The Department does not specify an official study manual. You are free to use materials of your own choosing to prepare for the license exam. However, because.
S H I R E I N S U R A N C E D E P A R T M E N T
NEW HAMPSHIRE
Insurance Department
Licensing Information Bulletin
Effective as of June 1, 2020
Register online at www.prometric.com/newhampshire/insurance
Published by Prometric Providing License Examinations for the State of New Hampshire Copyright © 2019-2020, Prometric LLC REVISED 01312020
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Introduction
3
A Message from the Department.................... 3
Overview of Licensing Process ....................... 3
New Hampshire Licensing Requirements5 Types of Licenses ......................................... 5
Exam Waivers .......................................... 6 Temporary Licenses .................................. 6 Residency Requirements ............................... 7 Residents ................................................. 7 New Residents .......................................... 7 Nonresidents ............................................ 7
Scheduling Your Exam
8
Registering and Scheduling Information ......... 8
Online...................................................... 8
By fax or mail........................................... 8
By phone ................................................. 9
Reschedule and Cancellation ...................... 9
If absent or late for your appointment ........ 9
Test Centers ................................................ 9
Holidays................................................... 9
Emergency Closings .................................. 9
Testing ...................................................... 10
Accommodations ........................................ 10
Contents
Preparing for Your Exam
11
Study Materials .......................................... 11
Content Outlines Overview .......................... 11
Practice Exams ........................................... 11
Taking Your Exam
12
Testing Process .......................................... 12
Test center regulations................................ 12
Question types ........................................... 14
Experimental Questions............................... 14
Exam Results ............................................. 15
Sample score report ................................ 15
Appeals process.......................................... 15
Applying for Your License
16
Submitting an Application............................ 16
Resident producer application procedures 16
Resident adjuster applicants .................... 16
Nonresident Adjuster application procedures16
Renewal Dates ........................................... 17
Continuing Education .................................. 17
Exam Content Outlines
18
Exam Registration Form
76
Credit Card Payment Form
77
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Introduction
A Message from the Department
This handbook provides you with information about the processes for taking an examination and becoming licensed by the New Hampshire Insurance Department. It also contains information that is useful after you become licensed. We suggest you keep this handbook for future reference. The Department has contracted with Prometric to conduct its examination program.
We wish you well in preparing for your examination and remind you that by law you are required to continue your insurance education after becoming licensed. Remember that a license is a privilege, not a right or a gift. You must commit yourself from the beginning to comply with the laws and regulations set forth to regulate the insurance industry.
This handbook provides information about the examination and licensing process for
Overview of
obtaining a resident insurance license. You should read this Licensing Handbook including the examination content outlines prior to taking an exam. If interested in
Licensing
applying for a nonresident license, you can apply online via NIPR at www.nipr.com
Process
or an NIPR authorized business partner.
Licensing Process
Follow these main steps if you are interested in obtaining an insurance
license.
1 Review this handbook thoroughly to determine any exams needed and other license requirements.
2 Schedule your exam. The easiest way to schedule is online at http://www.prometric.com/newhampshire/insurance
3 Prepare for your exam, using this bulletin and materials from other sources. The content outlines at the back of this guide are the basis for the exams.
4 Take the scheduled exam, bringing required identification to the test center. You will receive your results immediately after the exam. If you pass it, go on to step 5. If you do not pass, repeat steps 2 through 4.
5 Apply for your license through the Department. (See Applying for your license)
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To get answers not provided in this handbook
Visit our Website: http://www.prometric.com/newhampshire/insurance Frequently Asked Questions are available: https://www.prometric.com/en-
us/clients/insurance/Documents/newhampshire/NHInsuranceExamFAQs. pdf
Direct applications and questions about licensure to: State of New Hampshire Insurance Department License Division 21 South Fruit Street, Suite 14 Concord, NH 03301 Phone: 603.271.0203 Fax: 603.271.7029 Visit the Department's website at http://www.nh.gov/insurance
Direct all questions and requests for information about exams to: Prometric Website: www.prometric.com/newhampshire/insurance Phone: 800.869.6603 Fax: 800. 347-9242 TDD User: 800.790.3926
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New Hampshire Licensing Requirements
This section describes:
· The licensing process. · The types of licenses offered, including exam waivers and temporary
licenses.
· Residency requirements.
New Hampshire statutes and regulations require that anyone who sells, solicits, or negotiates insurance, provides insurance advice for a fee or otherwise receives compensation for representing insurance to the public, be licensed.
The Department has a single producer licensing system. Producers may act as agents, brokers or consultants. To be an authorized agent for any company, an entity must be a licensed producer and the insurance company must register an agent appointment within 15 days of initiating business with a producer (RSA 402-J:14 Appointments and Authority).
Generally, if you are applying for a producer or adjuster license, you should:
1 Pass an exam to confirm that you have attained a minimum level of knowledge regarding the statutes and regulations affecting the insurance profession and the services you will sell or represent to the public.
2 Submit a completed license application and appropriate fees to the Department. (Further information can be found at: http://www.nh.gov/insurance/producers/license.htm
Note Passing an exam does not guarantee that you will be issued a license. If
you take an exam unnecessarily or are found unqualified, neither the exam fee nor the license-processing fee will be refunded.
Types of Licenses
The following table shows the licenses available from the Department, the series number of the required exam and additional notes.
Producer License Line of Authority Life Accident and Health Property and Casualty Variable Contracts
Title Property Casualty Personal Credit Surplus
Exam Series
Notes
12-61 or 12-63 12-62 or 12-63 12-64
12-72 12-84 12-85 12-86 12-87
You must also pass FINRA Series 63, 66 or be a NH Registered Representative. You must supply your FINRA CRD number on the application for license and have a Life license.
No exam, but P & C license required
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Adjuster License Line of Authority Property and Casualty Workers' Compensation
Exam Series
12-75 12-76
Notes
Public Adjuster License
Line of Authority
Public Adjuster
Exam Series
Notes
12-73
Nonresidents must take NH exam
Exam Waivers
If you have a CPCU designation and are applying for a Property and Casualty license, you only need to take and pass the New Hampshire Property and Casualty Insurance Laws and Regulations (12-81) exam or the New Hampshire Adjuster's Property and Casualty Insurance Laws and Regulations (12-83) exam.
If you have a CLU designation and are applying for only a Life license, you need only take and pass the New Hampshire Life Insurance Laws and Regulations (12-78) exam; if you are applying for only an Accident and Health license, you only need to take and pass the New Hampshire Accident and Health Insurance Laws and Regulations (12-79) exam; or if you are applying only for the Life, Accident and Health license, you only need to take the New Hampshire Life, Accident and Health Insurance Laws and Regulations (12-80) exam.
