if richard singer from r212 paying $218 is jumped up to $399 for r219 (odd number side is quiet?)
then one word make fh excited and deal with room move
what is behind?
i stop moving r213 at all
good practice is stopping all moving until further notice
(law is strict so as to deter annoying guest who won't appreciate at all)
is richard singer (san jose) a psychsistris? or what is the point about how big he is!!? other than he is just a guest who say paying but unwilling to pay $150!
Sunday, August 31, 2008
ptrinh@gmail.com peterman PT 9324
if helen say she help peter, then how come i interven
why helen yell at me stating i tell her to come..
i yell back at sushi place but still i dine and
i pay and we split
why helen yell at me stating i tell her to come..
i yell back at sushi place but still i dine and
i pay and we split
Tuesday, August 26, 2008
Key features of the Income Select Bonus annuity
Key features of the Income Select Bonus annuity:
*2.1% cap for $75k prem.+
1.9% cap for less than $75k premium
*10% bonus from day 1
*Any new money you put in after the initial premium for the next 2 years will still earn you a 10% bonus.
*Guar. 121.5% return ove rthe first 10 yrs. (min. 1% return over the life of the policy)
*Choose the S&P 500 option (they can also choose the Dow Jone Industrial Average or Nasdaq 100 in increments of 25)
*After 1 yr. you can withdraw up to 10% of accumulated acct. value (20% the next year if you did not withdraw the first year.
*There are 2 values: Accumulated Acct. value and Income Acct. value (with the Income Edge Plus rider).
Income Edge Plus rider: supplement added to policy. The cost is half of a percent a year taken from the accumulated acct. value side. So, $100k w/ 10%- S110k the cost would be $550 )can only get this rider at time of sale).
*With this rider, you will get a guarantee of 7.2%/yr. which means your money will double in 10 yrs. ($100k=$220,465 in 10 yrs.)
*After 10 yrs. you can withdraw funds as a lump sum, income stream, or receive lifetime payments (if you choose lifetime income you will get 5.5% of accumulated value).
*10 yrs. surrender period
*$10k minimum to start this policy
*Age limit 0-85 BUT rider is only available for 40-85 yrs. old.
*You can take the bonus even if you take out your money as lump sum.
*Remember, the 59 1/2 yrs. old rule and RMD (required minimum distribution) before 70 1/2 yrs. old.
*There is a restart feature on or after the 5th contract year if your accumulated value is higher than your income acct. value. (this means that if you have $180k in your accumulated value and only $168k in your income acct. value, then you can restart or rest it and your income acct. value will now be at $180k). BUT, the downside of htis is you will start a new surrender period and the charge for the rider now can be any where from .5% to 1%.
*Confinement feature: doubles your income withdrawal amt. if you are confined to a qualified care facility like a nursing home (so instead of the 5.5% they'll get 11%).
*No asset fees, sales charge, etc.
*100% participation rate
*Commission is 8%
Good luck and Happy Selling!
Jenny
*2.1% cap for $75k prem.+
1.9% cap for less than $75k premium
*10% bonus from day 1
*Any new money you put in after the initial premium for the next 2 years will still earn you a 10% bonus.
*Guar. 121.5% return ove rthe first 10 yrs. (min. 1% return over the life of the policy)
*Choose the S&P 500 option (they can also choose the Dow Jone Industrial Average or Nasdaq 100 in increments of 25)
*After 1 yr. you can withdraw up to 10% of accumulated acct. value (20% the next year if you did not withdraw the first year.
*There are 2 values: Accumulated Acct. value and Income Acct. value (with the Income Edge Plus rider).
Income Edge Plus rider: supplement added to policy. The cost is half of a percent a year taken from the accumulated acct. value side. So, $100k w/ 10%- S110k the cost would be $550 )can only get this rider at time of sale).
*With this rider, you will get a guarantee of 7.2%/yr. which means your money will double in 10 yrs. ($100k=$220,465 in 10 yrs.)
*After 10 yrs. you can withdraw funds as a lump sum, income stream, or receive lifetime payments (if you choose lifetime income you will get 5.5% of accumulated value).
*10 yrs. surrender period
*$10k minimum to start this policy
*Age limit 0-85 BUT rider is only available for 40-85 yrs. old.
*You can take the bonus even if you take out your money as lump sum.
*Remember, the 59 1/2 yrs. old rule and RMD (required minimum distribution) before 70 1/2 yrs. old.
*There is a restart feature on or after the 5th contract year if your accumulated value is higher than your income acct. value. (this means that if you have $180k in your accumulated value and only $168k in your income acct. value, then you can restart or rest it and your income acct. value will now be at $180k). BUT, the downside of htis is you will start a new surrender period and the charge for the rider now can be any where from .5% to 1%.
*Confinement feature: doubles your income withdrawal amt. if you are confined to a qualified care facility like a nursing home (so instead of the 5.5% they'll get 11%).
*No asset fees, sales charge, etc.
*100% participation rate
*Commission is 8%
Good luck and Happy Selling!
Jenny
Thursday, August 21, 2008
hierachy
sue asked if feyon like peter
jenny -> jennifer (now moved to LA, love married Jack Wo)-> helen ->
lily -jenny -> Julie
lily -> alan recruit carol
lily has 4 legs and she bring alot
lily -> dan -> sam
helen recruit some right people
jenny -> jennifer (now moved to LA, love married Jack Wo)-> helen ->
