Exam (elaborations)
Chapter 8 Utah personal Lines (insurance) Questions with correct Answers
- Course
- Institution
Chapter 8 Utah personal Lines (insurance)
[Show more]
Content preview
Chapter 8 Utah personal Lines(insurance)
Which one of the following is considered to be an unfair claim settlement practices in
Utah?
a)Paying a claim without investigation
b)Compensating agents based on the insurer's savings that result from denying a claim
c)Trying, in good faith, to settle a claim for which liability has become reasonably clear
d)Paying a claim for covered medical treatment after preauthorization has been given -
answerB) Compensating agents based on the insurer's savings that result from denying
a claim
It is a(n) _________ to knowingly and intentionally transact insurance other than
through a qualified insurer. - answer Felony
How often can the Commissioner request any records of an insurer for the enforcement
of state statutes or to help the Commissioner in the performance of his/her duties? -
answerWhenever such records are deemed necessary
A licensee must report to the Commissioner any administrative action taken against the
person in another jurisdiction or by another regulatory agency in this state within ____
days of the final disposition of the administrative action. - answer30 days
In an action against the insurer on a contract entered into in violation of state insurance
laws, the ______ is bound by the terms of the contract. - answerInsured
Each insurer must file a _____________ with the Commissioner for any agent or
organization authorized to conduct business on the insurer's behalf. - answerCertificate
of Appointment
What must an individual have in order to transact insurance business? - answerA
license and an insurer's appointment
For a business entity, controlled business means insurance issued on the life, person,
or property of all of the following, except:
A) Partners
B) Fellow chamber of commerce members
C) Employees
D) Shareholders or directors - answerB) Fellow chamber of commerce members
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
