Free Insurance Regulation Practice Questions
South Dakota Accident & Health exam — 134 practice questions.
Subtopics: Market conduct exams, Unfair claims practices, Defamation, Boycott coercion intimidation, Lines of authority, Temporary license, License fees, Unauthorized insurer, Guaranty association, Record retention, Reporting changes, Unfair discrimination, Advertising, Financial examination, Hearings and appeals, Insurance fraud, Director appointment, Examination of producers, Examination of insurers, Investigations, Cease and desist order, Monetary penalty, Penalty factors, License suspension, Grounds for discipline, Denial of license, Revocation, License ownership, Insurer types, Admission of foreign insurers, Minimum age, License requirements, Business entity, Exam exemption, Exam rules, License exemptions, Consultant, Moving out of state, Nonresident license, Assumed name, Reinstatement, Military waiver, Continuing education, Appointments, Termination of appointment, Reporting actions, Division inquiries, Influencing witnesses, Records, Fiduciary duty, Referral fees, Renewal commissions, Loans from clients, Unlicensed issuance, Unfair practices, Misleading policy name, Twisting, Rebating, Promotional gifts, Premium for no coverage, Insurance fraud unit, Fraud reporting immunity, Cease and desist, Policy delivery, Refund of unearned premium, Guaranty limits, Fair Credit Reporting Act, Fraud and false statements, Privacy GLBA, Affordable Care Act, Do Not Call, McCarran-Ferguson Act, HIPAA administrative simplification, Mental Health Parity, Newborns and Mothers Health Protection, Women's Health and Cancer Rights Act, Unfair trade practices, Claims practices, Producer licensing, HIPAA privacy, Genetic information, Medicare marketing, Guaranty associations, Regulatory structure, GLBA privacy, Telemarketing
Read the Insurance Regulation study guide
Sample questions & answers
1. To check whether a South Dakota health insurer is following the law in its claims and sales practices, the Director may conduct a:
Market conduct examination of the insurer
SDCL 58-2-22 authorizes examinations and investigations to determine whether any person has violated Title 58, and SDCL 58-3-1 authorizes examination of insurers' affairs and records.
2. A South Dakota health insurer that routinely fails to promptly investigate and pay valid claims may be committing:
Unfair claims settlement practices
SDCL 58-33-67 lists unfair claim practices, such as failing to acknowledge and act on claim communications within thirty days and failing to promptly explain a denial.
3. A producer who circulates a false statement that a competing insurer is financially unsound has likely committed:
Defamation of an insurer
SDCL 58-33-7 prohibits false or maliciously critical statements about an insurer's financial condition calculated to injure a person in the insurance business.
4. An agreement among insurers to refuse to deal with a competitor in order to restrain trade is an example of:
Boycott, coercion, and intimidation
SDCL 58-33-32 prohibits agreements or concerted acts of boycott, coercion, or intimidation that unreasonably restrain the business of insurance.
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.