lily -jenny -> Julie
lily -> alan recruit carol
lily has 4 legs and she bring alot
lily -> dan -> sam
helen recruit some right people
箍煲殺女友 癡男利剪貫喉
箍煲殺女友 癡男利剪貫喉
(星島)8月22日 星期五 05:30
(綜合報道)
(星島日報 報道)粉嶺 華明邨發生懷疑情殺案。一名十九歲少女向男友提出分手，被男友騙到住所箍煲，有人談判時索K壯膽，但毒品令人神志失常，少女遭人強力扼頸昏迷，涉嫌男友疑畏罪以鉸剪自插頸部企圖自殺，家人發現報警，但少女被送院證實死亡，男友經搶救後情況由危殆轉為嚴重，警方昨晚正式列作兇殺案處理。
記者：黃清開 黃文威
一對癡男怨女昨日被發現雙雙倒臥粉嶺華明邨一單位，男子頸插利剪垂危，女子昏迷送院後證實死亡，警方列兇殺案，初步相信兇案與感情有關。現場消息稱，事發時男傷者的異姓弟弟亦在場，他聲稱在客廳上網聽歌，竟不知兄長和女友在睡房出事，警方正深入追查案件真相。
少女遭扼頸昏迷
案中女死者姓劉，十九歲，男傷者林X玉，二十七歲，兩人是情侶關係，近日鬧分手。林與十八歲姓陳異姓弟弟及母親居住粉嶺華明邨頌明樓九樓一單位。昨中午時分，林兄弟與劉女在上址，林母在附近街坊家打牌。
警方消息稱，昨午十二時，林兄相約劉女到住所箍煲，騙劉女入房詳談。林弟稱，當時他在客廳上網聽歌，沒有留意兄長和劉女的情況。
消息稱，有人屢次箍煲不果，約見女友前曾索K壯膽，但再箍煲失敗，在藥物影響下突然發狂，遽下毒手扼頸逼劉女就範，劉女不堪暴力終告昏迷。有人見出事，畏罪以鉸剪插頸企圖自殺，癡情漢頓告奄奄一息。
林弟向警方表示，稍後見兄長與劉女在房內無聲無息，覺奇怪拍門查問無反應，於是踢開房門，赫見兩人雙雙倒在牀上，兄長的頸部插有一把鉸剪，劉女則衣衫整齊全無反應。林弟見狀即致電母親趕返查看，他在下午三時五十一分報警，聲稱有人受傷和自殺。
久無聲息 弟破房門揭發
警方與救護員趕至，發現劉女已無反應，將她急送北區醫院 ，惜抵院證實死亡。林則頸插利剪，由弟弟陪同送沙田 威院，即時被送入手術室急救，情況一度危殆。據醫護人員表示，傷者的頸插利剪，是作二十度傾斜向上插入，初步調查疑傷者以鉸剪插頸企圖自殺。
由於案情嚴重，大埔 警區重案組第二隊接手調查，初步檢驗屍體頸有紅印，不排除女死者被扼頸死亡，屍體舁送殮房等候今日由法醫官剖驗。
至晚上八時許，重案組探員在現場單位檢走三大黑膠袋的證物，包括一部電腦，追查電腦紀錄，案發一段時間內是否有人正在上網聽歌，抑或案件另有內情
(星島)8月22日 星期五 05:30
(綜合報道)
(星島日報 報道)粉嶺 華明邨發生懷疑情殺案。一名十九歲少女向男友提出分手，被男友騙到住所箍煲，有人談判時索K壯膽，但毒品令人神志失常，少女遭人強力扼頸昏迷，涉嫌男友疑畏罪以鉸剪自插頸部企圖自殺，家人發現報警，但少女被送院證實死亡，男友經搶救後情況由危殆轉為嚴重，警方昨晚正式列作兇殺案處理。
記者：黃清開 黃文威
一對癡男怨女昨日被發現雙雙倒臥粉嶺華明邨一單位，男子頸插利剪垂危，女子昏迷送院後證實死亡，警方列兇殺案，初步相信兇案與感情有關。現場消息稱，事發時男傷者的異姓弟弟亦在場，他聲稱在客廳上網聽歌，竟不知兄長和女友在睡房出事，警方正深入追查案件真相。
少女遭扼頸昏迷
案中女死者姓劉，十九歲，男傷者林X玉，二十七歲，兩人是情侶關係，近日鬧分手。林與十八歲姓陳異姓弟弟及母親居住粉嶺華明邨頌明樓九樓一單位。昨中午時分，林兄弟與劉女在上址，林母在附近街坊家打牌。
警方消息稱，昨午十二時，林兄相約劉女到住所箍煲，騙劉女入房詳談。林弟稱，當時他在客廳上網聽歌，沒有留意兄長和劉女的情況。
消息稱，有人屢次箍煲不果，約見女友前曾索K壯膽，但再箍煲失敗，在藥物影響下突然發狂，遽下毒手扼頸逼劉女就範，劉女不堪暴力終告昏迷。有人見出事，畏罪以鉸剪插頸企圖自殺，癡情漢頓告奄奄一息。
林弟向警方表示，稍後見兄長與劉女在房內無聲無息，覺奇怪拍門查問無反應，於是踢開房門，赫見兩人雙雙倒在牀上，兄長的頸部插有一把鉸剪，劉女則衣衫整齊全無反應。林弟見狀即致電母親趕返查看，他在下午三時五十一分報警，聲稱有人受傷和自殺。
久無聲息 弟破房門揭發
警方與救護員趕至，發現劉女已無反應，將她急送北區醫院 ，惜抵院證實死亡。林則頸插利剪，由弟弟陪同送沙田 威院，即時被送入手術室急救，情況一度危殆。據醫護人員表示，傷者的頸插利剪，是作二十度傾斜向上插入，初步調查疑傷者以鉸剪插頸企圖自殺。
由於案情嚴重，大埔 警區重案組第二隊接手調查，初步檢驗屍體頸有紅印，不排除女死者被扼頸死亡，屍體舁送殮房等候今日由法醫官剖驗。
至晚上八時許，重案組探員在現場單位檢走三大黑膠袋的證物，包括一部電腦，追查電腦紀錄，案發一段時間內是否有人正在上網聽歌，抑或案件另有內情
Saturday, August 16, 2008
quiz 2 prep 03b
1. An agent or broker may charge an extra fee for services that go above and beyond what are considered normal duties. Which of the following is NOT considered an extra service?
Application paperwork
Services performed as a convenience to the insured that result in extra expense to the broker or agent
Additional activities
Additional research
A- The extra services may include: a) Additional research; b) Additional activities; c) Services performed as a convenience to the insured that result in extra expense to the broker or agent.
2. After providing an opportunity for a hearing, the Commissioner may deny an application for a license based on the following reasons EXCEPT:
the applicant lied on the application
the applicant has acted as a licensed person before the license was issued
the applicant is disabled
the applicant was convicted of a felony
C-No disabled person may have an application denied strictly due to being disabled.
3. Every applicant for a license to act as an agent must have filed with the Commissioner:
a notice of appointment to do business in the state.
an application for employment with the company employed with.
a request for application prior to being licensed in the state.
a license number to be approved prior to receiving a license.
A- Every applicant for a license to act as an agent must have filed with the Commissioner a notice of appointment to do business in the state of California.
4. When can a partnership continue if a new partner joins?
After the Commissioner is notified and a new license is issued.
After the department is notified within 30 days and the changes are approved.
After the new partner is issued a license by the department and the old license is terminated.
After all the partners file a written notice with the Commissioner within 45 days.
B- The paperwork for this change needs to be submitted and received within 30 days of the change.
5. All of the following are examples of fiduciaries EXCEPT:
Executors
Administrators
Corporate directors
Vendor
D- A vendor doesn`t handle the affairs and funds of clients, but typically works as a retail service.
6. A Fire and Casualty Agent of more then 4 years is required to continue their education by completing:
a total of 55 hours during the first 2 years of licensing.
a total of 30 hours per license term.
a total of 50 hours during the first 2 years of licensing.
a total of 100 hours during the first 4 years of licensing.
B- Fire and Casualty agents or more then four years are required to complete 30 hours of continuing education. FC agents of less then 4 years are required to complete 25 hours per year.
7. To handle long term care insurance, an agent of more then four years must satisfy the continuing education requirement of:
8 hours of LTC training each license term.
an 8 hour course in each of the first 4 years of licensing.
a 4 hour course in each of the first 4 years of licensing.
a 4 hour course in each of the first 2 years of licensing.
A- 8 hours of LTC training each license term is required. (terms are 2 years)
8. Which of the following is NOT true about the California Insurance Code and the California Code of Regulations.
The CIC is written, updated, and changed by the California State legislature.
The CIC gives the Commissioner the power to institute rules and regulations which are called the California Code of Regulations.
The CIC and the CCR are a complete guide to ethical behavior.
The Department of Insurance implements, enforces and monitors the CIC.