Temporary Licenses
The Commissioner may issue a temporary license that will allow you to serve as a producer for up to six months without taking an examination. In general, temporary licenses are intended for use when extenuating circumstances exist that require a designee to substitute for the producer (e.g., death or induction into active military duty of an active agent or broker). The Commissioner may grant a temporary license if, in his opinion, such action would best serve the public interest. (For more information, please contact the Department.) Please refer to RSA 402-J:11.
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Residency Requirements
Requirements for licensing vary according to whether the applicant currently resides in New Hampshire or outside the state.
Residents
Residents must successfully complete the appropriate examination for the license type and lines of authority sought, and submit the appropriate application and fees.
New Residents
If you are a new resident of New Hampshire and have, within the past 90 days, held a producers license in another state, no exams are required. If you are applying for a Property & Casualty Adjuster license, you must successfully complete the New Hampshire Adjuster's Property and Casualty Insurance Laws and Regulations (12-83) exam. In all cases, you must relinquish the resident license from your previous state; the Department will verify the former resident license is now inactive or applicant holds a non-resident license in the former resident state.
The Laws and Regulations exams are not available for Workers' Compensation Adjusters or Public Adjusters.
Nonresidents
If you are applying for a nonresident license and hold a similar license in your home state, you will not have to take an exam. If you are applying for an adjuster license, you will need to be licensed in your resident state, designated home state or have 6 months verifiable experience in the lines of authority that you are seeking in New Hampshire.
Note Nonresident individual producers and claims adjusters with resident or
designated home state licenses are required to apply for original and renewal licenses online with the NAIC at the National Insurance Producer Registry at http://www.nipr.com/.
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SchedulingYour Exam
Registering and Scheduling Information
The New Hampshire Department of Insurance and Prometric are pleased to announce the ability to schedule your New Hampshire Insurance exams in two ways either in a physical test center or in a remotely proctored testing location using Prometric's ProProctorTM application. You may take the exam at any Prometric test center in the United States or in a remotely proctored location.
*ProProctor ProProctor gives you greater flexibility to choose where to test, when to test and how to test. It is a reliable, convenient yet secure testing experience.
For a ProProctor exam you must provide a computer (tablets prohibited) with a camera, microphone and an internet connection. To confirm your computer will allow you to test through ProProctorTM please perform a system check prior to scheduling your ProProctor exam.
You can reference our User Guide for additional technical and environmental requirements.
ProProctor System Requirements Laptop/PC Power Source Please plug your device directly into a power source, unattached from a docking station.
Screen Resolution 1024 x 768 is the minimum resolution required
Operating System Windows 7 or higher | MacOS 10.13 or higher
Web Browser Current version of Google Chrome
Internet Connection Speed 0.5 mbps or greater
Wi-Fi Connection Please position your device where you can receive the strongest signal. For the best experience, please use an ethernet cable to connect directly to the router Follow the instructions here to register and schedule an appointment.
Testing Accommodations. If you require an Americans with Disabilities Act (ADA) accommodation(s) or English as Second Language (ESL) additional time, see the Testing Accommodations section below:
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Register and schedule online--it saves time and it's easy!
You can easily register and schedule your exam online at any time using our Internet Registration Service by going to:
1. http://www.prometric.com/newhampshire/insurance. 2. Click on Create or Login to Your Account to register. You can
immediately schedule your exam once you create your account or log in later to schedule your exam. 3. If you choose to take your exam in a Test Center then click on Schedule Test Center and follow the prompts. 4. If you choose to take your exam in in a Remotely Proctored location, then click on Schedule Remote Proctor* and follow the prompts.
Important Note: Every candidate will need to create a new account, but those with existing profiles will need to use the Welcome email as a starting point. If a candidate creates a new profile without using that link, a duplicate profile will be created and could result in scheduling challenges.
*Remote Proctoring ProProctor gives you greater flexibility to choose
where to test, when to test and how to test. It is a reliable, convenient yet secure testing experience.
By fax or mail
You may fax the completed Exam Registration Form found at the end of this handbook to Prometric to (800) 347-9242. You must also include the completed Credit Card Payment Form (Visa, MasterCard or American Express). The cardholder's signature must be on the Form.
OR You may mail the completed Exam Registration Form and the appropriate exam fee to the address on the form. When registering by mail, you may pay the exam fee by Visa, MasterCard or American Express, company check, cashier's check or money order. Personal checks and cash are not accepted.
If paying by credit card, you must also include the completed Credit Card Payment Form (Visa, MasterCard or American Express). The cardholder's signature must be on the Form. including a Visa, MasterCard or American Express, company check, cashier's check or money order.
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By phone
If you are unable to schedule online, you may schedule the examination by calling (800) 869-6603 between 8 a.m. and 9 p.m. (Eastern Time), Monday through Friday, and between 10 a.m. and 3 p.m. (Eastern Time), Saturday and Sunday. Please have your exam information and credit card information for payment available.
Note An exam registration remains valid for 90 calendar days after it has been
processed. It will expire without further notice at that time. We recommend that you do not register for your exam until you are prepared to take your exam.
Test Centers
Reschedule and Cancellation
To reschedule your existing exam appointment, you must contact Prometric 24 hours prior to the exam appointment date in order to avoid forfeiting your exam fee.
To cancel your existing exam appointment, you must contact Prometric at least three (3) calendar days prior to your scheduled exam appointment in order to avoid forfeiting $40 of your original exam fee. After you cancel your exam, you must initiate a refund by going to https://fs6.formsite.com/Prometric/form33/index.html and completing the refund form.
Prometric will review refund requests and email decisions to you within 7-10 business days of receipt unless further research and/or documentation are required. Prometric reserves the right to request documentation to support any illness or emergency claim. Refund requests made via phone will not be accepted.
If you change or cancel your appointment without proper notice, you will forfeit your examination fee(s).
If absent or late for your appointment
If you miss your appointment, or arrive late and are not allowed to test, you will forfeit your exam fee(s).
You may take your examination at any Prometric test center in the United States. A complete list of test center locations may be found by going to http://www.prometric.com/newhampshire/insurance click on Check appointment availability.
Test center locations are subject to change. Be sure to verify the address and directions to your destination before you leave for your exam.
Holidays
Testing generally does not occur on federal holidays. Additional state holidays may be observed in the state where your schedule the exam appointment.
Emergency Closings
Severe weather or an emergency could require canceling scheduled exams. If this occurs, Prometric will attempt to contact you by phone; however, you may check for
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testing site closures by checking our website at https://www.prometric.com/en-us/pages/siteclosure.aspx or calling Prometric at (866) 370-3411. If the site is closed, the exam will be rescheduled without a rescheduling fee.
