WASHINGTON LIFE AND HEALTH
STATE INSURANCE LAWS TEST WITH
QUESTIONS AND ANSWERS.
Every 2 year renewal period, a Producer must complete: - ANS 24 hrs of continuing education
The Commissioner may suspend or revoke a Producer's license for any of the following: - ANS
Guaranteeing dividends
Rebating
Twisting
The Commissioner may: - ANS approve premium rates
Jasmine knows that she must complete 24 hours of continuing education every two years to
renew her life license. However, if she also obtains a casualty license, her total continuing
education requirement every two years will be: - ANS 24 hours
A Producer must keep transaction records for: - ANS 5 years
Each of the following activities requiring a Washington insurance license is considered an illegal
"unlicensed activity" - ANS Determining the appropriate policy to cover the applicant's risk
Acting as an independent adjuster
Explaining policy provision
Unless a whole life policy's loan interest rate is determined by Moody's Corporate Bond Yield
Average as approved by the Commissioner, the maximum loan interest rate will be: - ANS 8%
Selling insurance in Washington without an insurance Producer license is a: - ANS Class B
felony
An Insurer formed in Wyoming is referred to as? - ANS a foreign Insurer
An unlicensed office person working in a Washington insurance office may: - ANS Perform
normal duties NOT involving selling insurance
Every 5 years, the Washington Insurance Commissioner is required to examine the financial
records of: - ANS Insurers
An applicant for a Nonresident License must have: - ANS A corresponding license from the
other state.
The Commissioner has notified a Producer of a hearing regarding a licensing violation. The
Producer is concerned that the Commissioner may be biased against her. She may choose to in
, effect disqualify the Commissioner and demand a hearing before: - ANS an administrative law
judge
Molly decided to drop the coverage under her policy partway through the policy period. She has
notified the Insurer and has returned the policy. The Insurer must send Molly a: - ANS short rate
refund of unearned premium.
Assume that a Life or Disability Insurer is unable to pay a claim due to insolvency. The
beneficiary knows that the Guaranty Fund has a $500,000 maximum. If the beneficiary was
named a primary beneficiary by an Insured who had three $1,000,000 policies from the insolvent
Insurer, the Guaranty Fund will pay: - ANS $500,000 because the $500,000 maximum is a
maximum per person.
The Commissioner has scheduled a hearing regarding the suspension of Q's Producer license. Q
prefers not to have the hearing with the Commissioner. Washington law permits Q to request a
hearing with: - ANS an administrative law judge
Every Insurer ad must state which of the following: - ANS the full name of the insurer
A Washington whole life policy must provide for policy loans at an interest rate no greater than?
- ANS 8%
When an Insured dies the Insurer will owe interest on the death benefit. When does the interest
begin to accrue? - ANS when the Insured dies
Q has given a cash premium to a Producer. How long does the Producer have to provide a signed
premium receipt? - ANS 1 business day
A Washington Insurer may discriminate against an applicant due to: - ANS bona fide statistical
differences in risk based on sex, marital status, mental handicap, or physical handicap
Mr. Shakespeare recently died. Mrs. Shakespeare files a death claim with the group life insurer.
The insurer must pay the death claim within what time period after the claim was submitted? -
ANS 30 days
Under Washington law, a Producer is required to respond to a Commissioner inquiry within: -
ANS 15 days
The license of a Temporary Agent is effective for: - ANS Only 180 days
A local insurance firm has just terminated one of its most active Producers. The firm must keep
copies of the Producer's records for: - ANS 5 years
The Premium Receipt must be delivered within 1 business day and must contain each of the
following EXCEPT - ANS the policies deductible, exclusions, & producer's commission
STATE INSURANCE LAWS TEST WITH
QUESTIONS AND ANSWERS.
Every 2 year renewal period, a Producer must complete: - ANS 24 hrs of continuing education
The Commissioner may suspend or revoke a Producer's license for any of the following: - ANS
Guaranteeing dividends
Rebating
Twisting
The Commissioner may: - ANS approve premium rates
Jasmine knows that she must complete 24 hours of continuing education every two years to
renew her life license. However, if she also obtains a casualty license, her total continuing
education requirement every two years will be: - ANS 24 hours
A Producer must keep transaction records for: - ANS 5 years
Each of the following activities requiring a Washington insurance license is considered an illegal
"unlicensed activity" - ANS Determining the appropriate policy to cover the applicant's risk
Acting as an independent adjuster
Explaining policy provision
Unless a whole life policy's loan interest rate is determined by Moody's Corporate Bond Yield
Average as approved by the Commissioner, the maximum loan interest rate will be: - ANS 8%
Selling insurance in Washington without an insurance Producer license is a: - ANS Class B
felony
An Insurer formed in Wyoming is referred to as? - ANS a foreign Insurer
An unlicensed office person working in a Washington insurance office may: - ANS Perform
normal duties NOT involving selling insurance
Every 5 years, the Washington Insurance Commissioner is required to examine the financial
records of: - ANS Insurers
An applicant for a Nonresident License must have: - ANS A corresponding license from the
other state.
The Commissioner has notified a Producer of a hearing regarding a licensing violation. The
Producer is concerned that the Commissioner may be biased against her. She may choose to in
, effect disqualify the Commissioner and demand a hearing before: - ANS an administrative law
judge
Molly decided to drop the coverage under her policy partway through the policy period. She has
notified the Insurer and has returned the policy. The Insurer must send Molly a: - ANS short rate
refund of unearned premium.
Assume that a Life or Disability Insurer is unable to pay a claim due to insolvency. The
beneficiary knows that the Guaranty Fund has a $500,000 maximum. If the beneficiary was
named a primary beneficiary by an Insured who had three $1,000,000 policies from the insolvent
Insurer, the Guaranty Fund will pay: - ANS $500,000 because the $500,000 maximum is a
maximum per person.
The Commissioner has scheduled a hearing regarding the suspension of Q's Producer license. Q
prefers not to have the hearing with the Commissioner. Washington law permits Q to request a
hearing with: - ANS an administrative law judge
Every Insurer ad must state which of the following: - ANS the full name of the insurer
A Washington whole life policy must provide for policy loans at an interest rate no greater than?
- ANS 8%
When an Insured dies the Insurer will owe interest on the death benefit. When does the interest
begin to accrue? - ANS when the Insured dies
Q has given a cash premium to a Producer. How long does the Producer have to provide a signed
premium receipt? - ANS 1 business day
A Washington Insurer may discriminate against an applicant due to: - ANS bona fide statistical
differences in risk based on sex, marital status, mental handicap, or physical handicap
Mr. Shakespeare recently died. Mrs. Shakespeare files a death claim with the group life insurer.
The insurer must pay the death claim within what time period after the claim was submitted? -
ANS 30 days
Under Washington law, a Producer is required to respond to a Commissioner inquiry within: -
ANS 15 days
The license of a Temporary Agent is effective for: - ANS Only 180 days
A local insurance firm has just terminated one of its most active Producers. The firm must keep
copies of the Producer's records for: - ANS 5 years
The Premium Receipt must be delivered within 1 business day and must contain each of the
following EXCEPT - ANS the policies deductible, exclusions, & producer's commission
