All of the following statements about insurance regulation are true EXCEPT
A) Insurance commissioners are appointed in some states and elected in some states.
B) Insurers are subject to regulation by certain federal agencies and laws.
C) The National Association of Insurance Commissioners (NAIC) can force states to adopt the model laws that it drafts.
D) An insurance commissioner can revoke or suspend an insurer's license to do business in his or her state.
Answer: C
You might also like to view...
What rationales do U.S. nonexporting firms often offer to explain their avoidance of foreign markets?
What will be an ideal response?
A term of a lease required that the landlord provide exterminating services monthly to control rats and other pests. The landlord failed to do this despite numerous requests placed by the tenant, and the premises became overrun by rats. This may be considered:
a. a breach of the covenant of quiet enjoyment. b. a physical eviction. c. active waste. d. a constructive eviction.
Unrealized holding gains or losses on trading investments are reported in the ________
A) current assets section of the balance sheet B) other revenues and expenses section of the income statement C) intangible assets section of the balance sheet D) accumulated other comprehensive income section of stockholder's equity
An attorney receives a check from the defendant in settlement of a lawsuit brought by his client, the plaintiff. Even if the check is made out in the name of the attorney, it will belong to the client as a:
a. resulting trust. b. constructive trust. c. totten trust. d. spendthrift trust.