Which of the Following Statements Is True About the Insurance

question 8

Multiple Choice

Which of the following statements is true about the insurance regulation scheme?

• A)Under the current scheme, federal legislatures pass insurance laws that form the basis for insurance regulation.
• B)To ensure the smooth operation of insurance markets and the solvency of insurers, insurance laws are concerned only with the operations and investments of insurers.
• C)Trade practices, including marketing and claims adjustment, are not part of the law.
• D)The laws provide standards of financial solvency, including methods of establishing reserves and the types of investments permitted.
• E)State insurance laws are concerned not only with the licensing requirements for insurers, agents, brokers, and claims adjusters.

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Definitions:

American Hispanics

Individuals in the United States of Hispanic heritage or origin, including those from Latin American countries.

Identify

To recognize or establish as being a particular person or thing; verify the identity of.

Blacks

Individuals of African descent, emphasizing their cultural, historical, and social contributions and experiences across the globe.

American Population

The total number of people living in the United States, a diverse mix of ethnicities, cultures, and races.