Failure to pay claims on a timely basis or to pay interest on late payments constitutes unfair claims settlement practices, unless what takes place?
The Commissioner issues an exemption for extenuating circumstances
The insured dies or no longer seeks payment of due claims
A court of law renders judgment and the person pays the insured all entitled benefits
If the insurer terminates the appointment, he must notify the Commissioner within __ days and mail a copy of the notification to the terminated producer within __ days.
45, 15
60, 30
30, 15
A person is forbidden from conducting insurance business without a license, unless the person is:
Acting only for a fraternal benefit society authorized to transact insurance in Michigan
Devoting less than 50% of his time to selling insurance
All of the above
All of the following acts fall under prohibited conduct EXCEPT:
A person maintaining or operating an office transacting insurance business, if they fail to comply to the state regulations
A solicitor failing to, in a timely manner, turn over all money owed
An agent selling insurance not by means of intimidation or threats
No insurer may pay a commission to a person who ______________________________.
is not licensed
is not employed by the insurer
is also insured by the insurer
is not, but is required, to be licensed
An agent may not accept payment of a premium for a Medicare supplemental policy in the form of __________________.
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