Producer surplus Study guides, Class notes & Summaries

MS Property & Casualty question and answers latest hrs & 3 of those hours ethics To renew a producer license which is been in affect more than 18 months, a producer must complete ___________ 12 hrs To renew a producer license which is been in effect for 18 months or less, a producer must complete________ of CE. 30 days A producer must report to the commissioner any administrative action taken against the producer in any jurisdiction, for by another governmental agency in the st...

AD Banker Property and Casualty Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% correct| Grade A Q: An insurer authorized to transact insurance in a particular state by that state's insurance department is known as: A - A resident insurer B - A domestic insurer C - A non-admitted insurer D - An admitted insurer Answer: D - An admitted insurer An admitted insurer is an insurer authorized to transact insurance in a particular state by that state's departm...

AD Banker Property and Casualty Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% correct| Grade A Q: An insurer authorized to transact insurance in a particular state by that state's insurance department is known as: A - A resident insurer B - A domestic insurer C - A non-admitted insurer D - An admitted insurer Answer: D - An admitted insurer An admitted insurer is an insurer authorized to transact insurance in a particular state by that state's departm...

NJ Title Insurance Exam 2022 Reloaded Questions And Answers. In 1869 in Paul vs Virginia case the the US Supreme Court ruled that insurance? Was not interstate Commerce. In 1944, in the South-Eastern Underwritters Association (SEUA) case, the U.S. Supreme Court ruled that insurance? Was interstate commerce and was subject to Federal regulation. The McCarran-Ferguson Act of 1945 states that individual states are subject to the authority of the? Federal Government Activities performed to ...

Underwriter - ANSWER-A person who selects risk for the insurer is Appointed by the gov - ANSWER-all of the following are true regarding the Oklahoma Insurance Commissioner EXCEPT Issued as often as necessary - ANSWER-Regarding the Oklahoma Insurance Department promulgating Rules and Regulations, which of the following is true? Glen Mulready - ANSWER-who is the Oklahoma Insurance commissioner Receive new business from an eligible surplus lines broker - ANSWER-XYX insurance company is ...

Indiana Laws and Department Rules Common to All Lines of Insurance Questions and Answers Graded A+ Which of the following is NOT correct regarding false statements by a person engaged in the business of insurance? A: Only written statements can be considered fraud B: Omissions of material fact on insurance application are fraud C: False statements about financial condition of an insurer are unlawful D: Statements made with the intent to deceive are unlawful A: Only written statements can be ...

1. define Globalisation the process through which nation- al economies, societies and cultures are becoming increasingly intercon- nected through global networks of trade, communication, transportation and immigration 2. where are levels of globalisation the highest 3. where are levels of globalisation the lowest 4. 3 Key Characteristics of Globalisa- tion between core countries, as a result of them having sorted out major do- mestic problems, giving them spare capacity to look to solve ...

The maximum fine for failing to adhere to a cease and desist order correct answer: $10,000 The business of insurance is regulated in Iowa by correct answer: The Insurance Commissioner If a producer fails to comply with the Iowa continuing education requirements correct answer: The producer's license will automatically terminate at expiration Surplus lines producers place coverage with correct answer: Nonadmitted companies A producer must notify the insurance division of a name c...

consumer surplus Answer the sum (of each unit sold) of the difference between what the buyer is willing to pay (given by the height of the demand curve) and the price the buyer actually pays (market price) how is consumer surplus calculated? Answer area beneath the demand curve and above market price for the number of units sold 1/2 base * height producer surplus Answer the difference between the price received by the seller (market price) and the minimum price the seller is willing to ...

Certificate of Authority correct answer: No insurance company may transact any insurance business in this state unless it has received a Certificate of Authority from the Department of Insurance to do so. When does Certificate of Authority expire? correct answer: Expires on the last day of April in each year and must be renewed annually. How often may the director or any of his or her examiners conduct an examination? correct answer: AS often as the director deems appropriate but will c...