Wa state life insurance - Study guides, Class notes & Summaries
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Disability and Life Washington Test Correct 100%
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Insurance Commissioner - ANSWER Head of Office of Insurance Commissioner, is in charge of company supervision, consumer protection, and rates and forms. 
 
-Elected on a 4 year term 
-Pays 25k bond 
-Must examine records at least every 5 years 
Has Power to: 
-Issue rules to carryout or enforce the state insurance code 
-Hold investigations, 
-Hold examinations to see if anyone has broken the code. 
 
If commish has reason to believe someone has broken the code, they can: 
-Issue a cease and de...
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Insurance WA Law|| 150 Questions|| Correct Solutions(RATED A)
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Insurance transactions are governed by - ANSWER the legislators Insurance code. the insurance Commissioners administrative rules and regulations 
 
Commissioners term of office - ANSWER commissioner is elected by the voters to a four-year term 
 
commissioner powers - ANSWER investigate Insurance transactions. adopt rules to regulate unfair or disruptive acts and implement the legislatures insurance code. issue a cease and desist order to force compliance. prosecute a legal action to enforce the...
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Washington Laws and Rules Pertinent to Insurance Accurate 100%
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Violations of US Code Title 18 section 1033, may result in - ANSWER Fine and/or imprisonment 
 
Charles is a producer who is licensed in Washington but resides in Oregon. Charles is considered to be a(n) - ANSWER Nonresident producer 
 
Before a producer may sell, solicit, or negotiate insurance from an insurer, the producer must have a(n) - ANSWER Appointment 
 
The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred t...
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Life Insurance Test WA State Exam with Guaranteed Accurate Answers
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When does insured need an insurable interest? - correct answer when they buy insurance(not like property casualty where have to have at time of claim and not necessarily when buying) 
 
when is subrogation used? - correct answer not in life and seldom in health 
 
elimination period - correct answer what acts as the deductible in health insurance(the term deductible is not used in disibility insurance) - have to actually be disabled for a certian amount of time 
 
Annuity - correct answer provid...
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WA State Laws and Regulations for Life and Disability Insurance Latest Exam Questions And Answers 2023#2024 Definite Success Assured.docx
- Exam (elaborations) • 4 pages • 2023
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WA State Laws and Regulations for Life and Disability Insurance Latest Exam Questions And Answers 2023#2024 Definite Success A
And that's how you make extra money
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WA State exam|| 100 Questions|| Correct Answers|| Verified!!
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What disciplinary action will occur if a Washington broker disregards a child support order? - ANSWER License suspension 
 
When may a licensee receive compensation in Washington based on an appraisal result at or above a specific prearranged price? - ANSWER It's illegal in all circumstances. 
 
How is the Washington managing broker's exam presented? - ANSWER As a simulation-based exam 
 
In Washington, which agency is authorized to disseminate and enforce real estate licensing laws? - ANSWER ...
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Washington State Insurance Property & Casualty Exam Accurate 100%
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If a building under a BPP has been vacant over 60 days, the BPP will cover? - ANSWER Fire, Wind, Explosion, and Volcano are all covered after 60 days of vacancy 
 
A CGL provides liability coverage for: - ANSWER A person whose reputation is harmed by the insured's innocent dissemination of information. 
 
Law of Large Numbers - ANSWER A principle stating that the larger the number of similar exposure units considered, the more closely the losses reported will equal the underlying probability of...
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WA State Laws and Regulations for Life and Disability Insurance Latest Exam 2023
- Exam (elaborations) • 4 pages • 2023
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WA State Laws and Regulations for Life and Disability Insurance Latest Exam 2023WA State Laws and Regulations for Life and Disability Insurance Latest Exam 2023
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WA life and health State Insurance Laws Accurate 100%.
- Exam (elaborations) • 13 pages • 2024
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Every 2 year renewal period, a Producer must complete: - ANSWER 24 hrs of continuing education 
 
The Commissioner may suspend or revoke a Producer's license for any of the following: - ANSWER Guaranteeing dividends 
Rebating 
Twisting 
 
The Commissioner may: - ANSWER approve premium rates 
 
Jasmine knows that she must complete 24 hours of continuing education every two years to renew her life license. However, if she also obtains a casualty license, her total continuing education requirement...
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Washington state laws Correct 100%
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How often is the commissioner elected - ANSWER Every 4 years 
 
The commissioner may supply how much of a surety bond? - ANSWER $25,000 
 
Who is the commissioner - ANSWER Mike Kreidler 
 
The commissioner duties - ANSWER -Administrate and enforce the provisions of the insurance code 
-Make reasonable rules and regulations for effectuating any provision of the insurance code 
-conduct investigation to determine whether any person or company has violated any provisions of the insurance code. 
-t...
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