Free Insurance Regulation Practice Questions
Michigan Life, Accident & Health exam (series 16-80) — 183 practice questions.
Subtopics: Regulatory authority, Director, Continuing education, Ethics requirement, License renewal cycle, Acts requiring license, Appointment, Termination notice, Reporting actions, Rebating, Twisting, Misrepresentation, Guaranty association, Guaranty advertising, Annuity guaranty cap, Free look, Replacement, Fiduciary funds, License action, Unfair discrimination, Cease and desist, Temporary license, Nonresident license, Address change, Prelicensing, Commission sharing, Recordkeeping, Annuity best interest, Reinstatement of license, External review, CE ethics hours, CE carryover, CE grace period, CE waiver, CE association credit, Licensing qualifications, Prelicensing education, Exam waivers, Moving to Michigan, Nonresident licensing, Address reporting, Assumed names, Business entity license, Appointments, Termination of appointment, License denial, Disciplinary actions, Hearings, Penalties, Claims handling, Unfair claims practices, Complaint handling, Fiduciary duties, Coercion, Commissions, License exemptions, Insurance fraud, Privacy, Data security, Criminal prosecution reporting, Boycott, coercion, intimidation, Defamation, False statements, Lines of authority, Prompt payment of health claims, Long-term care training, Federal fraud statute, Fair Credit Reporting Act, Do Not Call, Illustrations, Disclosure, McCarran-Ferguson Act, NAIC, CAN-SPAM Act, Advertising, State regulation, HIPAA privacy, Anti-money laundering, Unfair trade practices, Fiduciary duty, Producer licensing, Insurer authorization, Senior designations, HIV testing
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Sample questions & answers
1. The Michigan agency that regulates life, accident, and health insurance is the:
Department of Insurance and Financial Services (DIFS)
MCL 500.102 defines the department as the Department of Insurance and Financial Services, which regulates life, accident, and health insurers and producers.
2. Who administers and enforces the Michigan Insurance Code?
The Director of DIFS
MCL 500.102 provides that "commissioner" means the director of DIFS, who administers and enforces the Insurance Code.
3. Michigan resident producers generally must complete how many CE hours each renewal period?
24 hours
At least 24 hours of approved CE are required in each 2-year period, including at least 3 hours of ethics.
4. Part of a Michigan producer's continuing education each period must cover:
Ethics
At least 3 of the 24 CE hours in each 2-year period must be in ethics in insurance classes or coursework, and ethics hours cannot be carried forward.
All Life, Accident & Health topics
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
