Commissioner's Term of Office correct answers Elected by the voters
4 years
Commissioner Powers correct answers Investigate insurance transactions,
Adopt rules to regular unfair or deceptive acts and implement the leg
...
Commissioner's Term of Office correct answers Elected by the voters
4 years
Commissioner Powers correct answers Investigate insurance transactions,
Adopt rules to regular unfair or deceptive acts and implement the legislature's insurance code
Issue a cease and desist order to force compliance with insurance laws
Prosecute a legal action to enforce the commissioner's orders
Obtain and publish for the use of courts and appraisers, tables showing the average life
expectanccy
Disseminate information concerning the insurance laws
Provide assistance to member of the public in getting information about insurance and resolving
complaints
Commissioner Examinations correct answers May examine Insurers and Producers records at
any time, but must examine insurer's records every 5 years
Commissioner Rate and Form Approval correct answers New policy forms and applications can't
be used before they've been approved by the commissioner
Property and Casualty Rates - Commissioner correct answers Must be filed with and approved
by commissioner. Commissioner cannot set rates. Can reject for being excessive, inadequate, or
unfairly discriminatory.
Producer license suspension correct answers No more than 12 months
Producer rights if Commissioner initiates disciplinary action correct answers Request hearing
with commissioner or with an administrative judge and be represented by an attorney
Selling insurance without a producer license correct answers Class B felony
Court: jail term 10 years and/or criminal fine of $20,000
Commissioner: may issue cease and desist order, and call for a civil fine of $25,000
Policy Cancellation by Commissioner correct answers No advance notice if policy violates
insurance laws
Commissioner Fines correct answers Cease and desist - $250
Violating an insurance law - $1000
Selling insurance without license - $25,000
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