C- These codes are not a complete guide for ALL ethical behavior.
9. In order to update, add or change a statute a bill must be passed by the legislature and then presented to the governor. If the statute is passed, it will go into effect:
immediately
on the next fiscal year
on the next January 1st
on the next August 1st
C- On the next January first if there are 90 days prior to the first of January. If not, the bill must wait until the following January first.
10. A licensee may surrender his/her license:
after notifying the Commissioner and a mandatory 30 day waiting period.
upon written notice to the Department of Insurance at any time.
after the termination of employment with an insurer.
after written notice to the Department and the Commissioner after the next January 1.
B- There is no requirement other than sending a written notice to the DOI.
11. If a license is in the possession of the insurer or the licensee`s employer, the licensee may surrender his/her license:
after notifying the Commissioner and a mandatory 30 days waiting period.
at any time.
after the termination of employment with an insurer.
after written notice is delivered to the Commissioner.
D- The most correct answer will include written notice.
12. An organization ceases to exist as an entity eligible to hold a license upon all of the following EXCEPT:
upon dissolution of a co partnership or upon any change in membership of a co partnership.
upon the termination of an association.
upon the termination of a key employee.
upon dissolution of a corporation.
C- Key employees do not affect the existence of an entity or its ability to retain a license.
13. What is the difference between an admitted and a non-admitted insurer?
An admitted insurer is a company that has met most of the qualifications designed by the DOI and has received a Certificate of Authority from the DOI to transact insurance in California, whereas a non-admitted insurer has not applied or has been denied.
An admitted insurer is a company that has met all of the qualifications designed by the DOI and received a Certificate of Authority from the DOI to transact insurance in California, whereas a non-admitted insurer has not complied or been denied.
An admitted insurer has met all the qualifications designed by the DOI but hasn`t received a Certificate of Authority because they are not licensed in the state of California and a non-admitted insurer is licensed in the state of California.
A non-admitted insurer is a company that has met all of the qualifications designed by the DOI and has received a Certificate of Authority from the DOI to transact insurance in California, whereas an admitted insurer has not complied or been denied.
B- Remember, admitted is `admitted` in California.
14. The marketing/sales department is responsible for:
receiving applications for insurance and then deciding if the company should approve or reject the application.
receiving claim requests, evaluating them, and paying those claims that are covered by the terms of the contract and rejecting those that are not.
advertising, promoting and distributing an insurer`s products to the public.
using claims history, statistics, and computer data to predict losses.
C- The marketing department doesn`t handle claims, applications, or premiums.
15. The actuarial department is responsible for:
receiving applications for insurance and then deciding if the company should approve or reject the application.
receiving claim requests, evaluating them and paying those claims that are covered by the terms of the contract and rejecting those that is not.
advertising, promoting and distributing an insurer`s products to the public.
using claims history, statistics and computer data to predict losses.
D- The actuarial department deals with `actual` facts and data to help in ratemaking, etc.
16. According to the qualifications of an insurer under the California Code a `person` can be any of the following EXCEPT:
a human being at least age 16 who is competent and not intoxicated
a corporation
a trust
an estate of a deceased person
A- Age limit is 18.
17. Insolvency means:
a company has more earned premium than claims made
a company has more claims than earned premium to pay for those claims
an insurer`s inability to meet its financial obligations when they are due
an insurer`s inability to meet the standards set by the DOI
C- Earned Premium is not typically a factor in the financial strength of a company. It involves premiums collected, expenses, and losses absorbed.
18. What is the role of the Commissioner and the Department of Insurance in relation to consumers?
The Commissioner and the DOI are responsible for regulating the conduct of agents and insurers.
The Commissioner and the DOI are responsible for making sure the public is given the opportunity to purchase insurance.
The Commissioner and the DOI are responsible for making sure companies bring in more income than claims paid out.
The Commissioner and the DOI are responsible for advertising to the public the roles and responsibilities of insurance.
A- Protection, regulation, and conduct of insurance companies and agents.
19. What is the significance of the SEUA case of 1944?
The court decided the federal government should regulate insurance.
The court exempted the insurance industry from the federal regulation required for most interstate commerce industries.
The court gave authority to the federal government to apply antitrust laws to the insurance business that was not being regulated by the state level.
The court established the right of the states, instead of the federal government, to regulate insurance.
A- This law overturned the Paul vs. Virginia legislation.
20. Which court case reversed the Paul vs. Virginia case of 1868?
McCarren-Ferguson Act of 1945
Public Law 15
SEUA case of 1944
Houghton-Mifflin case of 1938
C- No further explanation is needed here.
Application paperwork
Services performed as a convenience to the insured that result in extra expense to the broker or agent
Additional activities
Additional research
A- The extra services may include: a) Additional research; b) Additional activities; c) Services performed as a convenience to the insured that result in extra expense to the broker or agent.
2. After providing an opportunity for a hearing, the Commissioner may deny an application for a license based on the following reasons EXCEPT:
the applicant lied on the application
the applicant has acted as a licensed person before the license was issued
the applicant is disabled
the applicant was convicted of a felony
C-No disabled person may have an application denied strictly due to being disabled.
3. Every applicant for a license to act as an agent must have filed with the Commissioner:
a notice of appointment to do business in the state.
an application for employment with the company employed with.
a request for application prior to being licensed in the state.
a license number to be approved prior to receiving a license.
A- Every applicant for a license to act as an agent must have filed with the Commissioner a notice of appointment to do business in the state of California.
4. When can a partnership continue if a new partner joins?
After the Commissioner is notified and a new license is issued.
After the department is notified within 30 days and the changes are approved.
After the new partner is issued a license by the department and the old license is terminated.
After all the partners file a written notice with the Commissioner within 45 days.
B- The paperwork for this change needs to be submitted and received within 30 days of the change.
5. All of the following are examples of fiduciaries EXCEPT:
Executors
Administrators
Corporate directors
Vendor
D- A vendor doesn`t handle the affairs and funds of clients, but typically works as a retail service.
6. A Fire and Casualty Agent of more then 4 years is required to continue their education by completing:
a total of 55 hours during the first 2 years of licensing.
a total of 30 hours per license term.
a total of 50 hours during the first 2 years of licensing.
a total of 100 hours during the first 4 years of licensing.
B- Fire and Casualty agents or more then four years are required to complete 30 hours of continuing education. FC agents of less then 4 years are required to complete 25 hours per year.
7. To handle long term care insurance, an agent of more then four years must satisfy the continuing education requirement of:
8 hours of LTC training each license term.
an 8 hour course in each of the first 4 years of licensing.
a 4 hour course in each of the first 4 years of licensing.
a 4 hour course in each of the first 2 years of licensing.
A- 8 hours of LTC training each license term is required. (terms are 2 years)
8. Which of the following is NOT true about the California Insurance Code and the California Code of Regulations.
The CIC is written, updated, and changed by the California State legislature.
The CIC gives the Commissioner the power to institute rules and regulations which are called the California Code of Regulations.
The CIC and the CCR are a complete guide to ethical behavior.
The Department of Insurance implements, enforces and monitors the CIC.
C- These codes are not a complete guide for ALL ethical behavior.