If a test center is open for testing and you choose not to appear for the appointment, you will forfeit the exam fees and must reschedule and pay another exam fee.
Testing Accommodations
ADA Accommodation. Reasonable testing accommodations are provided to allow candidates with documented disabilities recognized under the ADA an opportunity to demonstrate their skills and knowledge. Prometric makes every effort to provide reasonable testing accommodations that enable all test takers to take examinations.
If you require testing accommodations under the Americans with Disabilities Act (ADA), please complete and submit a Testing Accommodation Request Form online at https://www.prometric.com/en-us/for-test-takers/prepare-for-testday/pages/arrange-testing-accommodations.aspx, or contact Prometric at (888) 226-9406 to obtain an Accommodation Request Form.
Professional documentation of the disability must be submitted with the Accommodation Request Form to aid Prometric in determining the appropriate testing accommodations. Thirty days' advance notice is required for all testing arrangements. There is no additional charge for these accommodations.
ESL Accommodation. All examinations are given in English. If English is not your primary language, you may qualify for additional time for the test by requesting an ESL Authorization from Prometric. To request an ESL authorization, please submit :
A personal letter requesting the authorization; and
A letter from the English instructor or sponsoring company (on company letterhead), certifying that English is not your primary language.
Please fax documents to 800.347.9242 and allow three (3) days for processing. If your request is approved, Prometric may extend the time limit on your examination to time-and-one-half or 150% of the normal time limit. Prometric will inform you by mail whether your request for accommodation is approved. You should not schedule your exam until you have received the confirmation email. Exams scheduled before the ESL request has been approved will not include extra time.
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Preparing for Your Exam
Study Materials
Being well prepared can help you pass your exam and possibly save you money and time spent retaking it. This section offers:
· Information about study materials. · An overview of the exam content outlines. · Practice Exams.
Not all questions on the exams will necessarily be covered in your study materials. The content outlines are updated periodically, and outdated study materials may not be consistent with them. Where such discrepancies exist, the outlines take precedence. Make sure your study materials cover the topics in the outlines.
The Department does not specify an official study manual. You are free to use materials of your own choosing to prepare for the license exam. However, because of the number, the diversity of approach and the currency of other publications, neither the Department nor Prometric lists or recommends study materials.
Content Outlines Overview
The license examination for each type of license consists of questions that test knowledge of topical areas listed in the content outline for that exam. An overview of each examination content outline appears in this bulletin. You can view a complete outline specific to your examination online at http://www.prometric.com/newhampshire/insurance. Click on Review the test content outlines.
Licenses for the major lines such as Life, Accident and Health, or Property and Casualty are attained by taking a comprehensive exam. Each exam will cover the New Hampshire statutes and general insurance principles sections, as well as the specific content for each line.
Note The results of the combination Life, Accident and Health examinations are
reflected in one final score. You must pass the complete examination to qualify for a license.
Practice Exams To take a practice exam, select or copy the link below to your browser:
https://tcnet1.prometric.com/Login.aspx?ibt=853298600&ClientNameSingleSi te=practice-insurance.
While practice exams contain general, non-state specific insurance questions, they are created in the same format and use the same question types as the actual licensure exams. Practice exams are designed to help you become familiar with the computer-based testing process.
During the practice exam, you will get immediate feedback to correct and incorrect responses as well as overall feedback at the end of the session just as you would during the actual exam. Practice exams are available for:
· (LIPA) Life Insurance Producer/Agent Practice Exam in English and Spanish
· (HIPA) Health Insurance Producer/Agent Practice Exam in English and Spanish
· (PIPA) Property & Casualty Insurance Producer Practice Exam in English only
There is no cost to take Prometric Practice Exams!
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Taking Your Exam
Testing Process
Knowing what to expect when taking your exam may help you prepare for it. This section contains:
· An overview of the testing process. · Regulations that will be enforced at the testing center. · Information about the types of questions. · A guide to understanding your exam results. · Information about appeals.
Your exam will be administered by computer but you do not need any computer experience or typing skill to take your exam.
Arrival. You should arrive at least 30 minutes before your scheduled exam appointment. This allows time for you to sign in and for staff to verify your identification.
Identification required. You must present a valid form of identification before you can test. The identification document must:
· Be government-issued (e.g., driver's license, state-issued identification card or
military identification card).
· Contain both a current photo and your signature (if not you must present two
identification cards: one with your photo and one with your signature).
· Have a name that exactly matches the name used to register for the exam
(including designations such as "Jr." and "III").
Important Failure to provide appropriate identification at the time of the exam
is considered a missed appointment. As a result, you must reschedule your appointment. If you cannot provide the identification listed above, contact Prometric before scheduling your appointment to arrange an alternative way to meet this requirement.
Test Center Regulations
Copyrighted questions. All test questions are the property of Prometric and
are protected by copyright. Federal law provides severe civil and criminal penalties for the unauthorized reproduction, distribution, or exhibition of copyrighted materials.
To ensure that all candidates are tested under similar conditions, the following regulations and procedures will be enforced at each test center. Failure to follow any of these security procedures may result in your being disqualified from taking an examination.
1 While in the test center, you will be continuously monitored by video. During your examination, you will also be monitored by physical walk-throughs and through an observation window. All testing sessions are video and audio recorded.
2 You must present valid (unexpired) and acceptable ID(s) in order to take your test. (See "Identification required" in the previous section).
3 You will be scanned with a metal detector wand prior to every entry into the test room. If you refuse, you cannot test.
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4 You will be required to raise your pants legs above your ankles, empty and turn all pockets inside-out and raise shirt sleeves above your wrists prior to every entry into the test room.
5 If you are wearing eyeglasses, you will be required to remove them for visual inspection to ensure they don't contain a recording device. Large jewelry items must be stored in your locker due to concerns over concealed recording devices.
6 You must sign the test center roster each time you leave the test room. You must also sign back in and show your ID to the Test Center Administrator (TCA) in order to re-enter the test room.
7 You are prohibited from communicating, publishing, reproducing, or transmitting any part of your test, in any form or by any means, verbal or written, for any purpose.
