Times Flashcards

1
Q

What is the amount of time a primary beneficiary to die for a Common disaster clause to take affect

A

14-30

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2
Q

The employee usually has a period of ___ days after terminating from the group in order to exercise the conversion option. During this time, the employee is still covered under the original group policy.

A

30

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3
Q

grace period

A

30-31 days

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4
Q

free look

A

10

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5
Q

However, the insurer must provide __ days’ written notice to the policy owner that the policy is going to lapse

A

30

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6
Q

The accidental death rider pays some multiple of the face amount if death is the result of an accident as defined in the policy. Death must usually occur within ___ days of such an accident. (Indemnities)

A

90

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7
Q

Annuity contracts provide for a waiver of surrender charges if the annuitant is confined to a Long-term Care facility for at least ___ days.

A

30

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8
Q

Rollover and Transfer

A

60 days

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9
Q

Notice of Hearing: Any person (licensee) receiving written notification of the Commissioner’s order has __ days to respond back to the Commissioner and to request a hearing.

A

90 days

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10
Q

If a person whose license has been temporarily suspended demands a hearing, the Commissioner must hold the hearing within ___ days after receipt of the demand, or within ___ days of the effective date of a temporary license suspension issued after such demand, unless postponed by mutual consent

A

30 for both

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11
Q

Every filing containing a certification by the chief executive officer (CEO) of the insurer, attesting that the filing complies with the Washington Administrative Code (WAC), may be used immediately after the filing. Any other filing must be made at least ___ days in advance of any such issuance, delivery, or use.

A

30

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12
Q

The Commissioner may issue a temporary insurance agent license for the servicing of existing business, for a maximum of ____ days without requiring a written exam

A

180

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13
Q

To appoint an agent the insurer must file a notice of appointment with the Commissioner within ___ days from the date the agency contract is executed or after the first insurance application is submitted (whichever is later).

A

15

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14
Q

However, if the agent is deemed ineligible, the Commissioner will notify the insurer within ____ days

A

10

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15
Q

At least ___ days before the renewal date, the Commissioner will send the insurer an appointment renewal notification via e-mail identifying all the licensees whose appointments are about to expire

A

60

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16
Q

If a business entity terminates the affiliation of an insurance agent for cause, the Commissioner must receive notice of that termination by electronic submission within ___ days of the termination date

A

30

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17
Q

the Commissioner will send the insurer an appointment renewal notification via e-mail identifying all the licensees whose appointments are about to expire. If an insurer is registered for online services, ____ days’ notice will be provided. The payment of renewal fees must occur by the renewal date.

A

60

18
Q

Renewal Fees: 50% of the license renewal fee, 100%, and 200%

A

First 30 days=50%
31-60 days=100%
61days-12months=200%

19
Q

The insurance education provider must issue a certificate of completion within __ days after the completion of the course.

A

10

20
Q

Insurance agents must report any administrative action taken against them in another jurisdiction or by another governmental agency in this state to the Commissioner within ____ days of the final disposition.

A

30

21
Q

Within ____ days of the pretrial hearing, the agents must report to the Commissioner any criminal prosecutions brought forth against them. Both reports must include a copy of the order, consent to the order, and any other appropriate legal documents.

A

30

22
Q

The license may be revoked or suspended by an order delivered to the licensee within ___ days prior to the effective date, or by an order of a hearing effective no less than ___ days after the date of the order.

A

15 days prior to the effective date

or no less than 10 days after date of order

23
Q

Furthermore, the Commissioner may temporarily suspend a license by an order sent through the mail, not less than ___ days prior to the effective date.

A

3

24
Q

The order levying the fine must specify that the fine must be fully paid at a time between ___-___ days from the date of the order. If the fine is not paid by the due date, the Commissioner will revoke the licenses of the licensee

A

15-30

25
Q

When an insurer receives notification of a claim, it must acknowledge the receipt of such notice within ___ working days (or 15 working days for claims under group contracts)

A

10

26
Q

Unfair Trade practice: Utilizing a ___-day notice to increase premiums by a change of rates or to change the terms of a policy to the adverse interest of the insured

A

20

27
Q

Unfair Trade Practice: Effectuating a midterm change in rates or terms with less than __ days’ advance written notice to the named insured;

A

45

28
Q

Unfair Practice: Procuring any policy of insurance that is cancelable by less than ___ days advance notice for nonpayment of premium and ___ days for any other reason.

A

10

20 for any other reason

29
Q

A first party claimant must provide written notice of the basis of the cause of action to the insurer and the Commissioner ___ days prior to filing an action.

A

20

30
Q

The Commissioner must deliver seize and desist order to such person directly or mail it to the person by registered mail with return receipt requested. If the person violates the order after expiration of ___ days after the cease and desist order has been received, a maximum fine of $250 for each violation will be assessed.

A

10

31
Q

Every licensed person in this state must reply within __ business days to an inquiry of the Commissioner regarding the business of insurance. Failure to do so constitutes a violation of the Revised Insurance Code of Washington.

A

15

32
Q

Investigative Consumer Reports: Unlike consumer reports, these reports cannot be made unless the consumer is advised in writing about the report within ___ days of the date the report was requested

A

3

33
Q

The consumers must be advised that they have a right to request additional information concerning the report, and the insurer or reporting agency has ___ days to provide the consumer with the additional information.

A

5

34
Q

Duty of Replacing Insurance Company: Send each existing insurance company a written communication advising of the proposed replacement within ___ business days of the date that the application is received in the replacing insurance company’s home or regional office

A

3

35
Q

If the policy for which application is made or its policy summary does not contain an unconditional refund provision of at least ___ days, the policy summary must be delivered prior to delivery of the policy

A

10

36
Q

Upon reinstatement or renewal of a policy, the insured or beneficiary may provide a written request for a copy of the application. In response, an insurer must provide a copy within ___ days of the initial request. If a copy of the application is not provided, the application may not be used as evidence for subsequent actions

A

15

37
Q

If an insurer does not refund the premium within ___ days of return of the policy, an additional 10% penalty is added to any premium refund due

A

30

38
Q

If the benefits have not been paid to the beneficiary within ___ days of the receipt of proof of death, the insurer will be required to pay interest at the stated rate plus 3%

A

90

39
Q

Insurers are obligated to pay the proceeds of any benefits under a group life insurance policy within ___ days after the insurer receives satisfactory proof of death

A

30

40
Q

Temporary license - valid for ____ days; issued to maintain the existing business

A

180