9. In order to update, add or change a statute a bill must be passed by the legislature and then presented to the governor. If the statute is passed, it will go into effect:
immediately
on the next fiscal year
on the next January 1st
on the next August 1st
C- On the next January first if there are 90 days prior to the first of January. If not, the bill must wait until the following January first.
10. A licensee may surrender his/her license:
after notifying the Commissioner and a mandatory 30 day waiting period.
upon written notice to the Department of Insurance at any time.
after the termination of employment with an insurer.
after written notice to the Department and the Commissioner after the next January 1.
B- There is no requirement other than sending a written notice to the DOI.
11. If a license is in the possession of the insurer or the licensee`s employer, the licensee may surrender his/her license:
after notifying the Commissioner and a mandatory 30 days waiting period.
at any time.
after the termination of employment with an insurer.
after written notice is delivered to the Commissioner.
D- The most correct answer will include written notice.
12. An organization ceases to exist as an entity eligible to hold a license upon all of the following EXCEPT:
upon dissolution of a co partnership or upon any change in membership of a co partnership.
upon the termination of an association.
upon the termination of a key employee.
upon dissolution of a corporation.
C- Key employees do not affect the existence of an entity or its ability to retain a license.
13. What is the difference between an admitted and a non-admitted insurer?
An admitted insurer is a company that has met most of the qualifications designed by the DOI and has received a Certificate of Authority from the DOI to transact insurance in California, whereas a non-admitted insurer has not applied or has been denied.
An admitted insurer is a company that has met all of the qualifications designed by the DOI and received a Certificate of Authority from the DOI to transact insurance in California, whereas a non-admitted insurer has not complied or been denied.
An admitted insurer has met all the qualifications designed by the DOI but hasn`t received a Certificate of Authority because they are not licensed in the state of California and a non-admitted insurer is licensed in the state of California.
A non-admitted insurer is a company that has met all of the qualifications designed by the DOI and has received a Certificate of Authority from the DOI to transact insurance in California, whereas an admitted insurer has not complied or been denied.
B- Remember, admitted is `admitted` in California.
14. The marketing/sales department is responsible for:
receiving applications for insurance and then deciding if the company should approve or reject the application.
receiving claim requests, evaluating them, and paying those claims that are covered by the terms of the contract and rejecting those that are not.
advertising, promoting and distributing an insurer`s products to the public.
using claims history, statistics, and computer data to predict losses.
C- The marketing department doesn`t handle claims, applications, or premiums.
15. The actuarial department is responsible for:
receiving applications for insurance and then deciding if the company should approve or reject the application.
receiving claim requests, evaluating them and paying those claims that are covered by the terms of the contract and rejecting those that is not.
advertising, promoting and distributing an insurer`s products to the public.
using claims history, statistics and computer data to predict losses.
D- The actuarial department deals with `actual` facts and data to help in ratemaking, etc.
16. According to the qualifications of an insurer under the California Code a `person` can be any of the following EXCEPT:
a human being at least age 16 who is competent and not intoxicated
a corporation
a trust
an estate of a deceased person
A- Age limit is 18.
17. Insolvency means:
a company has more earned premium than claims made
a company has more claims than earned premium to pay for those claims
an insurer`s inability to meet its financial obligations when they are due
an insurer`s inability to meet the standards set by the DOI
C- Earned Premium is not typically a factor in the financial strength of a company. It involves premiums collected, expenses, and losses absorbed.
18. What is the role of the Commissioner and the Department of Insurance in relation to consumers?
The Commissioner and the DOI are responsible for regulating the conduct of agents and insurers.
The Commissioner and the DOI are responsible for making sure the public is given the opportunity to purchase insurance.
The Commissioner and the DOI are responsible for making sure companies bring in more income than claims paid out.
The Commissioner and the DOI are responsible for advertising to the public the roles and responsibilities of insurance.
A- Protection, regulation, and conduct of insurance companies and agents.
19. What is the significance of the SEUA case of 1944?
The court decided the federal government should regulate insurance.
The court exempted the insurance industry from the federal regulation required for most interstate commerce industries.
The court gave authority to the federal government to apply antitrust laws to the insurance business that was not being regulated by the state level.
The court established the right of the states, instead of the federal government, to regulate insurance.
A- This law overturned the Paul vs. Virginia legislation.
20. Which court case reversed the Paul vs. Virginia case of 1868?
McCarren-Ferguson Act of 1945
Public Law 15
SEUA case of 1944
Houghton-Mifflin case of 1938
C- No further explanation is needed here.
quiz 2 prep for fire casualty
1. In which of the following marketing distribution systems does the agent represent more than one insurer and more than one company?
Direct mailing system
Direct writing system
Exclusive agency
Independent agency
D- An independent agency operates with a broker or brokers with several appointments at different companies. This broker is able to `shop` for the best prices and coverage.
2. Which of the following is a responsibility of the insured in an insurance contract?
Complete the application.
Give true statements and information on the application.
Send the application to the underwriting department.
Fully explain the policy to the client.
B-The insured`s responsibilities are to give true statements and information to the agent so a proper and complete application can be sent to the company.
3. Which of the following is NOT a type of authority given to agents?
Express authority
Implied authority
Customary authority
Apparent authority
C - There is no such thing as customary authority.
4. In a legal relationship, which authority does a principal (company) give the agent in writing?
Express authority
Implied authority
Customary authority
Apparent authority
A- Express authority is the specific authority a principal gives to the agent in writing.
5. Which of the following is NOT a source of information an underwriter might use to investigate an application in order to approve or reject it? application for approval or rejection?
Medical Information Bureau
Department of Industrial Relations
Department of Motor Vehicles
Financial Reports
B- The DIR is a department used to monitor labor, health, workers compensation, etc.
6. A broker can transact all of the following EXCEPT:
Life insurance
Property insurance
Casualty insurance
Disability insurance
A- A broker is any person who transacts insurance, other than life insurance, with insurance companies on behalf of clients.
7. Which of the following is NOT an action a person performs when transacting insurance?
Calling an insurer for a price quote
Solicitation of insurance
The actual execution of a contract
Any transactions that later result from the operation of the contract
A- When a person performs any of the following actions, he/she is transacting insurance: actual execution of a contract; negotiations preliminary to the execution of a contract; solicitation of insurance.
8. A person licensed as a broker/agent shall be deemed to be:
responsible for deciding if an application should be approved or rejected
acting as an insurance agent in the transaction of insurance placed with those for whom a notice of appointment has been filed with the Commissioner
involved in the business of financing the purchase of real estate
acting with the same authority granted a managing general agent
B- A person licensed as a broker-agent shall be deemed to be acting as an insurance agent in the transaction of insurance placed with those insurers for whom a notice of appointment has been filed with the Commissioner.
9. Which of the following is not true about the relationship between an agent and a solicitor?
An agent represents the company, whereas the solicitor is an assistant to an agent and has no binding authority.
A solicitor cannot be employed by more than one fire and casualty broker/agent at the same time.
An agent or broker cannot transact as a solicitor, but a solicitor can transact as a broker or agent.
A solicitor my give premium quotes over the phone, just like an agent.
C- An agent or broker cannot transact as a solicitor and a solicitor cannot transact as a broker or agent.