8 You must not talk to other candidates or refer to their screens, testing materials, or written notes in the test room.
9 You must not use written notes, published materials, or other testing aids. 10 You are allowed to bring soft ear plugs or center-supplied tissues into the
test room. 11 Any clothing or jewelry items allowed to be worn in the test room must
remain on your person at all times. Removed clothing or jewelry items must be stored in your locker. 12 You must not bring any personal/unauthorized items into the testing room. Such items include but are not limited to outerwear, hats, food, drinks, purses, briefcases, notebooks, pagers, watches, cellular telephones, recording devices, and photographic equipment. Weapons are not allowed at any Prometric test center. You will be asked to empty and turn your pockets inside out prior to every entry into the test room to confirm that you have no prohibited items. 13 You must return all materials issued to you by the test center administrator ("TCA") at the end of your test. 14 You are not allowed to use any electronic device or phone during breaks. 15 If you have a medical condition that may require you to access food or medicine during your exam session, you must store those items separately from other items you place in the test center locker. You must inform the TCA before you retrieve the food or medicine, and the TCA will observe you obtaining the item from the locker. You are not allowed to access any item other than food or medicine needed for a medical reason. 16 You must conduct yourself in a civil manner at all times when on the premises of the test center. Exhibiting abusive behavior towards the TCA or any other staff member of the test center may result in examination disqualification and criminal prosecution.
Failure to follow any of these security procedures may result in the disqualification of the examination. Prometric reserves the right to audio and videotape any examination session.
For more information on Prometric test center regulations, please visit: www.prometric.com/en-us/for-test-takers/prepare-for-testday/documents/TestCenterRegulations.pdf
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Question types
Question Formats Format 1--Direct Question
Please note: Test center administrators are not allowed to answer any questions pertaining to the exam content. If you do not understand a question on the examination, you should answer the question to the best of your ability.
The examination contains four-option multiple choice questions. These questions are designed to be as clear and concise as possible while testing knowledge and comprehension of insurance concepts as well as the application of the insurance concepts. The design of the exam ensures that those who possess the required knowledge of the specific insurance line of authority being tested should perform well on the examination for which they prepared.
Three different multiple-choice formats are used. Each format is shown in the following examples. An asterisk (*) indicates the correct answer in each sample question.
Which one of the following is a type of health insurance policy designed to replace the wages of an insured that is unable to work due to an accident or sickness? * 1. Disability Income Insurance Policy
2. Employer-Sponsored Group Major Medical Policy 3. Hospital Expense Insurance Policy 4. Special Risk Policy
Format 2-- Incomplete Sentence
Benefits under workers' compensation insurance are payable: 1. For bodily injury that is accidental or intentional
* 2. Regardless of the liability of the employer 3. Unless safety rules are violated 4. Up to a maximum of 30 percent of weekly wages
Format 3--All of the Following Except
A life insurance policy may include provisions that do all of the following EXCEPT: 1. Restrict coverage if death is caused by suicide 2. Require evidence of insurability to reinstate coverage
* 3. Extend the contestable period beyond two years 4. Adjust proceeds if the insured's age is misstated on the application
Experimental Questions
The examination may include some experimental questions that will not be scored. If present, they are distributed throughout the examination and will not be identified as such. These are used to gather statistical information on the questions before they are added to the examination as scored items. These experimental questions will not be counted for or against you in the final examination score.
You will be helping us help future test takers by completing 5 experimental test questions in your exam. We plan to use the experimental questions on future exams based on your performance.
The questions will:
· be randomly distributed within your test
· will not be counted in your final score
· time spent on the question will not be deducted from your test time.
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Exam Results
At the end of your exam, your score will be shown on the screen and you will receive a printed score report. The report indicates your overall score and grade, including the numerical percentage of questions answered correctly and whether you passed or failed.
The report also displays your correct percentage in each major section of the exam, as defined by the exam content outline. These section scores are shown to guide you about areas requiring additional preparation for retesting if you do not pass the exam. Even after you pass, you may want to focus on these areas as you begin to provide insurance products and services to the public.
Sample Score Report
Sample License Exam Sore Report
New Hampshire Producer's Life Examination
Number of Number
Questions Correct
Life Total Test Score
100
80
Insurance Regulation
12
10
General Insurance
8
7
Life Insurance Basics
17
14
Life Insurance Policies
10
8
Life Insurance Provisions
Options, and Riders
20
15
Annuities
18
15
Tax Considerations
10
7
Qualified Plans
5
4
Score: 80%
Grade: Pass
(A total score of 70 percent is required to pass)
Percent Correct 80% 83% 88% 82% 80%
75% 83% 70% 80%
Note that the section percentages will not average out to your total percentage score. That is because individual exam outline sections are allocated different numbers of questions on the exam. Your total percentage score is computed by dividing the number of questions you answered correctly by the total number of questions in the exam. The total score is not computed by adding the section percentages and dividing by the total number of sections.
Prometric electronically notifies the Department of exam results within two business days of the exam date. Exam scores are confidential and will be revealed only to you and the Department.
Duplicate score report. You may call or write to Prometric to request a duplicate of your score report for a period of one year after an exam at no fee.
Appeals Process
Prometric's goal is to provide a quality examination and a pleasant testing experience for every candidate. If you would like to submit an appeal concerning examination content, registration, scheduling or test administration (testing site procedures, equipment, personnel, etc.), please submit an appeal by visiting www.prometric.com/contactus and clicking on "Request an Appeal".
Once submitted you will receive an email response within 20 days indicating whether your appeal has been approved.
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Applying for Your License
Submitting an Application
This section offers information about:
· Applying for your license. · Licensing fees and renewal information. · Continuing education policies.
After passing the appropriate license exam (if an exam is required), you will need to submit a number of items to the Department depending on the type of license you are seeking. Additional information on the requirements for submitting an application can be found at: http://www.nh.gov/insurance/producers/index.htm
Current fees for all license types can be found at: http://www.nh.gov/insurance/producers/documents/licensefees.pdf
Note All applications are to be submitted electronically through the National
Insurance Producer Registry at: http://www.nipr.com
If you desire Variable authority, you must supply your CRD number issued by FINRA and hold a Life license.
Resident producer application procedures
To qualify as a New Hampshire resident insurance producer, you must submit your application online at http://www.nipr.com:
· Complete the NAIC Uniform Application. · Original passing exam results must be on file. · The appropriate licensing fee.
Resident adjuster applicants
To qualify as a New Hampshire resident insurance adjuster, you must submit your application online at http://www.nipr.com/:
· Complete the NAIC Uniform Application. · The appropriate licensing fees. · Original passing exam results must be on file.
Nonresident Producer and Adjuster application procedures
If you are not a New Hampshire resident but hold one or more insurance licenses in your home resident state, you may qualify for a New Hampshire nonresident license. If you wish to apply for a New Hampshire nonresident producers license, you must apply electronically through the National Insurance Producer Registry, an affiliate of the NAIC at www.nipr.com.
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Renewal Dates
Individual Producer and Adjuster licenses expiration dates are based on the birth month of the applicant. From the date of issue, the initial license expires the 2nd birth-month on the last day of that month. Business entity (agency) licenses expire the 2nd May 31st from date of issue. Ensuing expiration dates will be every two years thereafter.
