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  4. Insurance Regulation

Free Insurance Regulation Practice Questions

Ohio Property exam — 12 practice questions.

Subtopics: Fair Credit Reporting Act, Fraud and false statements, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Motor Carrier Act, Do Not Call, McCarran-Ferguson Act, Flood Disaster Protection Act, Biggert-Waters Reform Act, Federal Insurance Office, FAIR Plan origins, Coastal Barrier Resources Act

Read the Insurance Regulation study guide

Sample questions & answers

1. Under FCRA, an insurer using a consumer report to decline or surcharge coverage must:

Provide an adverse action notice identifying the reporting agency

FCRA requires adverse action notices that identify the consumer reporting agency used in the decision.

2. Under 18 USC 1033 and 1034, working in insurance after a breach-of-trust felony conviction requires:

Written consent from the appropriate insurance regulator

Federal law bars persons with breach-of-trust felony convictions from the insurance business absent written regulatory consent.

3. The Gramm-Leach-Bliley Act requires insurers to:

Give privacy notices and protect nonpublic personal financial information

GLBA requires privacy notices and safeguards for consumers' nonpublic personal financial information.

4. The federal Terrorism Risk Insurance Act (TRIA) requires commercial property insurers to:

Offer (make available) coverage for certified acts of terrorism

TRIA requires insurers to make terrorism coverage available for certified acts and provides a federal backstop for large losses.

All Property topics

Practice: Insurance Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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 Pennsylvania Insurance Department and the exam administrator before relying on it.