The purpose of the Gramm-Leach-Bliley Act is to:

a. Rule that insurance transactions crossing state lines are interstate commerce

(b.) Allow financial entities to merge and accommodate greater competition

c. Regulate the way credit information is collected and used

d. Rule that insurance is primarily regulated on a state-level with minimal federal oversight

Answer: B

State Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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The pro rata liability clause is designed to protect the principle of
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A domestic insurer issuing variable contracts must establish one or more
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A beneficiary change can occur
No existing agent's license will be revoked until
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The pro rata liability clause is designed to protect the principle of
The two major actions required for a policyholder to comply with the Reinstatement Clause are
Life insurance policies will normally pay for losses arising from
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Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
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How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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The pro rata liability clause is designed to protect the principle of
When the principal gives the agent authority in writing, it's referred to as
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What is the purpose of establishing the target premium for a universal life policy?
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What documentation grants express authority to an agent?

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