TN-specific laws Flashcards
A long term care policy in TN must be
Guaranteed Renewable
The Tennessee Guarantee Association is subject to review and regulation by the commissioner. A financial statement must be submitted no later than ____________ of each year.
March 30th
When a Medicare Supplement policy is delivered to a policyholder, which of the following MUST accompany the policy?
Outline of Coverage
Who determines the education credits needed for a producer’s continuing education?
Commissioner of Commerce and Insurance
How often must the Commissioner examine each domestic company
Every 5 years
Who would qualify for a temporary license in Tennessee?
A surviving spouse of a deceased producer.
Which of the following is the purpose of the Tennessee Guaranty Association?
All of the Above = Avoid excessive delay in payment,
Avoid a loss to policyholders and claimant due to the insolvency of an insurer, charged to distribute the costs of protection to all insurers.
All of these insurance subjects qualify for continuing education credits in Tennessee EXCEPT
Motivating producers
When a life insurance application is completed, a Policy Summary must be given to the applicant. The Policy Summary MUST include
the premium cost for basic coverage applied for.
A licensed producer can be BEST described as a(n)
individual who places insurance on behalf of
anyone seeking insurance.
A long-term care policy sold in Tennessee MUST be
Guaranteed renewable
Which of these is NOT a legitimate insurance marketing practice for obtaining business from a competitor?
Reducing commissions in order to make a sale. (considered form of rebating)
If an insurance producer applicant is required to pass a written examination, what is also required?
A fingerprint-based criminal background check