10. The application is the document that:
states the name of the insured, the premium, and other facts that help the insurer decide whether to accept or reject it.
is a temporary contract that usually lasts 30 days.
shows the insured has coverage currently in force.
shows proof of insurance.
A- The application is the document on which the applicant states facts and answers questions regarding the insurance he wants to purchase.
11. If an agent gives incorrect advice or unknowingly provides incorrect information to the client, which of the following liability insurance policies for nonmedical professionals is available to pay for losses or defend lawsuits that might be filed against him?
Liability insurance
Errors and Omissions
Medical Insurance
Nonadmitted
B- Errors and omissions is a type of liability insurance for non-medical professionals. It will pay for losses or the defense of lawsuits that might be filed against them.
12. Errors and omissions is a type of liability insurance:
for insured`s to use to protect themselves against a claim loss.
that agents use to protect themselves if they give incorrect advice or information to a client.
that indemnifies a client.
for protection against misrepresentation when filing a declaration page.
B- Errors and omissions is a type of coverage of liability insurance for nonmedical professionals that pays for losses or the defense of suits that might be filed against them.
13. The following acts are unlawful and are misdemeanors in California except when performed by a surplus lines broker EXCEPT:
In any manner, advertising for a nonadmitted insurer in this state.
In any manner, advertising for an admitted insurer in this state.
In any other manner, aiding a nonadmitted insurer to transact insurance business in this state.
Acting as agent for a nonadmitted insurer in the transaction of insurance business in this state.
B- Advertising for an admitted carrier is acceptable for anyone appointed with that carrier.
14. Which of the following statements about insurance in connection with sales or loans is TRUE?
No person involved in the business of financing the purchase of real estate may require the purchase of insurance through a specific agent as part of the requirements in the purchase.
No person involved in the business of financing the purchase of real estate may require the purchase of insurance through a specific agent as part of the requirements in the purchase, except an agent licensed with the state of California.
A person involved in the business of financing the purchase of real estate may require the purchase of insurance through a specific agent if the agent is employed by that company.
A person approved by the Commissioner may be required to be involved in the business of financing the purchase of real estate. This person would act as the agent in purchasing insurance for the real estate.
A- No person involved in the business of financing the purchase of real estate or personal property may require the purchase of insurance through a specific agent as part of the requirements in the purchase.
15. When dealing with insurance in connection with sales or loans, violating the legal provisions specified by California law is considered a:
felony
misdemeanor
fine
penalty
B- This violation is a misdemeanor.
16. It is against the law for an insurance licensee to offer free insurance to:
anyone, regardless the reason.
those who cannot afford it.
family and other relatives.
anyone as an incentive to acquire some other type of business.
D- It is against the law for an insurance licensee to offer free insurance to anyone as an incentive to acquire some other type of business.
17. Which of the following is NOT a valid reason for the Commissioner to deny the use of a name when filing with the Insurance Commissioner?
The names gives the impression the licensee is authorized to conduct a type of business which it cannot legally conduct.
The name would lead the public in the wrong direction.
The name would interfere or is too similar to the name of another agency already licensed by the Commission.
The name is politically connected to the government.
D-Some companies take a political stand and are still granted the use of a name.
18. All Fire and Casualty Broker/Agents are required by law to display to the public:
The institution of education where they received their degree.
Their license to sell insurance displayed in their training room.
The types of insurance they are licensed to sell displayed in their personal office.
Their license to sell insurance, displayed in a place where it can be easily seen.
D- All Fire and Casualty Broker-Agents are required by law to display licenses in a place where the license can be clearly seen and inspected by everyone to determine whether it is valid.
19. Agents must keep good records and make them available to the DOI for a period of:
1 year
2 years
3 years
5 years
D- All this information must be kept on file for a period of five years from the application date, following policy delivery.
20. When should a licensee notify the Commissioner of a change in address?
within the 30 day grace period
within the 10 day grace period
after notifying the company the licensee is employed with
immediately
D- Always immediately! Never as soon as possible, etc. as that would indicate a lack of importance.
Direct mailing system
Direct writing system
Exclusive agency
Independent agency
D- An independent agency operates with a broker or brokers with several appointments at different companies. This broker is able to `shop` for the best prices and coverage.
2. Which of the following is a responsibility of the insured in an insurance contract?
Complete the application.
Give true statements and information on the application.
Send the application to the underwriting department.
Fully explain the policy to the client.
B-The insured`s responsibilities are to give true statements and information to the agent so a proper and complete application can be sent to the company.
3. Which of the following is NOT a type of authority given to agents?
Express authority
Implied authority
Customary authority
Apparent authority
C - There is no such thing as customary authority.
4. In a legal relationship, which authority does a principal (company) give the agent in writing?
Express authority
Implied authority
Customary authority
Apparent authority
A- Express authority is the specific authority a principal gives to the agent in writing.
5. Which of the following is NOT a source of information an underwriter might use to investigate an application in order to approve or reject it? application for approval or rejection?
Medical Information Bureau
Department of Industrial Relations
Department of Motor Vehicles
Financial Reports
B- The DIR is a department used to monitor labor, health, workers compensation, etc.
6. A broker can transact all of the following EXCEPT:
Life insurance
Property insurance
Casualty insurance
Disability insurance
A- A broker is any person who transacts insurance, other than life insurance, with insurance companies on behalf of clients.
7. Which of the following is NOT an action a person performs when transacting insurance?
Calling an insurer for a price quote
Solicitation of insurance
The actual execution of a contract
Any transactions that later result from the operation of the contract
A- When a person performs any of the following actions, he/she is transacting insurance: actual execution of a contract; negotiations preliminary to the execution of a contract; solicitation of insurance.
8. A person licensed as a broker/agent shall be deemed to be:
responsible for deciding if an application should be approved or rejected
acting as an insurance agent in the transaction of insurance placed with those for whom a notice of appointment has been filed with the Commissioner
involved in the business of financing the purchase of real estate
acting with the same authority granted a managing general agent
B- A person licensed as a broker-agent shall be deemed to be acting as an insurance agent in the transaction of insurance placed with those insurers for whom a notice of appointment has been filed with the Commissioner.
9. Which of the following is not true about the relationship between an agent and a solicitor?
An agent represents the company, whereas the solicitor is an assistant to an agent and has no binding authority.
A solicitor cannot be employed by more than one fire and casualty broker/agent at the same time.
An agent or broker cannot transact as a solicitor, but a solicitor can transact as a broker or agent.
A solicitor my give premium quotes over the phone, just like an agent.
C- An agent or broker cannot transact as a solicitor and a solicitor cannot transact as a broker or agent.
10. The application is the document that:
states the name of the insured, the premium, and other facts that help the insurer decide whether to accept or reject it.
is a temporary contract that usually lasts 30 days.
shows the insured has coverage currently in force.
shows proof of insurance.
A- The application is the document on which the applicant states facts and answers questions regarding the insurance he wants to purchase.
11. If an agent gives incorrect advice or unknowingly provides incorrect information to the client, which of the following liability insurance policies for nonmedical professionals is available to pay for losses or defend lawsuits that might be filed against him?
