Exam (elaborations)
Delaware Licensing Exam
- Institution
- Sports Nutrition - Final Exam
Delaware Licensing Exam
[Show more]
Seller
Follow
Content preview
Delaware Licensing ExamThe Insurance Commissioner is empowered to:
A. Enforce state laws relating to insurance
B. Pass state laws relating to insurance
C. Write policy forms for mandatory insurance coverages
D. Set rates for mandatory insurance coverage - ANS-A. Enforce state laws relating to
insurance
An insurance company that generally fails to affirm or deny coverage of claims within a
reasonable period of time after receiving proof of loss may be found guilty of:
A. A breach of fiduciary responsibility
B. An improper claims practice
C. Defamation
D. Misrepresentation - ANS-B. An improper claims practice
Upon determining that a producer has violated the insurance law, the Insurance
Commissioner is required to take which of the following actions?
A. Place the licensee on probation immediately
B. Publish notice of the violation
C. Hold a hearing on the infraction
D. Submit the infraction to the department of insurance for review - ANS-C. Hold a
hearing on the infraction
The Insurance Commissioner may suspend, revoke, or deny a producer's license for all
of the following reasons except:
A. untrue statements on the license application
B. Conviction of a misdemeanor
C. Incompetency
D. Converting Funds - ANS-B. Conviction of a misdemeanor
Under the Automobile Insurance Plan (AIP), all of the following coverage are available
to the eligible owner of a private passenger vehicle except:
, A. Rental Reimbursement
B. PIP
C. Underinsured Motorist
D. BI - ANS-A. Rental Reimbursement
After paying a claim, an insurance company may have the right to pursue legal action
against the negligent party. This right is called:
A. Assignment
B. Other insurance
C. Subrogation
D. Action against the company - ANS-C. Subrogation
Jordan drives Larry's car. Both Jordan and Larry have a PAP. Which of the following
statements is correct concerning coverage if Jordan causes an accident?
A. Jordan's policy only will pay for any damage
B. Larry's policy only will pay for any damage
C. Larry's policy is primary and Jordan's is excess
D. Jordan's policy is primary and Larry's policy is excess - ANS-C. Larry's policy is
primary and Jordan's is excess
What is the most important provision on every policy?
A. Subrogation
B. Declaration
C. Endorsement
D. Any other provision - ANS-B. Declaration
The Insurance Commissioner in Delaware is:
A. An elected official
B. Appointed by the Governor
C. Appointed by the legislature with the approval of the governor
D. Nominated by the national associate of insurance commissioners - ANS-A. An
elected official
The liability limits of an insurance policy are applied to:
A. each vehicle
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 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 modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now