The Purpose of the Financial Analysis Solvency Tracking (FAST)system Employed

question 24

Multiple Choice

The purpose of the Financial Analysis Solvency Tracking (FAST) system employed by the NAIC is to

• A)prioritize insurance companies for additional regulatory action.
• B)quicken the approval of rates in prior approval states.
• C)speed-up the claims settlement process for insurers charged with delaying claims payments.
• D)quickly address market conduct complaints by consumers.

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Definitions:

Preconscious Mind

Part of the mind containing thoughts and feelings that are not currently in consciousness but can be accessed with attention.

Unconscious Mind

A part of the mind that contains thoughts, memories, and desires not within the sphere of current consciousness, influencing behavior.

Conscious Mind

The aspect of mind that is aware of thoughts, feelings, and surroundings at any given moment.

Regression

A defense mechanism in psychoanalytic theory where an individual's behavior reverts to an earlier stage of development when faced with stress.