Free Insurance Regulation Practice Questions
Oregon Casualty exam (series 12-13) — 156 practice questions.
Subtopics: Producer definition, Solicit definition, License required, Minimum age, Prelicensing hours, Certificate validity, CPCU waiver, Passing score, Exam requirement, Testing vendor contract, Business entity license, Classes of license, Title license residency, Nonresident license, Service of process, Relocating producer, Moving out of state, Assumed business name, Change of address, Record retention, Entity affiliation notice, License expiration, CE hours, CE ethics hours, Flood CE, Lapsed license reinstatement, Military renewal waiver, Temporary license period, Temporary license uses, Temporary license sponsor, Grounds for discipline, Discipline options, Reporting actions, Criminal prosecution report, Appointment, Number of insurers, Agent of insurer, Termination for cause report, Copy to producer, Producer comments, Notice of termination, Termination without notice, Producer-initiated termination, Unlicensed commissions, Renewal commissions, Producer compensation, Personal lines service fees, Commercial service fees, Incidental charges, Incidental charge notice, Fee disclosure, Premium trust account, Permitted commingling, Trust account location, Trust account interest, Insurance consultant, Consultant exemptions, Consultant E&O, Adjuster P&C class, Regulator, Cease and desist hearing, Cease and desist timing, Restitution, Criminal referrals, Director inquiries, Civil penalty producer, Civil penalty insurer, Profit penalty, Criminal penalty, Rebating, Promotional items, Inducements in policy, Misrepresentation, Financial condition, Application misstatements, False advertising, Free competition, Unfair discrimination, Domestic violence, Age 65 discrimination, Undefined unfair practices, Controlled business, Controlled business limit, Annual privacy notice, Authorization duration, Authorization revocation, Unfair claim practices, Lowball offers, Claim acknowledgment, Director inquiry on claim, Claim investigation, Accept or deny, Delay letters, Limitations warning, Denial in writing, Overbroad releases, Rate standards, Excessive rate test, Purpose of rate law, Policy form approval, Form review period, Form disapproval, Certificate of authority, Fire premium tax, Fair Credit Reporting Act, Fraud and false statements, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Motor Carrier Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Twisting, CAN-SPAM Act, Guaranty association, Federal Insurance Office, Risk retention groups, Purchasing groups, Surplus lines (NRRA), Surplus lines insurers, Rate regulation, Rating laws, Advisory organizations, Unfair claims practices, Unfair trade practices, Misappropriation of premiums, Fraud reporting, Motor carrier financial responsibility, ERISA bonding, Producer licensing concepts, Agent vs broker, Gap insurance licensing, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. Under Oregon law, an "insurance producer" is a person who is required to be licensed to:
Sell, solicit or negotiate insurance
ORS 731.104 defines an insurance producer as a person required to be licensed to sell, solicit or negotiate insurance.
2. In Oregon, asking or urging a person to apply for a particular kind of insurance from a particular insurer is the statutory definition of:
Soliciting
ORS 731.104(3) defines "solicit" as attempting to sell a policy or asking or urging a person to apply for a particular kind of insurance from a particular insurer.
3. A person may sell, solicit or negotiate a class of insurance in Oregon only if the person:
Is licensed as a producer for that class
ORS 744.053 prohibits selling, soliciting or negotiating any class of insurance unless the person is licensed as an insurance producer for that class.
4. Before approving a resident producer license application, the Oregon Director must find that the individual is at least:
18 years of age
ORS 744.059(1)(a) requires the Director to find that the applicant is at least 18 years of age.
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.