Continuing Education
All resident producers licensed for Life, Accident and Health, Property and
Casualty, and Personal lines are required to satisfactorily complete 24 hours of
CE credits in each renewal cycle, which should include at least three (but not more
than 10) credits in ethics. All CE requirements must be completed 60 days prior to the expiration date of the license.
All resident claims adjusters and non-resident adjusters that have declared NH their DESIGNATED HOME STATE must meet the requirement of 24 total adjuster credits with a minimum of 3 credit hours of adjuster ethics credits every two years; The New Hampshire Legislature has also approved CE requirements for resident and nonresident public adjusters. All public adjusters must meet the requirement of 15 CE hours every two years which must include 3 hours of adjuster ethics. Nonresident public adjusters are exempt from the CE requirement if they can prove compliance with their resident state's substantially similar CE requirement; All resident workers compensation claims Adjusters and Non-resident workers compensation Adjusters that have declared NH their DESIGNATED HOME STATE must meet the requirement of 24 Total adjuster credits with a minimum of 10 hours of workers compensation courses and minimum 3 credit hours in adjuster ethics every two years.
As of January 1, 2011, nonresident claim adjusters are exempt from NH continuing education unless they have selected NH as their designated home state.
Note More information about the State of New Hampshire Continuing Education
(CE) program can be found online at http://www.nh.gov/insurance/producers/continuinged.htm.
17
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Exam Content Outlines
The following outlines give an overview of the content of each of the New Hampshire insurance examinations. Each examination will include questions on the subjects contained in the outline. The percentages indicate the relative weight assigned to each section of the examination.
For example, 10 percent means that 10 questions will be drawn on a 100-question exam and 15 will be drawn on a 150-question exam.
An outline that includes more descriptive subsections for your exam is available online at http://www.prometric.com/newhampshire/insurance.
Producer's Life Insurance
Series 12-61
100 questions - 2-hour time limit Live Date: February 17, 2018
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Defamation (417:4(IV)) Boycott, coercion and intimidation (417:4(V)) Illegal inducement (417:4(VII)) Unfair discrimination (417:4(VIII))
1.0 Insurance Regulation 12% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI)) Reporting of actions (402-J:17) Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a) Disciplinary actions Cease and desist order (417:12)
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Rebating (402:3941; 417:4(IX)) Examination of books and records (400-A:37) Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20) Consumer privacy regulation (Reg 3001 3006) 1.3 Federal regulation Fair Credit Reporting Act (15 USC 1681 1681d) Fraud and false statements (18 USC 1033, 1034) 2.0 General Insurance 8% 2.1 Concepts Risk management key terms Risk Exposure Hazard Peril Loss Methods of handling risk Avoidance Retention Sharing
18
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems 2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producers 2.4 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose
Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel
3.0 Life Insurance Basics 17% 3.1 Insurable interest (408:2, 2a) 3.2 Personal uses of life insurance Survivor protection Estate creation Cash accumulation Liquidity Estate conservation 3.3 Determining amount of personal life insurance Human life value approach Needs approach Types of information gathered Determining lump-sum needs
19
Planning for income needs
3.4 Business uses of life insurance
Buy-sell funding
Key person
Executive bonuses
3.5 Classes of life insurance policies
Group versus individual
Permanent versus term
Participating versus nonparticipating
Fixed versus variable life insurance and annuities
Regulation of variable products (SEC, FINRA and New Hampshire) (408:30)
3.6 Premiums
Factors in premium determination
Mortality
Interest
Expense
Premium concepts
Net single premium
Gross annual premium
Premium payment mode
Unearned premium (Ins 401.04 (a)(3))
3.7 Producer responsibilities
Solicitation and sales presentations (INS 301.01.07)
Advertising (INS 2601-2604)
Life and Health Insurance Guaranty Association (408-B:19(I))
Buyer's guide and policy summary (INS 301.05)
Guaranty association disclaimer (408-B:19(IIIV)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Illustrations (INS 309.01.12)
Life insurance policy cost comparison methods
Replacement (INS 302.01.09)
Use and disclosure of insurance information
Field underwriting
Notice of information practices
Application procedures including backdating of policies (INS 301.06(j))
Delivery
Policy review
Effective date of coverage
Premium collection
Statement of good health
Delivery Receipts (INS. 401.04 (f)(g)_
3.8 Individual underwriting by the insurer
Information sources and regulation
Application
Producer report
Attending physician statement
Investigative consumer (inspection) report
Medical Information Bureau (MIB)
Medical examinations and lab tests including HIV (417:4(XIX); Reg 1103.01, .02)
Selection criteria and unfair discrimination (408:11)
Classification of risks
Preferred
Standard
Substandard
3.9 Life Settlements (RSA 408D, Ins.312)
4.0 Life Insurance Policies 10% 4.1 Term life insurance Level term Annual renewable term Level premium term Decreasing term 4.2 Whole life insurance Continuous premium (straight life) Limited payment Single premium 4.3 Flexible premium policies Universal life 4.4 Specialized policies Joint life (first-to-die) Survivorship life (second-to-die) 4.5 Group life insurance Characteristics of group plans Group eligibility (408:15) Group underwriting requirements Standard provisions (408:16) Conversion to individual policy (408:16(VIIIX)) Coverage during labor dispute (408:16-b)
5.0 Life Insurance Policy Provisions, Options and Riders 20% 5.1 Standard provisions Ownership Assignment Entire contract (408:9; Reg 401.04(a)(3))
20
Modifications Right to examine (free look) (Reg 401.04(f)) Payment of premiums (Reg 401.04(a)(1)) Grace period (Reg 401.04(a)(2)) Reinstatement (Reg 401.04(d)) Incontestability (408:10; Reg 401.04(a)(6,7)) Misstatement of age or sex (Reg 401.04(a)(8)) Exclusions (Reg 401.04(m)) Interest on life insurance benefits (408:10-a) 5.2 Beneficiaries Designation options Individuals Classes Estates Minors Trusts Succession Revocable versus irrevocable Common disaster clause Spendthrift clause 5.3 Settlement options Interest only Fixed-period installments Fixed-amount installments Life income Single life Joint and survivor 5.4 Nonforfeiture options Cash surrender value
