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8 Cards in this Set

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  • Back
With investigative consumer reports, the 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

b) 5

c) 10

d) 30
A) 3
Every producer licensed in Missouri must notify the Director of a change in his/her residence address within

a) 30 days

b) 30 days, and the notice must be in writing

c) 10 days

d) 10 days, and the notice must be in writing.
B) 30 days, and the notice must be in writing.
Who administers the Fair Credit Reporting Act?

a) the federal finance commission

b) a board of directors chosen by the president.

c)the federal trade commission.

d) the department of insurance.
C) The federal trade commission.
If an insurance company wishes to order an inspection report on an applicant to assist in the underwriting process, and if a notice of insurance information practices have been provided, the report could contain all of the following information, EXCEPT the applicants

a) prior insurance

b) ancestry

c) credit history

d) habits.
B) ancestry
The chief officer of the Department of isurance is a Director. All of the following statements concerning the Director are true, EXCEPT

a) The Director must be experienced in matters of insurance.

b)The Director must be a citizen fo Missouri.

c) The Director is appointed by the Governer.

d) The Director may also serve as an officer or Director for an unauthorized insurer.
D) The Director may also serve as an officer or Director for an unauthorized insurer.
In Missouri, it is illegal to receive a commission for the sale of insurance unless:

a) the payee holds a valid insurance producer license.

b) the payer holds a valid insurance producer license.

c) the insured gives written consent allowing the commission to be split.

d) the payor and payee both hold valid insurance producer license.
a) the payee holds a valid insurance producer license.

Insurers do not maintain producers license, however, they may only pay commissions to licensed producers.
The Missouri insurance code has set out standards for the investigations and disposition of claims arising under contracts and certificates of insurance. All of the following would be considered unfair claim practices, EXCEPT:

a) the insurance company require the claimant to submit proof of loss.

b) the insurer fails to provide necessary claim fors within 15 days of a request.

c) the insurer refuses a claim without conducting a reasonable investigation.

d) the insurance company fails to acknowledge information regarding a claim.
A) the insurance company require the claimant to submit proof of loss.

It is not an unfair claim practice if the insurance company require the claimant to submit a proof of loss.
A producer who includes a statement or omits a statement which, when taken in context of the whole presentation, may tend to mislead or deceive the persons addressed has committed:

a) defamation

b) twisting

c) coercion

d) misrepresentation
D) misrepresentation

Making false or misleading statements with the intent to defraud another is misrepresentation.