Which of the following actions can an agent's license be suspended or revoked?
Asked by: Amani Ruecker | Last update: August 17, 2025Score: 5/5 (4 votes)
Which of the following actions can an agents license be suspended or revoked?
Final answer: For actions including failure to comply with ethical standards, engaging in fraudulent activities, and misrepresentation of information, an agent's license can be suspended or revoked.
Which of the following has the power to suspend or revoke an agent license Quizlet?
Any licensed agent who has committed any offense denounced by the Code may have his/her license suspended or revoked by the Commissioner.
Who can revoke an agent's license?
An agent's license can be suspended or revoked by a state insurance commissioner or a court judge.
Which of the following situations would result in the suspension of an insurance agent's license?
Intentionally misrepresenting the provisions of a policy, forging a name on an insurance application, and being convicted of a felony can all lead to the suspension of an agent's license due to ethical violations or criminal activities.
What Actions Did the SEC Take to Protect Investors after the Revocation Exercise?
Which activity may result in suspension or revocation of an agent's license?
Providing incorrect, misleading, incomplete, or otherwise false information in an agent license application. Violating a state insurance law, regulation, or subpoena in the agent's domicile state or any other state. Trying to get licensed through misrepresentation or fraud.
Which of the following is a reason your insurance may be revoked?
Final answer: Insurance may be revoked for filing a false claim, lying on the application, or not paying the bill on time.
Which of the following would be a valid reason for suspending or revoking an insurance agent license?
Final answer: Valid reasons for suspending or revoking an insurance producer's license include writing primarily controlled business and involvement in dishonesty or fraud related to insurance activities.
What is revocation of authority of an agent?
The authority of an agent may be revoked at any time by the principal. However, unilateral revocation otherwise than in accordance with the provisions of the agency agreement may render the principal liable to the agent for breach of the agency agreement.
Who revokes the license?
1. Who or which government agencies have the power to revoke a driver's license? Without prejudice toward the authority of the court in appropriate cases, only the LTO chief has the exclusive power and authority to suspend or revoke any driver's license issued under Republic Act 4136 (Section 27).
What are reasons to revoke or suspend a physician's license quizlet?
A physician's license to practice may be revoked or suspended as a result of (1) conviction of a crime, (2) unprofessional conduct, and (3) personal or professional incapacity. Each of these conditions is defined by state statute.
What is an example of rebating?
An example of rebating is when the prospective insurance buyer receives a refund of all or part of the commission for the insurance sale.
Which of the following terminates an agent's actual authority?
An agent's actual authority terminates (1) as agreed by the agent and the principal, subject to the provisions of § 3.10; or (2) upon the occurrence of circumstances on the basis of which the agent should reasonably conclude that the principal no longer would assent to the agent's taking action on the principal's ...
What illegal behavior would result in a license revoked?
Driving-Related Grounds for License Revocation
Driving under the influence of alcohol or drugs (DUI) Reckless driving. Leaving the scene of an injury accident. Failure to answer a traffic summons.
Which of the following actions may result in an agent's license being suspended?
The Commissioner will suspend or revoke an existing license, or deny a new license for any of the following reasons: willful violations of state insurance laws, intentional material misstatements in the license application, and rebates of insurance premiums, among other offenses.
Can an agent's license be suspended or revoked by writing primarily controlled business?
Explanation: An agent's license can be suspended or revoked for various reasons, but among the options provided, writing primarily controlled business, replacing an existing insurance policy with a new one, and issuing a binding receipt are not typically grounds for suspension or revocation.
What are the three types of revocation?
- by operation of law,
- by a subsequent will or codicil, and.
- by physical act.
What is an example of revocation of agency?
Imagine Raj appoints Anita as his agent to sell his car. Here's how Section 201 of The Indian Contract Act, 1872 could apply: If Raj decides he no longer wants to sell his car, he can revoke Anita's authority to act as his agent, effectively terminating the agency.
What are acts of revocation?
A person may revoke their will by act so that it is no longer valid. The person must intend to revoke the will and also act to revoke the will. Acceptable acts of revocation include burning, tearing, canceling, obliterating or destroying the will.
Which of the following are reasons for the suspension of a physician's license?
Suspension of this license can result from medical malpractice, substance abuse, criminal behavior, professional misconduct, or fraudulent billing.
Which of the following terms describes the act of revoking or terminating one's insurance policy?
Cancellation The termination of insurance coverage during the policy period. Flat cancellation is the cancellation of a policy as of its effective date, without any premium charge.
Which action would not result in suspension of an agent's license?
Representing a foreign insurance company does not result in the revocation or suspension of an agent's license.
Why is my license suspended for insurance?
California. California's Vehicle Code Section 16070 allows for the suspension of a driver's license if the driver is involved in an accident and fails to meet the financial responsibility requirements. This includes not settling any unpaid insurance claims or judgments arising from the accident.
Which of the following would be valid reason for suspending or revoking an insurance producer's license?
Final answer: The most valid reason for suspending or revoking an insurance producer's license from the given options is the producer's misappropriation of money held in a fiduciary capacity. It signifies a breach of trust and potential criminal conduct.
Which of the following has the authority to revoke an insurance producer's license?
The state government has the authority to revoke a producer's license because insurance is primarily regulated at the state level. The state's insurance department is responsible for ensuring compliance with regulations. Other entities, like insurance companies or federal government, do not have this authority.