Market Regulations

Question 1

Which course case reversed the Paul US Virginia case of 1968?

Answer 1

S E U A case of 1944

Question 2

Every company in califonia is required to report its financial condition to the commissioner every year on…..

Answer 2

On or before March 1st

Question 3

The financial modernization act of 1999 aka the gramm leach Bailey act includes provisions to protect consumers personal financial information held by financial institutions. What are the 3 principal parts to the privacy requirements:

Answer 3

The financial privacy rule, safeguards rule and pretexting provisions

Question 4

Who administers the California administrative code of regulations?

Answer 4

Commissioner

Question 5

In the class of life and disability age and sex can be used to discriminate.

Answer 5

True

Question 6

Insurer has up to how many days to accept or deny a claim?

Answer 6

Under fair practices the insurer has up to 40 days to accept or deny a claim

Question 7

Which if the following is a penalty for violating the Insurance information and privacy protection act?

Answer 7

$50,000 fine for violations committed with regularity showing they are a general business practice

Question 8

If convicted of insurance fraud the fine can be…

Answer 8

Up to $150,000 and up to 5 years in state prison