Exam (elaborations)
CIP C14 Auto - Chapter 12 - Regulation of Automobile Insurance in Ontario, Consumer Protection
- Course
- Institution
CIP C14 Auto - Chapter 12 - Regulation of Automobile Insurance in Ontario, Consumer Protection
[Show more]
Seller
Follow
lydiaomutho
Content preview
CIP C14 Auto - Chapter 12 - Regulation ofAutomobile Insurance in Ontario,
Consumer Protection
1. Who is responsible for the administration of insurance law in Ontario? -
CORRECT ANSWER-The Financial Services Commission of Ontario (FSCO)
2. What three elements are included in the government regulatory structure for
insurance? - CORRECT ANSWER-The Commission or Board, the Financial
Services Tribunal, The Superintendent of Financial Services and staff
3. Who is responsible for the automobile insurance dispute resolution system? -
CORRECT ANSWER-The Director of Arbitration
4. What is the function of the Superintendent of Financial Services? - CORRECT
ANSWER-Responsible for administering and enforcing the Financial Services
Commission of Ontario Act
5. What legislation contains provisions for consumer protection? - CORRECT
ANSWER-The Insurance Act
6. What powers exist under the Insurance Act with respect to obtaining
insurance-related information from persons licensed under the Act? - CORRECT
ANSWER-The Superintendent may at any reasonable time examine the books,
securities, documents and things related to the business of an insurer, agent or
adjuster.
7. What possible practices of insurers are included in the definition of unfair or
deceptive practices of insurers within the Insurance Act? - CORRECT
ANSWER-- The commission of any act prohibited under the Act or the
regulations
- Any unfair discrimination between individuals
- Any unfair discrimination in any rate or schedule of rates between risks
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 lydiaomutho. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79976 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now