Multiple Choice
Identify
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1.
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The subsequent confirmation or approval of an
agent's unauthorized actions is known as:
a. | ratification | b. | pyramiding | c. | disintermediation
| d. | brokering |
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2.
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Which of the following is NOT a role of the states
in the regulation of the insurance industry?
a. | Supervising company sales
practices | b. | Licensing insurers | c. | Licensing agents | d. | Promulgating
pension regulations |
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3.
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Which of the following is NOT a way in which the
federal government influences the insurance industry?
a. | Through the licensing of insurers
| b. | Through its regulation of insurance products considered
securities | c. | Through health
insurance legislation | d. | Through income
taxation of cash values |
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4.
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Which of the following is NOT an authority
conferred under the law of agency?
a. | Implied authority | b. | Suggested authority | c. | Express authority
| d. | Apparent authority
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5.
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The federal government retains the power to control
the insurance industry under ______ to the extent that the issues involved are deemed national in
character.
a. | Financial Services Modernization
Act | b. | ERISA | c. | the
McCarran-Ferguson Act | d. | HIPAA |
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