Free Insurance Regulation Practice Questions
Oregon Property & Casualty exam (series 12-04) — 151 practice questions.
Subtopics: Competitive workers comp, Workers comp division, Surplus lines, Surplus lines license, Unfair discrimination, Midterm cancellation, Prompt claim handling, Certificate of authority, Compulsory insurance, Restitution, Guaranty limits, Nonrenewal notice, Insurance fraud, Rate standard, Disciplinary authority, SAIF Corporation, Residual property market, 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, 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, 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, Excessive rate test, Purpose of rate law, Policy form approval, Form review period, Form disapproval, Fire premium tax, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Unfair claims settlement, Anti-money laundering, Fraud warning statements, Federal Insurance Office, Surplus lines regulation, Risk retention groups, Unfair trade practices, Fiduciary duties, Insurer solvency, Producer licensing, Fraud, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. Which statement about who writes workers' compensation insurance in Oregon is correct?
Authorized private insurers and SAIF Corporation both write it
Oregon employers may be carrier-insured through private insurers or SAIF, which ORS 656.751 creates as an independent public corporation; employers may also qualify to self-insure.
2. Oregon's workers' compensation law (ORS chapter 656) is administered by the:
Director of Consumer and Business Services
ORS 656.726 gives the Director of DCBS the duties and powers to carry out the workers' compensation law (through its Workers' Compensation Division), with the Workers' Compensation Board reviewing appeals.
3. Surplus lines (nonadmitted) insurers may generally be used in Oregon when:
A diligent search shows admitted insurers will not write it
ORS 735.410(1) allows placement with an eligible surplus lines insurer only after a diligent search among authorized insurers shows the full amount or kind of coverage cannot be obtained (exempt commercial purchasers excepted).
4. A producer who places business with nonadmitted insurers in Oregon generally must hold a:
Surplus lines license
Placement with nonadmitted insurers is done through a surplus lines licensee; Oregon surplus lines producers must also hold a P&C license and pass the surplus lines exam.
All Property & Casualty 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.
