State Farm 2024 State Exam Review
Questions and Answers 100% Pass
Insurance producer - Answer>> An individual or an entity
authorized in writing by a lawfully qualified insurance compnay to
transact, negotiate or effect contracts of insurance of behalf of
that insurance company.
Resident Producer - Answer>> Any person that lives in kansas
and is licensed to transact insurance business for at least one
insurer.
A Non-resident producer - Answer>> A producer that lives in
some other state;they are licensed in their owen home stae and
has written permission from the kansas insurance commisioner to
sell in our state.
Commissioner - Answer>> The insurance induster is regulated
by the kansas insurance commissioner, who is elected by the
people to a 4 year term in kansas
Purpose of the commissioner - Answer>> The insurance
commissioner administers or regulates the laws that have been
passed by the legislature. The commissioner does not make or
change insurance laws, but instead has the power to make
reasonable rules and regulations to ensure that the laws are beng
followed.
Redlining - Answer>> the practice of not seeling insurance to
those who live in the low-income, high-crime areas of town and is
considered to be a form of unfair discrimination.
Unfair Trade Practices Act - Answer>> a state law that details
illegal actions performed by producers. if a producer is found
