,
the producer must have a(n) - -Appointment
- The act of using misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy is referred to as - -
Twisting
- An example of an unfair claims settlement practice is - -Turning down a
claim without providing the basis of denial
- One role of the Commissioner is to - -Enforce state insurance laws
- Every producer licensed in Washington must notify the Commissioner
within ___ days of any change of the address. - -30
- The identity of the _____ must be made clear in every health (disability)
insurance advertisement. - -Insurer
- A life insurance policy becomes incontestable after it has been in force for -
-2 years
- Advertising regulations exist to - -Assure full and truthful disclosures to the
public
- When a Medicare Supplement insurance policy is being replaced, who must
sign the notice of replacement? - -The producer and the applicant
- What is the MINIMUM benefit period that must be offered by a Long-Term
Care policy? - -12 months
- No legal action can be initiated after ___ years from the initial time written
proof of loss has been provided. - -3
, - When replacing a life insurance policy, a producer must provide the
applicant with a - -Notice Regarding Replacement
- A Medicare Supplement policy can be cancelled by the insurer for - -
Nonpayment
- A company that is chartered and organized of the state in which its home
office is located is called a(n) - -Domestic insurer
- An insurance company may only pay commissions to a(n) - -Licensed
producer appointed by the insurer
- An example of an Unfair Claims Settlement practice is - -Failing to
promptly provide reasonable explanations for the denial of claims
- An insurance company that has qualified and received a Certificate of
Authority from the Insurance Department to sell insurance in this state is
called a(n) - -Authorized insurer
- Replacement can be BEST described as - -Exchanging a new policy for one
already in force
- An insurer may exclude preexisting conditions on a Medicare Supplement
policy for ___ months. - -6
- What is the purpose of the Washington Life and Disability Insurance
Guaranty Association? - -Ensures that claims filed against insolvent
insurance companies will be paid
- An example of rebating is - -A producer who shares commissions with a
client
- The required grace period for life insurance policies sold in Washington is -
-30 days
- Kiara filled out a life insurance application and was given a policy
illustration that showed future premiums being paid out of nonguaranteed
values. This illustration MUST disclose that - -She may need to resume
premium payments, depending on actual results
- Which of the following is required for an insurer to conduct business in this
state? - -Certificate of Authority
- Which of the following is an example of a producer's fiduciary duty? - -
Recording receipt and remittance of premiums due to the insurance
company
