Delaware Life Producer Exam Questions with Correct Answers 100% Already Passed A(n) _ may also perform the duties of a consultant. - Correct Answers producer What is an example of a producer's implied authority? - Correct Answers Collecting premiums The Commissioner may suspend or revoke a producer's license for - Correct Answers keeping premiums owed to the insurer An insurer is charged _ for submitting an application for a certificate of authority in Delaware. - Correct Answers $700 In Delaware, an insurer is prohibited from - Correct Answers making a political contribution to any candidate for the office of the Commissioner.Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party? - Correct Answers Subrogation The clause is an Accident and Health policy which defines the benefit amounts the insurer will pay is called the - Correct Answers Insuring clause Which of the following is NOT an example of a producer's breach of fiduciary duty? - Correct Answers allowing premiums to be submitted electronically Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that it is part of the contract? - Correct Answers Entire Contract What percentage of employees must participate in a noncontributory group life insurance plan? - Correct Answers 100% A licensee's business records must be maintained and made available for inspection by the Commissioner for a period of - Correct Answers 3 years When an existing life insurance policy is being reissued with a reduction in cash value, the producer must sign the - Correct Answers Notice Regarding Replacement of Life Insurance or Annuity 1 / 2
Which of the following statements about Credit Life insurance is true? - Correct Answers A debtor may use existing coverage already in force Long-Term Care insurance provides custodial coverage in the event an insured cannot - Correct Answers perform activities of daily living A producer must report a change in address to the Commissioner within - Correct Answers 30 days E&O (Errors and Omissions) insurance protects a(n) - Correct Answers producer against disgruntled clients To maintain continued coverage for a newborn under an accident and sickness policy, the policy owner must provide notification of birth and payment of premium to the insurance company within a MAXIMUM of how many days after birth? - Correct Answers Thirty-one Market Conduct examinations include all of these areas EXCEPT - Correct Answers producer contracts... it does include underwriting, marketing tactics, and advertising What is the basics of a producer's fiduciary responsibility? - Correct Answers Collecting premiums and paying them to the insurance company What action by a producer can be considered rebating? - Correct Answers Splitting commissions with a policyholder who has purchased additional coverage What is required for HIV testing of an applicant? - Correct Answers The applicant's written consent Ethics does NOT cover - Correct Answers license fees... it does cover good moral standing, suitability, and client's needs.The Commissioner must give _ days written notice prior to holding a hearing regarding a producer's violation of an unfair trade practice. - Correct Answers 20 days
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