Tennessee laws and rules - Study guides, Class notes & Summaries

In Tennessee, the MAXIMUM fine that the Commissioner can impose on a procedure is ___ per violation -$500 -$1,000 -$1,500 -$2,000 - Answer -$1,000 When a life insurance application is completed, a Policy Summary must be given to the applicant. The policy summary MUST include -the insurer's AM best rating -the producer's address -cash value rate -the premium cost for basic coverage applied for - Answer -the premium cost for basic coverage applied for A business entity can be d...

Who is responsible for regulating the state pesticide laws of Tennessee?Correct Answer: TDA What state agency regulates all pesticide use within Tennessee, issue certification for use of restricted use pesticide, and enforces regulations dealing with pesticide safety, handling, application, and disposal of pesticide?Correct Answer: TDA Who establishes qualifications and administers examinations for individuals to become commercial and licensed pest control operators in order to app...

In Tennessee, the MAXIMUM fine that the Commissioner can impose on a procedure is ___ per violation -$500 -$1,000 -$1,500 -$2,000 Correct Answer: -$1,000 When a life insurance application is completed, a Policy Summary must be given to the applicant. The policy summary MUST include -the insurer's AM best rating -the producer's address -cash value rate -the premium cost for basic coverage applied for Correct Answer: -the premium cost for basic coverage applied for A business ent...

Chapter exam-Tennessee laws and rules questions with correct answers

All of these statements regarding referrals are true EXCEPT: -The Commissioner may establish by rule a maximum amount for each referral -The person making the referral may not discuss the specific policy terms and conditions -Referral fees may not be tied to the purchase of a policy -Referral fees must be filed and approved with the Commissioner of Insurance - Answer Referral fees must be filed and approved with the Commissioner of Insurance Unfair discrimination is BEST described as - ...

Which of the following is an example of defamation? Correct Answer: Circulating brochures that falsely denounce the financial condition of an insurer Which of these is NOT a fair marketing practice when an existing insurance policy is being replaced? Correct Answer: Reduce the cost by lowering the commission In Tennessee, a(n) _______ insurance company is one formed under the laws of a state outside of Tennessee. Correct Answer: foreign If an insurance producer applicant is required ...

The definition of a business entity includes - Answer an association or a limited liability company If the Commissioner wishes to conduct a hearing regarding a producer, - Answer a notice must be sent by registered or certified mail to the licensee's current address of record The Commissioner must examine each domestic insurance company AT LEAST every - Answer 3 years Which of the following statements regarding referral fees is CORRECT? - Answer The commissioner may establish b...

The definition of a business entity includes Correct Answer: an association or a limited liability company If the Commissioner wishes to conduct a hearing regarding a producer, Correct Answer: a notice must be sent by registered or certified mail to the licensee's current address of record The Commissioner must examine each domestic insurance company AT LEAST every Correct Answer: 3 years Which of the following statements regarding referral fees is CORRECT? Correct Answer: The commissi...

Rebating is an unfair trade practice and is regulated by law. All of the following would be considered to be rebating EXCEPT. A. An agent offers tickets to a baseball game as an inducement to buy insurance. B. An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him. C. An agent offers the use of his lake house to person as an inducement to buy. D. An agent offers to share his commission with a policyholder. Correct Answer: An agen...

Foreign - Answer In Tennessee, a(n) ________insurace company is one formed under the laws of a state outside of Tennessee. 3 Days - Answer The commissioner notifies the association of an insolvent insurer no later than _______after receiving notice of the insurer's insolvency Circulating brochures that falsely denounce the finically condition of an insurer - Answer Which of the following is an example of defamation? Policy Summary - Answer J applies for an insurance policy. Wha...