Liability insurance
Errors and Omissions
Medical Insurance
Nonadmitted
B- Errors and omissions is a type of liability insurance for non-medical professionals. It will pay for losses or the defense of lawsuits that might be filed against them.
12. Errors and omissions is a type of liability insurance:
for insured`s to use to protect themselves against a claim loss.
that agents use to protect themselves if they give incorrect advice or information to a client.
that indemnifies a client.
for protection against misrepresentation when filing a declaration page.
B- Errors and omissions is a type of coverage of liability insurance for nonmedical professionals that pays for losses or the defense of suits that might be filed against them.
13. The following acts are unlawful and are misdemeanors in California except when performed by a surplus lines broker EXCEPT:
In any manner, advertising for a nonadmitted insurer in this state.
In any manner, advertising for an admitted insurer in this state.
In any other manner, aiding a nonadmitted insurer to transact insurance business in this state.
Acting as agent for a nonadmitted insurer in the transaction of insurance business in this state.
B- Advertising for an admitted carrier is acceptable for anyone appointed with that carrier.
14. Which of the following statements about insurance in connection with sales or loans is TRUE?
No person involved in the business of financing the purchase of real estate may require the purchase of insurance through a specific agent as part of the requirements in the purchase.
No person involved in the business of financing the purchase of real estate may require the purchase of insurance through a specific agent as part of the requirements in the purchase, except an agent licensed with the state of California.
A person involved in the business of financing the purchase of real estate may require the purchase of insurance through a specific agent if the agent is employed by that company.
A person approved by the Commissioner may be required to be involved in the business of financing the purchase of real estate. This person would act as the agent in purchasing insurance for the real estate.
A- No person involved in the business of financing the purchase of real estate or personal property may require the purchase of insurance through a specific agent as part of the requirements in the purchase.
15. When dealing with insurance in connection with sales or loans, violating the legal provisions specified by California law is considered a:
felony
misdemeanor
fine
penalty
B- This violation is a misdemeanor.
16. It is against the law for an insurance licensee to offer free insurance to:
anyone, regardless the reason.
those who cannot afford it.
family and other relatives.
anyone as an incentive to acquire some other type of business.
D- It is against the law for an insurance licensee to offer free insurance to anyone as an incentive to acquire some other type of business.
17. Which of the following is NOT a valid reason for the Commissioner to deny the use of a name when filing with the Insurance Commissioner?
The names gives the impression the licensee is authorized to conduct a type of business which it cannot legally conduct.
The name would lead the public in the wrong direction.
The name would interfere or is too similar to the name of another agency already licensed by the Commission.
The name is politically connected to the government.
D-Some companies take a political stand and are still granted the use of a name.
18. All Fire and Casualty Broker/Agents are required by law to display to the public:
The institution of education where they received their degree.
Their license to sell insurance displayed in their training room.
The types of insurance they are licensed to sell displayed in their personal office.
Their license to sell insurance, displayed in a place where it can be easily seen.
D- All Fire and Casualty Broker-Agents are required by law to display licenses in a place where the license can be clearly seen and inspected by everyone to determine whether it is valid.
19. Agents must keep good records and make them available to the DOI for a period of:
1 year
2 years
3 years
5 years
D- All this information must be kept on file for a period of five years from the application date, following policy delivery.
20. When should a licensee notify the Commissioner of a change in address?
within the 30 day grace period
within the 10 day grace period
after notifying the company the licensee is employed with
immediately
D- Always immediately! Never as soon as possible, etc. as that would indicate a lack of importance.
Thursday, August 14, 2008
油價連跌三日 金價大跌八日限制對金融類股「無股賣空」的禁令
金融板塊領跌 大盤漲勢受阻 2008年8月13日
新聞專輯：「京奧盛事」
明報網站為迎接北京奧運，特別製作專輯，在比賽期間提供即時消息、獎牌龍虎榜、熱門新聞、奧運冷知識、專家評論等內容......萬勿錯過。
[ 立即進入 ]
【紐約十二日綜合外電】儘管原油期貨價格周二繼續下跌至每桶113元，但有更多跡象表明銀行金融領域的危機仍在持續惡化，該板塊再現大跌並拖累股市大盤下挫低收，結束了連續兩個交易日的上漲勢頭。
油價續降無濟於事
Federated Investors證券策略師杜塞爾(Linda Duessel)表示：「股市未來的走勢，將在很大的程度上取決於金融行業的危機是否會波及其他經濟領域。」
道指在先前的兩個交易日共上漲了350點，但周一下跌了139.88點，道指30種成分股中共有20隻股票下跌，金融類股領跌。
此外，證監會(SEC)先前為減少市場投機與降低大盤不正常劇烈震盪，而限制對金融類股「無股賣空」的禁令，剛好於周二到期，預期SEC將會起草一份正式條例將此禁令永久化實施。
分析師還表示，近期油價的下跌抵銷了金融類股糟糕的部分影響——投資者正期望能源價格的下降會增強消費者與企業的支出能力並改善企業盈利前景。受JP摩根正面評價刺激，AMR (AMR)等航空公司的股票當日強勁攀升。
周二油價連續第三個交易日下跌收低。紐約商交所9月份交割的原油期f價格下跌了1.44元，收於每桶113.01元。
自8月7日油價收於每桶120.02元以來，至今油價已經下跌了7.01元。國際能源署和美國能源信息署當日公布的報告同時表明全球石油需求下滑，造成油價繼續下跌。
油價連跌三日 金價大跌八日
黃金期貨價格當日也收低，至此金價已經連續八個交易日下跌，自7月31日至今，每盎司金價累計下跌了超過100元，周二，12月份交割的黃金期貨價格下跌了13.70元，收於每盎司814.60元。
Kerr Trading International總裁科爾(Kevin Kerr)表示：「黃金價格已經大幅下跌。現在的事實是黃金超賣狀況已變得愈來愈嚴重，只要有國際政治局勢緊張的突發新聞或者外匯市場不確定性因素提高，我們就會看到黃金市場突然反彈。」
新聞專輯：「京奧盛事」
明報網站為迎接北京奧運，特別製作專輯，在比賽期間提供即時消息、獎牌龍虎榜、熱門新聞、奧運冷知識、專家評論等內容......萬勿錯過。
[ 立即進入 ]
【紐約十二日綜合外電】儘管原油期貨價格周二繼續下跌至每桶113元，但有更多跡象表明銀行金融領域的危機仍在持續惡化，該板塊再現大跌並拖累股市大盤下挫低收，結束了連續兩個交易日的上漲勢頭。
油價續降無濟於事
Federated Investors證券策略師杜塞爾(Linda Duessel)表示：「股市未來的走勢，將在很大的程度上取決於金融行業的危機是否會波及其他經濟領域。」
道指在先前的兩個交易日共上漲了350點，但周一下跌了139.88點，道指30種成分股中共有20隻股票下跌，金融類股領跌。
此外，證監會(SEC)先前為減少市場投機與降低大盤不正常劇烈震盪，而限制對金融類股「無股賣空」的禁令，剛好於周二到期，預期SEC將會起草一份正式條例將此禁令永久化實施。
分析師還表示，近期油價的下跌抵銷了金融類股糟糕的部分影響——投資者正期望能源價格的下降會增強消費者與企業的支出能力並改善企業盈利前景。受JP摩根正面評價刺激，AMR (AMR)等航空公司的股票當日強勁攀升。
周二油價連續第三個交易日下跌收低。紐約商交所9月份交割的原油期f價格下跌了1.44元，收於每桶113.01元。
自8月7日油價收於每桶120.02元以來，至今油價已經下跌了7.01元。國際能源署和美國能源信息署當日公布的報告同時表明全球石油需求下滑，造成油價繼續下跌。
油價連跌三日 金價大跌八日
黃金期貨價格當日也收低，至此金價已經連續八個交易日下跌，自7月31日至今，每盎司金價累計下跌了超過100元，周二，12月份交割的黃金期貨價格下跌了13.70元，收於每盎司814.60元。
Kerr Trading International總裁科爾(Kevin Kerr)表示：「黃金價格已經大幅下跌。現在的事實是黃金超賣狀況已變得愈來愈嚴重，只要有國際政治局勢緊張的突發新聞或者外匯市場不確定性因素提高，我們就會看到黃金市場突然反彈。」
Wednesday, August 13, 2008
answer only Fire Casulty test
Out of 24 questions, you answered 21 correctly (88%).