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Extended term Reduced paid-up insurance 5.5 Policy loan and withdrawal options Cash loans Automatic premium loans Withdrawals or partial surrenders 5.6 Dividend options Cash payment Reduction of premium payments Accumulation at interest Paid-up additions Paid-up insurance 5.7 Disability riders Waiver of premium Waiver of cost of insurance Disability income benefit Payor benefit life/disability (juvenile insurance) 5.8 Accelerated (living) benefit provision/rider Conditions for payment Effect on death benefit 5.9 Riders covering additional insureds Spouse/other-insured term rider Children's term rider Family term rider 5.10 Riders affecting the death benefit amount Accidental death Guaranteed insurability Cost of living Return of premium
6.0 Annuities 18% 6.1 Annuity principles and concepts Accumulation period versus annuity period Suitability in annuities transactions INS.305-05 Owner, annuitant and beneficiary Insurance aspects of annuities Spousal Continuation Federal Law DOMA New Hampshire Law Same Sex Marriage Withdrawal of Bulletin INS 10-004-AB 6.2 Immediate versus deferred annuities Single premium immediate annuities (SPIAs) Deferred annuities Premium payment options Nonforfeiture Surrender charges Death benefits 6.3 Annuity (benefit) payment options Life contingency options Pure life versus life with guaranteed minimum Single life versus multiple life Annuities certain (types) 6.4 Annuity products Fixed annuities General account assets
21
Interest rate guarantees (minimum versus current) Level benefit payment amount Indexed annuities Interest crediting methodologies Variable annuities Market value adjusted annuities Funding agreements (408-E) 6.5 Uses of annuities Lump-sum settlements Qualified retirement plans Group versus individual annuities Personal uses Individual retirement accounts (IRAs) Tax-deferred growth Retirement income Education funds 6.6 Annuity Suitability (Ins.305)
7.0 Federal Tax Considerations for Life Insurance and Annuities 13% 7.1 Taxation of personal life insurance Amounts available to policyowner Cash value increases Dividends Policy loans Surrenders Amounts received by beneficiary General rule and exceptions Settlement options Values included in insured's estate 7.2 Modified endowment contracts (MECs)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Modified endowment versus life insurance Seven-pay test
Distributions 7.3 Taxation of non-qualified annuities Individually-owned Accumulation phase (tax issues related to withdrawals) Annuity phase and the exclusion ratio Distributions at death Corporate-owned
7.4 Taxation of individual retirement accounts (IRAs) Traditional IRAs Contributions and deductible amounts Premature distributions including taxation issues Annuity phase benefit payments
Values included in the annuitant's estate Amounts received by beneficiary Roth IRAs Contributions and limits Distributions 7.5 Rollovers and transfers (IRAs and qualified plans) 7.6 Section 1035 exchanges
8.0 Qualified Plans 2%
8.1 General requirements 8.2 Federal tax considerations Tax advantages for employers and employees
Taxation of distributions (agerelated)
8.3 Plan types, characteristics and purchasers Simplified employee pensions (SEPs) Profit-sharing and 401(k) plans SIMPLE plans 403(b) tax-sheltered annuities (TSAs)
Producer's Accident and Health Insurance
Series 12-62 100 questions - 2-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 16% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI)) Reporting of actions (402-J:17) Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a)
22
Disciplinary actions
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3,13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.01 4301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Unfair discrimination (417:4(VIII)) Rebating (402:3941; 417:4(IX)) Examination of books and records (400-A:37) Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20) Consumer privacy regulation (Reg 30013006) 1.3 Federal regulation Fair Credit Reporting Act (15 USC 16811681d) Fraud and false statements (18 USC 1033, 1034)
2.0 General Insurance 13% 2.1 Concepts Risk management key terms Risk Exposure Hazard Peril Loss Methods of handling risk Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies
Mutual companies Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems 2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producers 2.4 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion
23
Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel 3.0 Health Insurance Basics 12% 3.1 Definitions of perils Accidental injury Sickness 3.2 Principal types of losses and benefits Loss of income from disability Medical expense Dental expense Long-term care expense 3.3 Classes of health insurance policies Individual versus group Private versus government Limited versus comprehensive 3.4 Limited policies Limited perils and amounts Required notice to insured Types of limited policies Accident-only Specified (dread) disease Hospital indemnity (income) Credit disability
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Blanket insurance (teams, passengers, other)
3.5 Common exclusions from coverage (415-A:5)
3.6 Producer responsibilities in individual health insurance
Marketing requirements
Advertising (INS 26012604)
Life and Health Insurance Guaranty Association (408-B:19(I))
Sales presentations
Outline of coverage (415-A:4; Reg 1901.06)
Guaranty association disclaimer (408-B:19(IIIV))
Field underwriting
Nature and purpose
Disclosure of information about individuals
Application procedures
Requirements at delivery of policy
Common situations for errors/omissions
3.7 Individual underwriting by the insurer
Underwriting criteria
Sources of underwriting information
Application
Producer report
Attending physician statement
Investigative consumer (inspection) report
Medical Information Bureau (MIB)
Medical examinations and lab tests including HIV (417:4(XIX); Reg 1103.01, .02)
Unfair discrimination (415:15)
Classification of risks
Preferred Standard Substandard 3.8 Considerations in replacing health insurance (Reg 1901.07) Benefits, limitations and exclusions Underwriting requirements Producer liability for errors and omissions 3.9 New Hampshire mandated provisions
4.0 Individual Health Insurance Policy General Provisions 9%
4.1 Required provisions Entire contract; changes (415:6(I)(1)) Time limit on certain defenses (415:6(I)(2)) Grace period (415:6(I)(3)) Reinstatement (415:6(I)(4))
Claim procedures (415:6(I)(59)) Physical examinations and autopsy (415:6(I)(10)) Legal actions (415:6(I)(11)) Change of beneficiary (415:6(I)(12)) Loss of time benefits (415:6(I)(13))
Refund upon cancellation (415:6(I)(14)) 4.2 Other provisions
Change of occupation (415:6(II)(1)) Misstatement of age (415:6(II)(2))
Other insurance in this insurer (415:6(II)(3)) Insurance with other insurers Expense-incurred basis (415:6(II)(4))
24
Other than expense-incurred basis (415:6(II)(5)) Unpaid premium (415:6(II)(7)) Cancellation; refusal to renew (415:6(II)(8))
Conformity with state statutes (415:6(II)(9)) 4.3 Other general provisions Right to examine (free look) (Reg 401.04(f), 1901.06(a)(11)) Travel (RSA 402-L) Insuring clause Consideration clause Renewability clause (Reg 1901.05) Noncancelable Guaranteed renewable Conditionally renewable Renewable at option of insurer Nonrenewable (cancelable, term) Military suspense provision (Reg 1901.05(a)(7))
5.0 Disability Income and Related Insurance 9% 5.1 Qualifying for disability benefits Inability to perform duties Own occupation Any occupation Presumptive disability Requirement to be under physician care 5.2 Individual disability income insurance Basic total disability plan Income benefits (monthly indemnity) Elimination and benefit periods
