Free Insurance Regulation Practice Questions
Rhode Island Property & Casualty exam — 239 practice questions.
Subtopics: Surplus lines eligibility, Surplus lines license, Unfair discrimination, Guaranty association scope, Claim decision deadline, Insurance fraud, Producer appointment, Continuing education hours, Examination authority, Commercial license, Rulemaking authority, Commissioner is DBR Director, Examination of domestic insurer, Examination at any time, Examination costs, Financial inquiries, Unsatisfactory returns, Record retention insurer, Producer policy file, Claim file retention, Examiner response time, Electronic records, Hearing notice, Hearing subpoena, Cease and desist penalty, Flagrant violation penalty, Violating cease and desist, Administrative penalty range, Administrative remedies, False swearing, Director subpoena, Unlicensed insurer producer fine, Noncomplying insurer contract, Foreign insurer license revocation, Violations to Attorney General, Alien insurer, Foreign insurer compliance, Domestic insurer office, Mutual nonassessable, Mutual dividend notice, Binder obligation, Binder contents, Binder definition, Certificate not a policy, Certificate definition, Certificate alteration, Certificate notice rights, Certificate void, Misrepresentation, Misquote to induce lapse, Defamation, Boycott, False advertising, Rebating definition, Commission sharing, Rebating criminal penalty, Value-added services, Raffles, "Free" insurance, Gifts to customers, Lender free choice, Lender substitution fee, Geographic discrimination, Discrimination by location, Age of home, Sex or marital status, Impairment, Domestic partners, Abuse status, Abuse claim by non-coinsured, Abuse adverse action, Glass repair choice, Complaint records, Complaint definition, Application fraud, License required, Minimum age, Business entity license, Exam content, Exam retake, Property line definition, Casualty line definition, Personal lines definition, License term, License stays in effect, Expired license reinstatement, Late renewal penalty, Military waiver, Change of address, Nonresident license, Moving to Rhode Island, Nonresident moving, Exempt from licensing, Rental car exemption, Temporary license length, Temporary license eligibility, Temporary license sponsor, Grounds for discipline, Child support, Accepting unlicensed business, Denial hearing, Surrendered license, Appointment required, Appointment filing, Appointment renewal, Termination notice to Commissioner, Termination copy to producer, Producer comments, Reporting administrative actions, Reporting criminal prosecution, Commissions to unlicensed, Renewal commissions, Compensation disclosure, Commission disclosure timing, Disclosure exemption, Fiduciary premiums, Misappropriation as theft, Separate account, Errors and omissions, E&O exemption, Agency contract cancellation, Agency contract modification, Surplus lines prerequisite, Diligent effort, Diligent effort exemptions, Residual markets not admitted, Surplus lines tax, Surplus lines annual report, Surplus lines notice, Surplus lines insurer capital, Surplus lines broker fee, CE hours, CE carryover, CE exemption long service, CE limited lines exemption, CE nonresidents, CE instructor credit, CE extension, CE proof, CE noncompliance, Unfair claims standard, Unfair claims examples, Lowball offers, Unfair claims penalty, Claim acknowledgment, Department inquiry, Accept or deny, More time needed, Statute of limitations notice, Undisputed payment, Denial review notice, Polygraph, "Final" payment language, Retaining unpaid premium, Matching, ACV for fire claims, Auto appraisal threshold, Aftermarket parts, Total loss recourse, Rental disclosure, Theft reporting, Claims rule scope, Guaranty purpose, Guaranty former name, Guaranty accounts, Guaranty exclusions, Guaranty surety exclusion, Guaranty WC claims, Guaranty unearned premium, Guaranty claim limit, Guaranty 60-day window, Guaranty assessment cap, Guaranty membership, Premium finance cancellation notice, Premium finance return premium, Premium finance pro rata, Premium finance delinquency charge, Premium finance service charge, Premium finance interest, Premium finance prepayment, Premium finance agreement type, Privacy annual notice, Privacy initial notice, Privacy opt out, Health information authorization, Authorization length, Privacy scope, Account numbers, Privacy nondiscrimination, False claim is larceny, False application statement, Insurer contesting claim fraudulently, Insurer premium tax, Material change definition, Material change notice period, Material change lines, Material change label, Material change failure, Commercial cancellation early, Commercial cancellation reasons, Commercial nonpayment notice, Commercial nonrenewal notice, Late commercial nonrenewal, Commercial premium increase notice, Commercial coverage reduction, Commercial rule exclusions, Group transfer not nonrenewal, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Unfair claims settlement, Anti-money laundering, Fraud warning statements, Federal Insurance Office, Surplus lines regulation, Risk retention groups, Unfair trade practices, Fiduciary duties, Insurer solvency, Producer licensing, Fraud, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. For most risks, a Rhode Island surplus lines broker may place coverage with a nonadmitted insurer only when:
At least three admitted insurers were tried without success
The broker and insured must execute affidavits showing that, after diligent effort, the full coverage could not be obtained from at least three admitted insurers (with listed exceptions such as private flood and exempt commercial purchasers).
2. A producer who places business with nonadmitted insurers in Rhode Island generally must hold a:
Surplus lines license
For insureds whose home state is Rhode Island, only a person holding a current surplus lines license may procure coverage from a nonadmitted insurer; residents must also hold a producer license.
3. Rhode Island law prohibits unfair discrimination, meaning an insurer generally may not:
Treat insureds of the same class and hazard differently
Unfair discrimination means treating individuals or risks of the same class and essentially the same hazard differently; charging different rates for genuinely different risks is permitted.
4. The Rhode Island Property & Casualty Insurance Guaranty Association protects:
Covered claims of insolvent member P&C insurers
The Association (formerly the Rhode Island Insurers' Insolvency Fund) pays covered claims of insolvent member property and casualty insurers to avoid delay and minimize loss; life, health, and government insurance are outside its scope.
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Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
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 Insurance Department and the exam administrator before relying on it.
