WASHINGTON LAWS AND RULES PERTINENT TO
INSURANCE EXAM-with 100% verified solutions
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 -
answer>>>She may need to resume premium payments,
depending on actual results
Life insurance replacement can be best described as -
answer>>>A transaction in which a new life insurance policy is
purchased and an existing life insurance policy is surrendered
Long-term care policies sold in Washington may NOT exclude
coverage for - answer>>>Senile dementia
Maria the producer would like to advertise an annuity product on a
highway billboard. Which of the following must be included in the
advertisement? - answer>>>Her name
No insurance company may transact business in Washington
without a Certificate of _____. - answer>>>Authority
No legal action can be initiated after ___ years from the initial time
written proof of loss has been provided. - answer>>>3
One role of the Commissioner is to - answer>>>Enforce state
insurance laws
Producers must complete ___ hours of continuing education
biannually. - answer>>>24
,Proof of loss on a health (disability) insurance claim must be
submitted to an insurer within ___ days after the insured's date of
loss. - answer>>>90
Refusing an insurance applicant because of marital status is an
example of - answer>>>Illegal discrimination
Replacement can be BEST described as - answer>>>Exchanging
a new policy for one already in force
Replacement regulation is designated to protect -
answer>>>Policyowners from misrepresentations and loss of
benefits
Suitability is best described as - answer>>>Obtaining information
from the applicant to determine whether an insurance or annuity
product is appropriate
The _____ is responsible for determining the appropriateness of a
Medicare Supplement policy for an applicant -
answer>>>Producer
The act of using misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy is referred
to as - answer>>>Twisting
_____ is the authority given to a producer to sell, solicit, or
negotiate policies on the behalf of an insurer. -
answer>>>Appointment
, A _____ license may be issued in cases where a producer has
become disabled or dies, requiring a replacement to service the
producer's business. - answer>>>Temporary
A ______ is the person who is responsible for payment for a
health maintenance organization (HMO). - answer>>>Subscriber
A company that is chartered and organized in any country other
than the United States is called a(n) _____ company. -
answer>>>Alien
A company that is chartered and organized of the state in which
its home office is located is called a(n) - answer>>>Domestic
insurer
A disability policy where the premiums are due monthly require a
grace period of - answer>>>10 days
A domestic insurance company in Washington MUST -
answer>>>Be formed under the laws of Washington
A foreign insurance company doing business in Washington -
answer>>>Is a company that was formed under the laws of
another state
A group policy may be issued to a labor union. The members
eligible for insurance under the policy shall be - answer>>>All of
the members of the union
A licensee who informs an insured of inaccurate terms, benefits,
or advantages of any policy is committing which of the following
violations? - answer>>>Misrepresentation
A life insurance policy becomes incontestable after it has been in
force for - answer>>>2 years
INSURANCE EXAM-with 100% verified solutions
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 -
answer>>>She may need to resume premium payments,
depending on actual results
Life insurance replacement can be best described as -
answer>>>A transaction in which a new life insurance policy is
purchased and an existing life insurance policy is surrendered
Long-term care policies sold in Washington may NOT exclude
coverage for - answer>>>Senile dementia
Maria the producer would like to advertise an annuity product on a
highway billboard. Which of the following must be included in the
advertisement? - answer>>>Her name
No insurance company may transact business in Washington
without a Certificate of _____. - answer>>>Authority
No legal action can be initiated after ___ years from the initial time
written proof of loss has been provided. - answer>>>3
One role of the Commissioner is to - answer>>>Enforce state
insurance laws
Producers must complete ___ hours of continuing education
biannually. - answer>>>24
,Proof of loss on a health (disability) insurance claim must be
submitted to an insurer within ___ days after the insured's date of
loss. - answer>>>90
Refusing an insurance applicant because of marital status is an
example of - answer>>>Illegal discrimination
Replacement can be BEST described as - answer>>>Exchanging
a new policy for one already in force
Replacement regulation is designated to protect -
answer>>>Policyowners from misrepresentations and loss of
benefits
Suitability is best described as - answer>>>Obtaining information
from the applicant to determine whether an insurance or annuity
product is appropriate
The _____ is responsible for determining the appropriateness of a
Medicare Supplement policy for an applicant -
answer>>>Producer
The act of using misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy is referred
to as - answer>>>Twisting
_____ is the authority given to a producer to sell, solicit, or
negotiate policies on the behalf of an insurer. -
answer>>>Appointment
, A _____ license may be issued in cases where a producer has
become disabled or dies, requiring a replacement to service the
producer's business. - answer>>>Temporary
A ______ is the person who is responsible for payment for a
health maintenance organization (HMO). - answer>>>Subscriber
A company that is chartered and organized in any country other
than the United States is called a(n) _____ company. -
answer>>>Alien
A company that is chartered and organized of the state in which
its home office is located is called a(n) - answer>>>Domestic
insurer
A disability policy where the premiums are due monthly require a
grace period of - answer>>>10 days
A domestic insurance company in Washington MUST -
answer>>>Be formed under the laws of Washington
A foreign insurance company doing business in Washington -
answer>>>Is a company that was formed under the laws of
another state
A group policy may be issued to a labor union. The members
eligible for insurance under the policy shall be - answer>>>All of
the members of the union
A licensee who informs an insured of inaccurate terms, benefits,
or advantages of any policy is committing which of the following
violations? - answer>>>Misrepresentation
A life insurance policy becomes incontestable after it has been in
force for - answer>>>2 years
