Review the questions below. The correct answer to each question is highlighted in green. Click the question link to return to the relevant section of the study text.
1
Which of the following is NOT a role of the states in the regulation of the insurance industry?
Licensing agents
Supervising company sales practices
Licensing insurers
Promulgating pension regulations
2
Which of the following is NOT a way in which the federal government influences the insurance industry?
Through income taxation of cash values
Through the licensing of insurers
Through health insurance legislation
Through its regulation of insurance products considered securities
3
The federal government retains the power to control the insurance industry under ______ to the extent that the issues involved are deemed national in character.
ERISA
HIPAA
The McCarran-Ferguson Act
Financial Services Modernization Act
4
Which of the following is NOT an authority conferred under the law of agency?
Express authority
Suggested authority
Implied authority
Apparent authority
5
The subsequent confirmation or approval of an agent’s unauthorized actions is known as:
Disintermediation
Ratification
Brokering
Pyramiding
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