To move to the next section, please correct all the questions you got wrong which are highlighted in yellow then click continue button.
(Answers are in red)
It is a course requirement that you must answer 100% of the questions correctly before preceeding to the next session.
1. Insurance is a contract whereby one undertakes to indemnify another against:
Damage
D-According to the California Code of Insurance, insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event. Pg. 33
2. A peril is:
the actual cause of the loss.
C- A Peril is the actual cause of the loss. Some examples of common perils are fire, wind, hail, collision with another car, theft, etc.
3. The uncertainty or chance of a loss occurring is known as:
risk.
B- Risk is the uncertainty or chance of a loss occurring.
4. Which of the following are the main types of risks?
Speculative and Pure
C- There are two main types of risk: pure risk and speculative risk.
5. A hazard is best defined as:
anything that increases the chance of loss or severity of loss due to a peril.
B- A Hazard is anything that increases the chance of loss or severity of loss due to a peril.
6. A hazard that deals with a person`s mental attitude, behavior and habits is an example of:
Moral hazard
C- Moral hazards deal with a person`s mental attitudes, behaviors, and habits. Some examples of moral hazards are drug abuse, dishonest claims, alcoholism, smoking, driving over the speed limit.
7. The law of large numbers is a principal that basically says:.
the larger the amount of information gathered, the more reliable that information will be.
D- The law of large numbers is a principle that basically says, the larger the amount of information gathered, the more reliable that information will be.
8. The term loss exposure refers to:
the possibility of a loss.
B- Exposure means there is a possibility of a loss. Loss Exposure is the degree to which a person or their property is at risk for loss.
9. The degree of loss a person/organization faces from suits brought by a third party refers to:
Liability Loss Exposure
A- Liability Loss Exposure is the degree of loss a person/organization faces from suits brought by a third party.
10. Which of the following is NOT required for a risk to be ideally insurable?
The loss must occur on the insured`s property.
C- A loss may not occur on the insured`s property, such as a liability claim.
11. Any contingent or unknown event, whether past or future, which may damnify a person having an insurable interest or create a liability against him/her, may be insured against. The more unpredictable a loss becomes:
the more insurable it becomes.
A-The more predictable a loss becomes, the less insurable it becomes. The more unpredictable a loss becomes, the more insurable it becomes.
12. Restoring the insured back to the condition he or she was in before the loss occurred is known as:
Indemnification
Restoring the insured back to the condition he or she was in before the loss occurred is known as:
13. The process of reviewing applications for insurance and the information on the application is:
Underwriting
D-Underwriting is the process of reviewing applications for insurance and the information on the application.
14. Which of the following is NOT a known private insurer?
Bond Insurance Companies
C-Bond insurance companies are not considered insurers.
15. Bob is thinking about obtaining insurance because he just found out he needs extensive surgery that will require several days in the hospital. This situation of waiting until the last minute to obtain insurance is known as:
Adverse Selection
B-Adverse selection is when people seek insurance at the last minute when they really need it.
16. Loss control refers to:
taking the necessary precautions that will reduce the risk of a loss.
B-Loss control refers to taking necessary precautions to reduce the risk of a loss.
17. Which of the following is the amount of money the insured pays before the insurer pays for the rest of the claim?
Deductible
D-A deductible is the amount of money the insured pays before the insurer (company) pays the rest of the claim.
18. Which of the following statements is true about reinsurance?
Reinsurance is the process whereby the insurer transfers all or part of the risk to another company.
D- Reinsurance is the process of the insurer transferring all or part of D- Reinsurance is the process whereby the insurer transfers all or part of the risk to another insurer so they share the risk together.
19. Which of the following is defined as `an agreement between two or more parties enforceable by law?`
Contract
A-A contract is defined as an agreement between two or more parties enforceable by law.
20. What are the two types of torts?
Intentional & Unintentional
C-Torts are classified as intentional or unintentional (referred to as negligence).
21. Which of the following elements of a contract is/are the binding force?
Consideration
C-Consideration is the binding force of a contract. What each party considers valuable is the consideration.
22. Which of the following describes when one party intentionally gives the other party false information in order to benefit from the unlawful gain.
Fraud
D-Fraud occurs when one party intentionally gives the other party false information in order to benefit from the unlawful gain.
23. When a right or privilege has been given up, a party cannot reassert that right or privilege. The process of preventing the party from reasserting that right or privilege is known as:
Estoppel
A-This process of preventing a party from reasserting that right or privilege is known as estoppel.
24. According to the California insurance law, either party may rescind a contract for any of the following reasons EXCEPT:
Once a contract is signed, it can never be rescinded.
To move to the next section, please correct all the questions you got wrong which are highlighted in yellow then click continue button.
(Answers are in red)
It is a course requirement that you must answer 100% of the questions correctly before preceeding to the next session.
1. Insurance is a contract whereby one undertakes to indemnify another against:
Damage
D-According to the California Code of Insurance, insurance is a contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event. Pg. 33
2. A peril is:
the actual cause of the loss.
C- A Peril is the actual cause of the loss. Some examples of common perils are fire, wind, hail, collision with another car, theft, etc.
3. The uncertainty or chance of a loss occurring is known as:
risk.
B- Risk is the uncertainty or chance of a loss occurring.
4. Which of the following are the main types of risks?
Speculative and Pure
C- There are two main types of risk: pure risk and speculative risk.
5. A hazard is best defined as:
anything that increases the chance of loss or severity of loss due to a peril.
B- A Hazard is anything that increases the chance of loss or severity of loss due to a peril.
6. A hazard that deals with a person`s mental attitude, behavior and habits is an example of:
Moral hazard
C- Moral hazards deal with a person`s mental attitudes, behaviors, and habits. Some examples of moral hazards are drug abuse, dishonest claims, alcoholism, smoking, driving over the speed limit.
7. The law of large numbers is a principal that basically says:.
the larger the amount of information gathered, the more reliable that information will be.
D- The law of large numbers is a principle that basically says, the larger the amount of information gathered, the more reliable that information will be.