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Waiver of premium feature Coordination with social insurance and workers compensation benefits Additional monthly benefit (AMB) Social insurance supplement (SIS) Occupational versus nonoccupational coverage At-work benefits Partial disability benefit Residual disability benefit Other provisions affecting income benefits Cost of living adjustment (COLA) rider Future increase option (FIO) rider Relation of earnings to insurance (415:6(II)(6)) Other cash benefits Accidental death and dismemberment Rehabilitation benefit Medical reimbursement benefit (nondisabling injury) Refund provisions Return of premium Cash surrender value Exclusions 5.3 Unique aspects of individual disability underwriting Occupational considerations Benefit limits Policy issuance alternatives 5.4 Group disability income insurance Short-term disability (STD) Long-term disability (LTD) 5.5 Business disability insurance
Key person disability income Disability buy-sell policy 5.6 Social Security disability Qualification for disability benefits Definition of disability Waiting period Disability income benefits 5.7 Workers compensation Eligibility Benefits
6.0 Medical Plans 10% 6.1 Medical plan concepts Fee-for-service basis versus prepaid basis Benefit schedule versus usual/reasonable/customary charges Any provider versus limited choice of providers Insureds versus subscribers/participants 6.2 Types of providers and plans Major medical insurance (indemnity plans) Characteristics Common limitations Exclusions from coverage Provisions affecting cost to insured Health maintenance organizations (HMOs) General characteristics Preventive care services Primary care versus referral (specialty) physician Emergency care Urgent care
25
Hospital services Other basic services
Preferred provider organizations (PPOs) General characteristics Open panel or closed panel
Types of parties to the provider contract Point-of-service (POS) plans Nature and purpose
Out-of-network provider access (open-ended HMO) PCP referral (gatekeeper PPO) Indemnity plan features 6.3 Cost containment in health care delivery Cost-saving services Preventive care Hospital outpatient benefits Alternatives to hospital services Utilization management Prospective review Concurrent review
6.4 New Hampshire requirements (individual and group) Eligibility requirements Newborn children (415:22) Adopted children (415:22-a)
Child enrollment; noncustodial parents (RL 161-H:2) Benefit offers Maternity coverage (415:6-d) 6.5 HIPAA (Health Insurance Portability and Accountability Act) requirements
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Eligibility Guaranteed issue Pre-existing conditions Creditable coverage Renewability 6.6 Patient Protection and Affordable Care Act Preexisting conditions Premium Assistance Program Metal Levels Shop versus Individual Essential Benefits Cost Sharing No Limits QHP Certification Insurance exchanges Annual and lifetime dollar limits
7.0 Group Health Insurance 10% 7.1 Characteristics of group insurance Group contract Certificate of coverage Experience rating versus community rating 7.2 Types of eligible groups Individual employer groups (Bulletin INS 08-068-AB) 7.3 Marketing considerations Advertising Regulatory jurisdiction/place of delivery 7.4 Employer group health insurance
Insurer underwriting criteria
Characteristics of group
Plan design factors
Administrative capability
Eligibility for coverage
Employee eligibility
Part-time employees (415:18(I)(q))
Dependent eligibility
Coordination of benefits provision (Reg 1904.05.07)
Change of insurance companies or loss of coverage
No-loss no-gain
Events that terminate coverage
Extension of benefits
Cancellation or nonrenewal (415:18b)
Continuation of coverage under COBRA and New Hampshire specific rules (415:18(VII)(g))
Conversion privilege (415:18(VII)(a b); Reg 1901.06(a)(11))
7.5 Small employer group medical plans
Definition of small employer (420G:2(XVI))
Renewability of coverage (420-G:6)
Participation requirements (420-G:9)
Open enrollment and late enrollment (420-G:8)
Prohibited underwriting practices (420-G:4(I)(b), 5)
7.6 Regulation of employer group insurance
Age Discrimination in Employment Act (ADEA)
Applicability to employers and workers
26
Permitted reductions in insured benefits Permitted increases in employee contributions Requirements for medical expense coverage Relationship with Medicare Medicare secondary coverage rules Medicare carve-outs and supplements
8.0 Dental Insurance 2% 8.1 Types of dental treatment Diagnostic and preventive Restorative Oral surgery Endodontics Periodontics Prosthodontics Orthodontics 8.2 Indemnity plans Benefit categories Diagnostic/preventive services Basic services Major services Deductibles and coinsurance Combination plans Exclusions Limitations Predetermination of benefits 8.3 Employer group dental expense Integrated deductibles versus standalone plans ACA Considerations (Stand Alone Dental Plans)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Minimizing adverse selection
9.0 Insurance for Senior Citizens and Special Needs Individuals 13%
9.1 Medicare Nature, financing and administration Part A -- Hospital Insurance Individual eligibility requirements Enrollment Coverages and cost-sharing amounts Part B -- Medical Insurance Individual eligibility requirements Enrollment Coverages and cost-sharing amounts Exclusions Claims terminology and other key terms Part C -- Medicare Advantage Part D -- Prescription Drug Insurance 9.2 Medicare supplements Purpose (Reg 1905.01) Open enrollment (Reg 1905.10) Standardized Medicare supplement plans (Reg 1905.08) Core benefits Additional benefits New Hampshire regulations and required provisions Standards for marketing (Reg 1905.19) Advertising (Reg 1905.06, .18) Appropriateness of recommended purchase and excessive insurance (Reg 1905.20) Guaranteed issue for eligible persons (Reg 1905.11)
Buyer's guide (Reg 1905.16(a)(6)) Outline of coverage (Reg 1905.16(d)) Right to return (free look) (Reg 1905.16(a)(5)) Replacement (Reg 1905.17, .22) Required disclosure provisions (Reg 1905.16) Permitted compensation (Reg 1905.15) Notice of change (Reg 1905.16(b)) Benefit standards (Reg 1905.07) Prohibited practices (Reg 1905.22) Medicare Select (Reg 1905.09) 9.3 Other options for individuals with Medicare Employer group health plans Employees with disabilities and their covered spouses Employees with kidney failure Individuals age 65 and older Medicaid Eligibility Benefits 9.4 Long-term care (LTC) insurance Eligibility for benefits Levels of care Skilled care Intermediate care Custodial care Home health care Adult day care Respite care Benefit periods
27
Benefit amounts Optional benefits Inflation protection Guarantee of insurability Return of premium Qualified LTC plans Partnership plans (Ins 3602) Exclusions Underwriting considerations New Hampshire regulations and required provisions Outline of coverage (415-D:8) Right to return (free look) (415-D:7) Benefit standards (415-D:3(V), 5) Continuation of coverage/conversion (415-D:6)
