QUIZ - Section 3 Flashcards
Commissioner can suspend a permanent license without a hearing except:
A. conviction of any felony
B. None are exceptions
C. Client co -signing a loan
D. License revoked last 5 years
Client co-signing a loan
When can a partnership continue if a new partner joins?
A. After the new partner is issued a license by the department and the old license is terminated
B. After all the partners file a written notice with the commissioner within 45 days.
C. After the commissioner is notified and a new license is issued.
D. after the department is notified within 30 days and the changes are approved.
After the department is notified within 30 days and the changes are approved.
A subsidiary formed to insure the parent company is called an:
A. inter-insurance exchange
B. Co-op insurer
C. Captive insurer
D. Fraternal
Captive insurer
Every licensee shall prominently put their license number on all of the following except:
A. Phone book listing in the white pages
B. neighborhood advertising flyer
C. Price quote
D. Business cards
Phone book listing in the white pages
the actuarial department is responsible for:
A. receiving applications for insurance and then deciding if the company should approve or reject the application
B. advertising, promoting and distributing an insurer’s products to the public
C. Receiving claim requests, evaluating them and paying those claims that are covered by the terms of the contract and rejecting those that is not.
D. using claims history, statistics and computer data to predict losses.
using claims history, statistics and computer date to predict losses
Every applicant for a license to act as an agent must have filed with the commissioner:
A. a notice of appointment to do business in the state
B. a license number to be approved prior to receiving a license
C. an application for employment with the company employed with
D. a request for application prior to being licensed in the state
a notice of appointment to do business in the state
WOF is NOT true about the CA insurance code and the CA code of regulations?
A. the CIC is written, updated and changed by the California state legislature
B. The CIC gives the Commissioner the power to institute rules and regulations which are called the CCR
C. the department of insurance implements, enforces and monitors the CIC
D. The CIC and the CCR are a complete guide to ethical behavior
The CIC and the CCR are a complete guide to ethical behavior
To handle long term care insurance, an agent of more then four years must satisfy the continuing education requirement of:
A. 8 hours of LTC training each license term
B. A 4 hr course in each of the first 4 years of licensing
C. a 4 hr course in each of the first 2 years of licensing
D. an 8 hr course in each of the first 4 years of licensing
8 hours of LTC training each license term
In order to update, add or change a statute a bill must be passed by the legislature and then presented to the governor. If the statute is passed, it will go into effect:
A. on the next aug 1st
B. immediately
C. on the next fiscal years
D. on the next January 1st
On the next January 1st
Records must be made available to the commissioner:
A. at all times
B. upon written request
C. within 5 days
D. within 30 days
At all times
A Property and Casualty Agent is required to continue their education by completing:
a total of 100 hours during the first 4 years of licensing.
a total of 24 hours per license term.
a total of 25 hours during the first 2 years of licensing.
a total of 55 hours during the first 2 years of licensing
a total of 24 hours per license term.
Appointments are terminated:
any of these
license fees paid late
by either agent or insurer
termination of license
any of these
If someone has a Life Agent Combo and a Property/Casualty license for 10 years, then how many CE hours would be required in the current license term?
30 hours
50 hours
25 hours
24 hours
24 hours
For an agent or solicitor to be valid to transact requires:
neither are required
a proper license
both are required
an appointment
both are required
An organization ceases to exist as an entity eligible to hold a license upon all of the following EXCEPT:
upon dissolution of a co partnership or upon any change in membership of a co partnership.
upon the termination of an association.
upon the termination of a key employee.
upon dissolution of a corporation.
upon the termination of a key employee.