8. The term loss exposure refers to:
the possibility of a loss.
B- Exposure means there is a possibility of a loss. Loss Exposure is the degree to which a person or their property is at risk for loss.
9. The degree of loss a person/organization faces from suits brought by a third party refers to:
Liability Loss Exposure
A- Liability Loss Exposure is the degree of loss a person/organization faces from suits brought by a third party.
10. Which of the following is NOT required for a risk to be ideally insurable?
The loss must occur on the insured`s property.
C- A loss may not occur on the insured`s property, such as a liability claim.
11. Any contingent or unknown event, whether past or future, which may damnify a person having an insurable interest or create a liability against him/her, may be insured against. The more unpredictable a loss becomes:
the more insurable it becomes.
A-The more predictable a loss becomes, the less insurable it becomes. The more unpredictable a loss becomes, the more insurable it becomes.
12. Restoring the insured back to the condition he or she was in before the loss occurred is known as:
Indemnification
Restoring the insured back to the condition he or she was in before the loss occurred is known as:
13. The process of reviewing applications for insurance and the information on the application is:
Underwriting
D-Underwriting is the process of reviewing applications for insurance and the information on the application.
14. Which of the following is NOT a known private insurer?
Bond Insurance Companies
C-Bond insurance companies are not considered insurers.
15. Bob is thinking about obtaining insurance because he just found out he needs extensive surgery that will require several days in the hospital. This situation of waiting until the last minute to obtain insurance is known as:
Adverse Selection
B-Adverse selection is when people seek insurance at the last minute when they really need it.
16. Loss control refers to:
taking the necessary precautions that will reduce the risk of a loss.
B-Loss control refers to taking necessary precautions to reduce the risk of a loss.
17. Which of the following is the amount of money the insured pays before the insurer pays for the rest of the claim?
Deductible
D-A deductible is the amount of money the insured pays before the insurer (company) pays the rest of the claim.
18. Which of the following statements is true about reinsurance?
Reinsurance is the process whereby the insurer transfers all or part of the risk to another company.
D- Reinsurance is the process of the insurer transferring all or part of D- Reinsurance is the process whereby the insurer transfers all or part of the risk to another insurer so they share the risk together.
19. Which of the following is defined as `an agreement between two or more parties enforceable by law?`
Contract
A-A contract is defined as an agreement between two or more parties enforceable by law.
20. What are the two types of torts?
Intentional & Unintentional
C-Torts are classified as intentional or unintentional (referred to as negligence).
21. Which of the following elements of a contract is/are the binding force?
Consideration
C-Consideration is the binding force of a contract. What each party considers valuable is the consideration.
22. Which of the following describes when one party intentionally gives the other party false information in order to benefit from the unlawful gain.
Fraud
D-Fraud occurs when one party intentionally gives the other party false information in order to benefit from the unlawful gain.
23. When a right or privilege has been given up, a party cannot reassert that right or privilege. The process of preventing the party from reasserting that right or privilege is known as:
Estoppel
A-This process of preventing a party from reasserting that right or privilege is known as estoppel.
24. According to the California insurance law, either party may rescind a contract for any of the following reasons EXCEPT:
Once a contract is signed, it can never be rescinded.
Tuesday, August 5, 2008
民主黨州參議員余胤良提出的SB 697號提案
禁 討 保 險 差 額
州 眾 院 過 一 關
根據APCO最近的一項調查顯示，在過去兩年，176萬名已有醫療保險的加州居民在就醫後，收到醫院寄來的保險差額尾數帳單，金額由少於100元至超過2萬元不等。大部分受影響民眾是已加入加州為低收入家庭兒童而設的「健康家庭」（Healthy Families）保險計劃，或為孕婦而設的AIM計劃受惠人。
保險差額尾數帳務（balance billing）是指當病人接受服務的費用超越保險計劃的合約金額，或病人曾使用非合約服務，例如麻醉師、放射治療師、病理學家、或急症室醫生所提供的服務，醫療機構向病人收取由保險計劃承擔以外的費用。
一項由民主黨州參議員余胤良提出的SB 697號提案，禁止醫
療機構向Healthy Families及AIM計劃的受惠人收取保險差額，提案昨日在眾議院以70對0票通過。現時聯邦及加州的法例已嚴禁醫療機構向「醫療照顧」（Medicare）及加州政府醫療補助（Medi-Cal）的受惠人收取保險差額。
業界這收取保險差額的做法，令不少C收入家庭即使有健保計劃的保障，亦會負上驚人的醫療開支。一般而言，非健保合約醫生較合約醫生收取更高的費用。一項最近的調查發現非合約醫生向「健康家庭」（Healthy Families）受惠人收取較合約醫生高出206%至1769%的收費。最極端的例子是醫生對住院病人的首次診症，Medi-Cal承保金額為53.92元，但非合約醫生向Healthy Families受惠人收取平均966.20元的診金。
余胤良指收取保險差額尾數的做法不公平，低收入家庭無必要支付這類帳單。而為低收入人士爭取法律權益組織Advocate for the Western Center on Law and Poverty亦指出，使用保險網絡以外的服務並非病人的過失，因而不應由病人承擔共付金額以外的收費。
SB 697號提案仍須獲參議院通過才會送交州長審議。
2008-08-06
州 眾 院 過 一 關
根據APCO最近的一項調查顯示，在過去兩年，176萬名已有醫療保險的加州居民在就醫後，收到醫院寄來的保險差額尾數帳單，金額由少於100元至超過2萬元不等。大部分受影響民眾是已加入加州為低收入家庭兒童而設的「健康家庭」（Healthy Families）保險計劃，或為孕婦而設的AIM計劃受惠人。
保險差額尾數帳務（balance billing）是指當病人接受服務的費用超越保險計劃的合約金額，或病人曾使用非合約服務，例如麻醉師、放射治療師、病理學家、或急症室醫生所提供的服務，醫療機構向病人收取由保險計劃承擔以外的費用。
一項由民主黨州參議員余胤良提出的SB 697號提案，禁止醫
療機構向Healthy Families及AIM計劃的受惠人收取保險差額，提案昨日在眾議院以70對0票通過。現時聯邦及加州的法例已嚴禁醫療機構向「醫療照顧」（Medicare）及加州政府醫療補助（Medi-Cal）的受惠人收取保險差額。
業界這收取保險差額的做法，令不少C收入家庭即使有健保計劃的保障，亦會負上驚人的醫療開支。一般而言，非健保合約醫生較合約醫生收取更高的費用。一項最近的調查發現非合約醫生向「健康家庭」（Healthy Families）受惠人收取較合約醫生高出206%至1769%的收費。最極端的例子是醫生對住院病人的首次診症，Medi-Cal承保金額為53.92元，但非合約醫生向Healthy Families受惠人收取平均966.20元的診金。
余胤良指收取保險差額尾數的做法不公平，低收入家庭無必要支付這類帳單。而為低收入人士爭取法律權益組織Advocate for the Western Center on Law and Poverty亦指出，使用保險網絡以外的服務並非病人的過失，因而不應由病人承擔共付金額以外的收費。
SB 697號提案仍須獲參議院通過才會送交州長審議。
2008-08-06
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