Name: 
 

Law & Ethics Update - Chapter 2 Review



Multiple Choice
Identify the choice that best completes the statement or answers the question.
 

 1. 

If the department finds grounds for suspension, revocation or refusal to renew any license, it may place the offender on probation for a period not to exceed:
 
a.
90 days
b.
1 year
c.
2 years
d.
4 years
 

 2. 

The term “risk-bearing entity is NOT:
a.
a group self-insured fund
b.
a self-insured public utility
c.
an authorized insurer
d.
a commercial self-insured fund
 

 3. 

A Life Agent may pay or share commission with which of the following:
a.
a referral from an approved association
b.
an agent holding a valid license and appointment
c.
a full time, salaried employee
d.
all of the above
 

 4. 

Agents must make available, records of information, collected from senior consumers, in determining suitability:
a.
for 2 years
b.
for 5 years
c.
throughout the life of the policy
d.
It is not the agents’ responsibility
 

 5. 

Free insurance is prohibited except in which of the following:
a.
Blanket disability insurance
b.
Credit life insurance
c.
Lost Bagage Insurance when part of a travel package
d.
All of the above
 

 6. 

A licensee who has been licensed for six or more years must complete a minimum of:
a.
15 hrs of elective, 5 hrs of Law & Ethics Update every 2 yrs.
b.
15 hrs of elective and 5 hrs of Law & Ethics Update every year
c.
19 hrs of elective and 5 hrs of Law & Ethics Update every 2 yrs.
d.
17 hours of elective and 3 hours of Law & Ethics Update every 2 yrs.
 



 
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