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ASK AN ADJUSTER Q & S
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ASK AN ADJUSTER Q & S 2024 - 2025Which,of,the,following,is,NOT,true,about,the,National,Association,of,Insurance,Commissioners?
A.,It,is,a,non-profit,coalition,of,state,insurance,agencies
B.,It,works,to,harmonize,state,insurance,laws,and,regulations
C.,It,provides,benefits,for,insurance,commissioners
D.,It,drafts,model,legislation,that,is,frequently,adopted,by,most,states,,ANS,-
,C.,It,provides,benefits,for,insurance,commissioners
Jill,wants,to,start,an,insurance,agency,selling,property,insurance.,As,such,,she,must,belong,to,a,Guaranty,
Association,,of,which,there,are,a,few,different,types.,Which,of,these,groups,would,best,fit,Jill's,needs?
A.,Florida,Property,Insurance,Guaranty,Association
B.,Florida,Workers',Compensation,Insurance,Guaranty,Association
C.,Florida,Life,&,Health,Insurance,Guaranty,Association
D.,Florida,Insurance,Guaranty,Association,,ANS,-,D.,Florida,Insurance,Guaranty,Association
The,Commissioner,of,Insurance,Regulation,oversees,the,Office,of,Insurance,Regulation.,Which,of,the,foll
owing,is,NOT,one,of,the,functions,of,the,OIR?
A.,Overseeing,licensing,of,all,adjusters,in,the,state,of,Florida.
B.,Enforcing,statutes,related,to,the,insurance,industry.
C.,Monitoring,the,financial,stability,of,insurers.
D.,Overseeing,licensing,of,all,insurers,in,the,state,of,Florida.,,ANS,-
,A.,Overseeing,licensing,of,all,adjusters,in,the,state,of,Florida.
The,Insurance,Guaranty,Association,is,a,mechanism,that,covers,claims,in,the,event,of:
A.,an,insured's,bankruptcy.
, B.,government,intervention.
C.,an,insurer's,insolvency.
D.,catastrophic,disaster.,,ANS,-,C.,an,insurer's,insolvency.
In,1945,Congress,passed,the,McCarran-Ferguson,Act.,What,does,that,act,do?
A.,Gives,the,Federal,government,the,authority,to,regulate,the,insurance,industry
B.,Makes,insurance,regulation,a,county,responsibility
C.,Gives,the,states,the,authority,to,regulate,the,business,of,insurance
D.,Provides,for,insurance,coverage,for,the,poor,,ANS,-
,C.,Gives,the,states,the,authority,to,regulate,the,business,of,insurance
Which,of,these,statements,about,foreign,insurers,in,Florida,is,TRUE?
A.,A,foreign,insurer,must,offer,lower,rates,,but,with,higher,deductibles,,than,domestic,insurers.
B.,A,foreign,insurer,can,usually,only,issue,insurance,to,someone,who,was,denied,coverage,by,domestic,in
surers.
C.,A,foreign,insurer,can,usually,only,issue,insurance,in,amounts,above,regular,policy,limits.
D.,A,foreign,insurer,does,not,need,a,certificate,of,authority,from,the,state,of,Florida,as,long,as,it,has,one,
from,its,home,state.,,ANS,-
,B.,A,foreign,insurer,can,usually,only,issue,insurance,to,someone,who,was,denied,coverage,by,domestic,i
nsurers.
Guaranty,Associations,are,funded,by:
A.,insurers.
B.,the,state.
C.,the,federal,government.
D.,the,insurance,commissioner.,,ANS,-,A.,insurers.
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