Free Insurance Regulation Practice Questions
South Dakota Property exam — 209 practice questions.
Subtopics: Director examinations, Insurer examinations, Cease and desist orders, Monetary penalties, License suspension, Hearing notice, Grounds for discipline, License denial, Director authority, Record keeping, Domestic, foreign, alien, Authorized insurers, Certificate of authority, Admission of insurers, Stock and mutual insurers, Fraternal benefit societies, Insurance defined, Insurance business defined, Regulator, Producer defined, Solicit defined, License qualifications, Licensing exam, Exam exemptions, Lines of authority, License required, License exemptions, Consultants, Nonresident license, Change of address, Temporary license, Business entity license, Assumed name, Continuing education, CE extension, CE exemptions, Reinstatement, Military service, Extenuating circumstances, Revocation, Effect of suspension, License property, Appointment, Appointment termination, Agency contract termination, Post-termination rights, Commissions, Renewal commissions, Fiduciary duty, Misappropriation, Reporting actions, Reporting crimes, Influencing witnesses, Division inquiries, Loans from clients, Guaranty association, Misrepresentation, False advertising, Defamation, Twisting, Boycott and coercion, Coercion by lenders, Rebating, Promotional gifts, Value-added services, Advertising, Illegal inducement, Unfair discrimination, Prohibited charges, False applications, False claims, Private remedies, Cease and desist, Unfair claims practices, Aftermarket parts, Insurance fraud, Fraud prevention unit, Fraud penalties, Reporting fraud, Policy delivery, Application copy, Representations, Form filing, Rating restrictions, Cancellation notice, Cancellation reasons, Improper cancellation, Nonrenewal notice, Surplus lines, Surplus lines 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, Flood Disaster Protection Act, Biggert-Waters Reform Act, Federal Insurance Office, FAIR Plan origins, Coastal Barrier Resources Act, McCarran-Ferguson antitrust, Gramm-Leach-Bliley opt-out, Gramm-Leach-Bliley notice, FCRA investigative report, FCRA free report, TRIA certification, TRIA federal share, TRIA program trigger, TRIA insurer deductible, TRIA lines covered, TRIA disclosure, 18 USC 1033 penalty, Nonadmitted and Reinsurance Reform Act, Surplus lines diligent search, Exempt commercial purchaser, Guaranty association - surplus lines, Guaranty association purpose, Boycott, coercion, intimidation, Commingling premiums, Mandatory flood purchase amount, Force-placed flood, Private flood acceptance, HFIAA surcharge, Risk retention groups, Privacy model - adverse underwriting, Do Not Call existing relationship
Read the Insurance Regulation study guide
Sample questions & answers
1. How often may the South Dakota Director of Insurance examine the accounts and records of a licensed insurance producer?
As often as the Director deems advisable
SDCL 58-3-5 lets the Director examine the accounts, records, and transactions of any producer, surplus line broker, or general agent as often as the Director deems advisable.
2. Which persons may the South Dakota Director examine to check compliance with the insurance code?
Producers, surplus line brokers, and general agents
The Director may examine the records of any insurance producer, surplus line broker, or general agent, as well as persons who control or promote insurers (SDCL 58-3-5).
3. South Dakota law requires the Director to examine each domestic insurer at least once every:
Five years
Under SDCL 58-3-1 the Director must examine each domestic insurer not less frequently than every five years, and may examine any insurer as often as deemed advisable.
4. A South Dakota-domiciled property insurer was last examined by the Division four years ago. Under SDCL 58-3-1, the next examination must begin no later than:
Five years after the prior examination
Domestic insurers must be examined not less frequently than every five years (SDCL 58-3-1).
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.
