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Utah Life & Health Final Exam Questions Correctly Answered. An applicant is denied insurance because of information found on a consumer report. Which of the following requires that the insurance company supply the applicant with the name and address of the consumer reporting company? A. Condi...

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  • November 23, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • utah
  • utah life health final exam questions correctly

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  • UTAH.
  • UTAH.

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Utah Life & Health Final Exam Questions
Correctly Answered.
An applicant is denied insurance because of information found on a consumer report. Which of the
following requires that the insurance company supply the applicant with the name and address of the
consumer reporting company?



A. Conditional receipt

B. Disclosure rule

C. Fair Credit Reporting Act

D. Consumer Privacy Act - CORRECT ANSWER C. Fair Credit Reporting Act



When handling premium funds in the conduct of their business, insurance producers act in a(n)...



A. Accounting capacity.

B. Financial capacity.

C. Special capacity.

D. Fiduciary capacity. - CORRECT ANSWER D. Fiduciary capacity.



Under the Affordable Care Act, what percentage of preventive care must be covered without cost
sharing?



A. 25%

B. 50%

C. 80%

D. 100% - CORRECT ANSWER D. 100%



For how many years must an insurance producer be licensed prior to adding surplus lines to their
repertoire?

A. 2 years

, B. 1 year

C. 3 years

D. 4 years - CORRECT ANSWER C. 3 years



In a circumstance that would warrant license suspension, the Commissioner may instead decide to put
the license on probation. What is the maximum number of months that the probation could last?



A. 6

B. 12

C. 18

D. 24 - CORRECT ANSWER D. 24



All of the following are true regarding rebates EXCEPT?



A. Rebates are allowed if it's in the best interest of the client.

B. Rebates are only allowed if specifically stated in the policy.

C. Rebating can be anything of economic value, given as an inducement to buy.

D. Dividends are not considered to be rebates. - CORRECT ANSWER A. Rebates are allowed if it's in the
best interest of the client.



Which of the following would NOT be considered an unfair and deceptive practice?



A. Rebating

B. Defamation

C. Misrepresentation

D. Controlled business - CORRECT ANSWER D. Controlled business



An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance
policy. The agent is guilty of?

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