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Life Insurance Class- WV Laws, Rules, and Regulations test with 100- correct answers.
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Life Insurance Class- WV Laws, Rules, and Regulations test with 100- correct answers.
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Life Insurance Class-WV Laws, Rules, and
Regulations test with
100% correct answers
cease and desist - answer to stop or discontinue
coercion - answer Forceful act or threat aimed to influence a person to
act against their will
Commision - answer Payment to the agency by the insurance company
for placing insurance, usually a percentage of the policy premium
commissioner - answer The head of the state department of insurance.
exempt - answer not subject to a duty or obligation
, home office - answer insurer's headquarters, principal place of business
inducement - answer an offer that attempts to influence the other party
insolvent - answer unable to meet financial obligations
Reciprocity - answer A mutual interchange of rights and privileges
statute - answer A formal written law enacted by legislature; insurance
statutes can be found in the state Insurance Code
subpoena - answer An order for someone to appear as a witness or
submit testimony or evidence
Domestic Insurer - answer An insurance company that is incorporated in
the state.
Foreign Insurer - answer An insurance company that is incorporated in
another state.
Alien Insurer - answer An insurance company that is incorporated
outside the United States.
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