Free Insurance Regulation Practice Questions
Utah Property & Casualty exam (series 17-04) — 175 practice questions.
Subtopics: Surplus lines notice, Surplus lines license, Premium tax, Unfair discrimination, Midterm cancellation, Nonrenewal notice, Prompt claim handling, Insurance fraud, Compulsory insurance, Recordkeeping, Court-ordered forfeiture, Continuing education, Guaranty limits, Appointed commissioner, Commissioner removal, Commissioner orders, Insurer examinations, Producer forfeiture, Insurer forfeiture, Continuing violations, Minimum age, Character requirements, Exam to license deadline, Fingerprinting, New resident exam waiver, Reporting actions, Reporting prosecutions, Lines of authority, Casualty line scope, Surplus lines license type, Limited line exams, Lapsed license reinstatement, Lapse for missing CE, Lapse waivers, Suspension length, Probation, Grounds for discipline, Past-due judgment, Appointment filing, Termination filing, Termination notice to producer, Termination for cause immunity, Agency appointments, Agency designation, License expiration, CE hours, Ethics CE, CE carryover, Insurer-provided CE, Association membership credit, Instructor credit, CE records, CE exemption, Flood training, Flood training and CE, Surplus lines experience, Consultant experience, Change of address, Record retention, Fiduciary funds, Commingling, Deposit deadline, Trust account interest, Diverting premiums, Misleading communications, Government implication, Boycott and coercion, Choice of insurer, Inducements, Social courtesies, Premium credit, Absorbing surplus lines tax, Loss control services, Controlled business, Sharing commissions, Referral fees, Producer for the insured disclosure, Dual capacity consent, Unlicensed sale validity, Fraudulent insurance act, Insurer fraud reporting, Fraud reporting channel, Guaranty WC claims, Guaranty unearned premium, Guaranty claim timing, Rate filing timing, Form filing, Policy name requirement, Misrepresentation, Oral promises, Copy of application, Breach of condition, Notice to agent, Late notice, Suit limitation, Waiting period to sue, Appraisal tolling, Cancellation grounds, Cancellation notice for grounds, Nonpayment notice, Commercial nonpayment notice, Agent copy of nonpayment notice, New business cancellation, Renewal premium notice, Renewal on worse terms, Late notice of new terms, Commercial rate increase, Reasons for cancellation, Coverage inquiries, Homeowners weather claim, Auto not-at-fault claim, Single speeding ticket, Risk-sharing plan notice, Multiyear policies, Premium finance cancellation, Claim acknowledgment, Claim forms, Accept or deny, Extended investigation, Statute of limitation notice, Denial references, Payment deadline, Unfair claim practices, Lowball offers, Private action, Joint underwriting associations, JUA exclusions, JUA earthquake, JUA deficits, Surplus lines tax, Surplus lines tax exemption, Surplus lines workers comp, Substandard surplus insurer, Surplus lines audits, Direct placement, Surplus lines advisory organization, Personal lines definition, Casualty definition, McCarran-Ferguson Act, Federal 1033 consent, FCRA permissible purpose, FCRA adverse action, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, 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. A policy written by a nonadmitted insurer under Utah's surplus lines law must carry a statement that the policy:
Gets no protection from Utah guaranty associations
Utah Code 31A-15-103(8)(c) requires the statement that the insurer lacks a Utah certificate of authority, is not fully regulated by the commissioner, and that the policy receives no protection from Utah's guaranty associations.
2. A producer who places business with nonadmitted insurers in Utah generally must hold a:
Surplus lines license
Utah Code 31A-15-103(3)(b) requires insurance placed with a nonadmitted insurer to be placed by a licensed surplus lines producer.
3. Insurers transacting business in Utah are generally subject to a state:
Premium tax on the premiums they collect
Utah Code 59-9-101 imposes a premium tax on admitted insurers (2.25% of premiums on Utah risks, workers' compensation assessed separately); it is not a sales tax paid by the insured.
4. Utah's prohibition on unfair discrimination generally prevents a property and casualty insurer from:
Charging equal risks different rates without justification
Unfair discrimination is treating insureds of the same class and hazard differently in rates or terms without a sound actuarial basis.
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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.
