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Kansas Insurance Life and Health PreStudy Course Questions and Answers $11.49   Add to cart

Exam (elaborations)

Kansas Insurance Life and Health PreStudy Course Questions and Answers

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  • Course
  • Kansas Insurance Life
  • Institution
  • Kansas Insurance Life

Producer Ans- An individual and/or an entity authorized in writing (through a company contract) by a lawfully qualified insurance company to transact, negotiate, or effect contracts of insurance on behalf of that insurance company. Resident Producer Ans- A person that resides in a state and ...

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  • August 2, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Kansas Insurance Life
  • Kansas Insurance Life
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Kansas Insurance Life and
Health PreStudy Course
Questions and Answers


Producer


Ans- An individual and/or an entity authorized in writing (through a company

contract) by a lawfully qualified insurance company to transact, negotiate, or

effect contracts of insurance on behalf of that insurance company.




Resident Producer


Ans- A person that resides in a state and is licensed to "transact insurance

business" for at least one insurer in that same state.




Non-Resident Producer

,Ans- A producer that is licensed in their home state (where they reside) & has

written permission (a non-resident license) to sell in a state in which they do not

live.




The Commissioner of Insurance


Ans- Primary purpose is to enforce insurance code, 4 year term, administers or

regulates existing laws that have ALREADY been passed by the Legislature.

Does not make or change laws, but does have the power to make reasonable

rules or regulations to ensure existing laws are being followed.




Commissioner's Fines


Ans- $1,000 for each unintentional act, $2,000 for each intentional act




Fines of a Cease and Desist order


Ans- 6/mo period up to $1,000 per violation up to a max of $10,000

unintentional, $5,000 per violation up to $50,000 intentional




Continuing Education

, Ans- In order to keep your license, you must complete your continuing

education requirements. Your CE must be completed every two years (Biennium)

by your birthday. 12 hours for life and health.




Misrepresentation of Policies and Applications by Producers


Ans- If a producer knowingly gives false information or untrue comparisons of

any policy's benefits, advantages, or dividend schedule of either an existing

policy or the one that the producer is trying to sell; this also includes any

misinformation about any company's financial condition or its reserves.




Twisting


Ans- The practice of misleading clients towards one's own insurance coverage.




Insurance Company Advertising Compliance


Ans- The insurance company must submit a letter of compliance to the Kansas

Insurance Department as condition for advertising in Kansas stating that the

company agrees to comply with Kansas laws pertaining to insurance regulations.

Advertisements should be submitted to your company for approval prior to

being used. The information used in the advertisement is then kept on file at

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