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Washington Insurance Exam Study Guide: Laws and Rules for 2025/2026 QUESTIONS AND ANSWERS, Exams of Insurance law

Trinity Washington UniversityInsurance law

This study guide provides a comprehensive overview of washington state insurance laws and rules relevant to the insurance exam. It covers key topics such as producer licensing, insurance company regulations, unfair claims settlement practices, and replacement regulations. The guide presents multiple-choice questions and answers, offering valuable insights into the exam's content and format. This resource is particularly useful for individuals preparing for the washington insurance exam, helping them understand the legal framework and ethical considerations surrounding insurance practices in the state.

Typology: Exams

2024/2025

Available from 03/25/2025

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WASHINGTON LAWS AND RULES PERTINENT TO
INSURANCE EXAM 2024/2025
1. What may be the consequence of violating US Code Title 18, Section 1033?
A: Fine and/or imprisonment.
2. Charles, a producer licensed in Washington but residing in Oregon, is considered what type of
producer?
A: Nonresident producer.
3. Before selling, soliciting, or negotiating insurance for an insurer, what must a producer have?
A: An appointment.
4. What is the term for using misrepresentation to persuade an insured to cancel their current policy
and buy a new one?
A: Twisting.
5. Which of the following is an example of unfair claims settlement practices?
A: Denying a claim without giving a reason for the denial.
6. What is one of the roles of the Insurance Commissioner?
A: Enforce state insurance laws.
7. How many days does a producer licensed in Washington have to notify the Commissioner about an
address change?
A: 30 days.
8. In a health insurance advertisement, what must be clearly identified?
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Download Washington Insurance Exam Study Guide: Laws and Rules for 2025/2026 QUESTIONS AND ANSWERS and more Exams Insurance law in PDF only on Docsity!

WASHINGTON LAWS AND RULES PERTINENT TO

INSURANCE EXAM 2024/

  1. What may be the consequence of violating US Code Title 18, Section 1033? A: Fine and/or imprisonment.
  2. Charles, a producer licensed in Washington but residing in Oregon, is considered what type of producer? A: Nonresident producer.
  3. Before selling, soliciting, or negotiating insurance for an insurer, what must a producer have? A: An appointment.
  4. What is the term for using misrepresentation to persuade an insured to cancel their current policy and buy a new one? A: Twisting.
  5. Which of the following is an example of unfair claims settlement practices? A: Denying a claim without giving a reason for the denial.
  6. What is one of the roles of the Insurance Commissioner? A: Enforce state insurance laws.
  7. How many days does a producer licensed in Washington have to notify the Commissioner about an address change? A: 30 days.
  8. In a health insurance advertisement, what must be clearly identified?

A: The insurer.

  1. How long must a life insurance policy be in force before it becomes incontestable? A: 2 years.
  2. Why do advertising regulations exist? A: To ensure full and truthful disclosure to the public.
  3. When replacing a Medicare Supplement insurance policy, who is required to sign the notice of replacement? A: Both the producer and the applicant.
  4. What is the minimum benefit period for a Long-Term Care policy? A: 12 months.
  5. How long after providing proof of loss can legal action be initiated? A: 3 years.
  6. What must a producer provide to an applicant when replacing a life insurance policy? A: Notice Regarding Replacement.
  7. Under what condition can a Medicare Supplement policy be canceled? A: Nonpayment.
  8. What is a company called that is chartered and operates in the state where its home office is located? A: Domestic insurer.
  1. What is required for an insurer to legally conduct business in a state? A: Certificate of Authority.
  2. What is an example of a producer’s fiduciary duty? A: Recording and remitting premiums to the insurance company.
  3. Who is responsible for determining if a Medicare Supplement policy is suitable for an applicant? A: The producer.
  4. Which of the following is NOT considered an act of "transacting insurance"? A: Gathering information from prospective buyers.
  5. In a controversy between the insured and the insurance company, who does the producer represent? A: The company.
  6. What does "inducement" mean in the insurance context? A: Offering something valuable in exchange for entering into an insurance contract.
  7. Which of the following is NOT considered an Unfair Claims Settlement practice? A: Settling a claim through arbitration.
  8. How does the Life and Disability Guaranty Association fund its operations? A: By assessing member insurers.
  9. Which of these is not a characteristic of a Fraternal Benefit Society? A: Exists for profit.
  1. What provision states that the policy and the application constitute the entire contract? A: Entire contract provision.
  2. What is the term for a producer making malicious public statements about an insurer's financial condition? A: Defamation.
  3. What is a foreign insurance company in Washington? A: A company formed under the laws of another state.
  4. What must an insurer offer every long-term care applicant at the time of purchase? A: Inflation protection.
  5. How long does an individual life insurance policyholder have to reinstate a lapsed policy? A: 3 years.
  6. What is required in terms of disclosure regulation when issuing a life insurance policy? A: Delivery of a buyer's guide and disclosure document.
  7. When can commissions be shared between two producers? A: When both are licensed in the same line of business.
  8. How many hours of education must someone complete to sell long-term care insurance? A: 8 hours.
  9. What must an insurer do during an examination of its records by the Commissioner? A: Not impede the examination.
  1. A ______ is the person who is responsible for payment for a health maintenance organization (HMO)? A: Subscriber.
  2. To be classified as a small employer in Washington, an employer must employ how many employees? A: 1-50 employees.
  3. A producer license applicant must be at least how many years of age? A: 18.
  4. A type of policy that would help pay for uncovered Medicare claims is called what? A: Medicare Supplement.
  5. A person who is not a legal resident of Washington may be licensed to act in this state as a(n) _____ insurance provider without taking a written examination? A: Nonresident.
  6. After a disability policy has been in force for how many year(s), it is considered incontestable? A:2.
  7. Twisting is what? A: Replacing an insurance policy from one insurer to another based on misrepresentation.
  8. Long-term care policies sold in Washington may NOT exclude coverage for what? A: Senile dementia.
  9. A policyholder's unmarried child is incapable of self-support due to a physical disability. The child is provided medical care coverage under the parent's policy until when? A: Until policy termination with proof of incapacity.
  10. What may be the result of replacing an existing life insurance policy with a new one? A:Surrender charge.
  1. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? A: Promptly.
  2. Replacement regulation is designated to protect whom? A: Policyowners from misrepresentations and loss of benefits.
  3. Greg had recently been terminated from his job that covered him for group life insurance. How long does he have to convert his coverage to an individual policy? A: 31 days.
  4. An individual insurance producer who allows his or her license to expire may, within how many months from the expiration date, reinstate the same license without passing a written exam? A: 12.
  5. If an insurer refuses to pay a claim, how many days must the insured wait to take legal action against a health insurer after submitting written proof of loss? A: 60.
  6. What enables applicants to compare different life insurance policies and helps them choose which policy is best for their needs? A: Buyer's guide.
  7. In Washington, a Medicare Supplement policy must be ______ renewable? A: Guaranteed.
  8. Maria the producer would like to advertise an annuity product on a highway billboard. Which of the following must be included in the advertisement? A: Her name.
  9. How are health plans classified according to the Affordable Care Act? A: Bronze, Silver, Gold, Platinum.
  10. What is the standard grace period for a group life insurance policy sold in Washington? A: 31 days.