Question 26

ID# 5941654 Points: 1

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A staff adjuster with InsurCorp sends a claim settlement agreement to an insured for the insured's electronic signature. Which of the following is generally NOT correct?

Select one:

A. If a provision of law requires a record to be in writing, an electronic record satisfies such provision

B. A record or signature may not be denied legal effect or enforceability solely because the record or signature is in electronic form

C. A contract may not be denied legal effect or enforceability solely because an electronic record was used in the formation of the contract

D. A record or signature may be denied legal effect or enforceability solely because the record or signature is in electronic form

Question 27

ID# 5941625 Points: 1

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InsurCorp and IndemniTech are insurers who compete in several of the same states. Which one of the following scenarios is most likely to place them in violation of antitrust statutes?

Select one:

A. Both run similar marketing campaigns in the same cities

B. Both operate as non-admitted insurers in the same state

C. Both agree to set similar pricing for comparable coverages in markets where they compete

D. Both hire a number of the same independent adjusters to meet demand in the wake of a large hurricane

Question 28

ID# 5941661 Points: 1

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As an adjuster in the state of New York, Alan must abide by the so-called "30-day rule," which means

Select one:

A. All subrogation claims must be placed within 30 days

B. All claims must be paid or denied within 30 days

C. All losses must be inspected within 30 days

D. All disputes over claim amounts must be reported within 30 days

Question 29

ID# 5941580 Points: 1

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The NAIC has models that protect victims of domestic abuse from discrimination related to property insurance. Which of the following was NOT an accurate depiction of a concern expressed at the meetings that led up to its adoption?

Select one:

A. A consumer representative noted that a company ought not be able to discriminate because it thinks the person may be the subject of abuse in the future

B. A consumer representative expressed support for the "flagrant and in conscious disregard" standard of the Unfair Trade Practices Act, instead of the single instance standard

C. The industry was concerned that the provision related to a single act violation would affect many policy files and there was always the possibility a mistake could occur

D. There was great concern that an insurer would have to defend its action based on what it perceived

Question 30

ID# 5941664 Points: 1

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Which of the following is the most accurate regarding the issue of preferred providers for automobile repairs?

Select one:

A. No states have put laws into place to prevent abuse and protect consumers

B. Most states have put laws into place to prevent abuse and protect consumers

C. There is no such thing as preferred provider shops for automobile repairs

D. Very few states have put laws into place to prevent abuse and protect consumers