Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

CPCU 520-02

Chapter 2

National Assoc. of Ins. Commissioners (NAIC) An association consisting of ins. com. of each state to coordinate reg. activities amount verioius ins. depts.
Model Law a draft bill - the suggested wording of new law - for consideration by state legislatures. Any state many choose to adopt the model bill or adopt it with modifications.
Model Regulation a draft regulation that may be implemented by a state ins. dept. if the model law is passed.
Domestic Insurer an insurer doing business in its home state
Foreign Insurer a US insurer doing business in a state that is not its home state
Alien Insurer an insurer domiciled outside of the U.S.
Surplus Lines Laws State laws that permit producers with a serplus lines license to write biz for an non-admitted insurer when protection from admitted insurers is not avail.
Guarantee Funds state estab. funs providing for pymnt of unpaid claims of insolvent insurers lic. in that state.
Mandatory Rate Law State law uner which ins. rates are set by state agency and all lic. insr. req. to use those rates.
Prior Approval Law ins. rates must be approved by state ins. dept. before they can be used.
File and Use Law ubs, rates must be filed with state ins. dept. but can then be used immediately.
Use and File Law ins. rated can be put into effect with filing info subsequently submitted and subject to reg. review.
Flex Rating Law prior approval is req. only if new rates exceed a certain percentage above the rates prev. filed.
Open Competition System rates do not have to be filed with the state ins. dept.
Unfair Trade Practices Acts state laws prohib. ins. from using unfair methods of competition and engaging in unfacir acts or practices as defined in the acts.
Advisory Organizations ins. orgs that work with and on behalf of ins. that purchase or subscribe to their services.
Created by: holl6425
Popular Standardized Tests sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards