General Insurance PrinciplesCâu 201 / 474
An insurer declines an application partly because of information in a consumer report. The Fair Credit Reporting Act requires the insurer to:
a.pay for a new report from a second agency before deciding
b.tell the applicant and name the agency that supplied the report
c.hold the file open until the applicant repairs the credit record
d.keep the source confidential to protect the reporting agency
Giải thích
Adverse action taken wholly or partly on a consumer report triggers a notice to the consumer that identifies the reporting agency, and the consumer may then obtain a copy of the report and dispute anything inaccurate. Withholding the source is exactly what the act forbids, since the consumer could not otherwise correct the file. The act does not require a second report or force the insurer to leave the application pending.
Luyện miễn phí toàn bộ 474 câu hỏi — không cần đăng ký.
Own the complete Personal Lines Insurance Producer guide — PDF + EPUB, $19.99 →
Câu hỏi liên quan cùng chủ đề
- A filed rate must be adequate, not excessive and not unfairly discriminatory. The rate itself is built from the expected loss cost plus:
- A producer offers to pay a client's first month of premium out of her own commission if the client signs today. This practice is:
- An insurer earns $10,000,000 of premium in a year and incurs $7,500,000 of losses on that business. Its loss ratio is:
- A producer promises to add a water back-up endorsement, forgets to order it, and the client later suffers an uncovered basement loss. The producer's exposure is met by:
- Under federal law at 18 U.S.C. 1033, a person convicted of a felony involving dishonesty may work in the business of insurance only if:
- The Gramm-Leach-Bliley Act requires an insurer to give its customers a privacy notice that:
Cập nhật gần nhất: · quy trình kiểm tra
Đội ngũ PrepPass · Đối chiếu với California Personal Lines Insurance License Exam · Quy trình kiểm tra