10.0 Federal Tax Considerations for Health Insurance 6% 10.1 Personally-owned health insurance Disability income insurance Medical expense insurance Long-term care insurance Settlement options 10.2 Employer group health insurance Disability income (STD, LTD) Benefits subject to FICA Medical and dental expense Long-term care insurance Accidental death and dismemberment 10.3 Medical expense coverage for sole proprietors and partners
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
10.4 Business disability insurance Key person disability income Buy-sell policy 10.5 ACA Tax implications and penalties
Producer's Life, Accident and Health Insurance Series 12-63
150 questions 2.5-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 7% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI)) Reporting of actions (402-J:17) Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a) Disciplinary actions
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, .15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
28
Rebating (402:3941; 417:4(IX)) Examination of books and records (400-A:37) Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20) Consumer privacy regulation (Reg 3001 3006) 1.3 Federal regulation Fair Credit Reporting Act (15 USC 1681 1681d) Fraud and false statements (18 USC 1033, 1034)
2.0 General Insurance 6% 2.1 Concepts Risk management key terms Risk Exposure Hazard Peril Loss Methods of handling risk Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems 2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producers 2.4 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations
Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel
3.0 Life Insurance Basics 10% 3.1 Insurable interest (408:2, 2a) 3.2 Personal uses of life insurance Survivor protection Estate creation Cash accumulation Liquidity Estate conservation 3.3 Determining amount of personal life insurance Human life value approach Needs approach Types of information gathered Determining lump-sum needs Planning for income needs 3.4 Business uses of life insurance Buy-sell funding Key person Executive bonuses 3.5 Classes of life insurance policies Group versus individual Permanent versus term Participating versus nonparticipating
29
Fixed versus variable life insurance and annuities
Regulation of variable products (SEC, FINRA and New Hampshire) (408:30)
3.6 Premiums
Factors in premium determination
Mortality
Interest
Expense
Premium concepts
Net single premium
Gross annual premium
Premium payment mode
Unearned premium (Ins 401.04 (a)(3))
3.7 Producer responsibilities
Solicitation and sales presentations (INS 301.01.07)
Advertising (INS 2601-2604)
Life and Health Insurance Guaranty Association (408-B:19(I))
Buyer's guide and policy summary (INS 301.05)
Guaranty association disclaimer (408-B:19(IIIV)
Illustrations (INS 309.01.12)
Life insurance policy cost comparison methods
Replacement (INS 302.01.09)
Use and disclosure of insurance information
Field underwriting
Notice of information practices
Application procedures including backdating of policies (INS 301.06(j))
Delivery
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Policy review Effective date of coverage Premium collection Statement of good health Delivery Receipts (Ins. 401.04 (f)(g)) 3.8 Individual underwriting by the insurer Information sources and regulation Application Producer report Attending physician statement Investigative consumer (inspection) report Medical Information Bureau (MIB) Medical examinations and lab tests including HIV (417:4(XIX); Reg 1103.01, .02) Selection criteria and unfair discrimination (408:11) Classification of risks Preferred Standard Substandard 3.9 Life Settlements
4.0 Life Insurance Policies 6% 4.1 Term life insurance Level term Annual renewable term Level premium term Decreasing term 4.2 Whole life insurance Continuous premium (straight life) Limited payment
Single premium 4.3 Flexible premium policies Universal life 4.4 Specialized policies Joint life (first-to-die) Survivorship life (second-to-die) 4.5 Group life insurance Characteristics of group plans Group eligibility (408:15) Group underwriting requirements
Standard provisions (408:16) Conversion to individual policy (408:16(VIIIX)) Coverage during labor dispute (408:16-b)
5.0 Life Insurance Policy Provisions, Options and Riders 11%
5.1 Standard provisions Ownership Assignment Entire contract (408:9; Reg 401.04(a)(3)) Modifications Right to examine (free look) (Reg 401.04(f)) Payment of premiums (Reg 401.04(a)(1)) Grace period (Reg 401.04(a)(2)) Reinstatement (Reg 401.04(d)) Incontestability (408:10; Reg 401.04(a)(6,7)) Misstatement of age or sex (Reg 401.04(a)(8)) Exclusions (Reg 401.04(m))
30
Interest on life insurance benefits (408:10-a) 5.2 Beneficiaries Designation options Individuals Classes Estates Minors Trusts Succession Revocable versus irrevocable Common disaster clause Spendthrift clause 5.3 Settlement options Interest only Fixed-period installments Fixed-amount installments Life income Single life Joint and survivor 5.4 Nonforfeiture options Cash surrender value Extended term Reduced paid-up insurance 5.5 Policy loan and withdrawal options Cash loans Automatic premium loans Withdrawals or partial surrenders 5.6 Dividend options Cash payment Reduction of premium payments Accumulation at interest
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Paid-up additions Paid-up insurance 5.7 Disability riders Waiver of premium Waiver of cost of insurance Disability income benefit Payor benefit life/disability (juvenile insurance) 5.8 Accelerated (living) benefit provision/rider Conditions for payment Effect on death benefit 5.9 Riders covering additional insureds Spouse/other-insured term rider Children's term rider Family term rider 5.10 Riders affecting the death benefit amount Accidental death Guaranteed insurability Cost of living Return of premium
6.0 Annuities 10%
6.1 Annuity principles and concepts Accumulation period versus annuity period Owner, annuitant and beneficiary Insurance aspects of annuities 6.2 Immediate versus deferred annuities Single premium immediate annuities (SPIAs) Deferred annuities
Premium payment options Nonforfeiture Surrender charges Death benefits Spousal continuation Federal Law DOMA New Hampshire Law Same sex marriage Withdrawl of Bulletin INS10-004AB 6.3 Annuity (benefit) payment options Life contingency options Pure life versus life with guaranteed minimum Single life versus multiple life Annuities certain (types) 6.4 Annuity products Fixed annuities General account assets Interest rate guarantees (minimum versus current) Level benefit payment amount Indexed annuities Variable annuities Market value adjusted annuities Finding agreements (408-E) 6.5 Uses of annuities Lump-sum settlements Qualified retirement plans Group versus individual annuities Personal uses Individual retirement accounts (IRAs)
31
Tax-deferred growth Retirement income Education funds 6.6 Annuity Suitability (Ins. 305)
7.0 Federal Tax Considerations for Life Insurance and Annuities 7% 7.1 Taxation of personal life insurance Amounts available to policyowner Cash value increases Dividends Policy loans Surrenders Amounts received by beneficiary General rule and exceptions Settlement options Values included in insured's estate
7.2 Modified endowment contracts (MECs) Modified endowment versus life insurance Seven-pay test Distributions 7.3 Taxation of non-qualified annuities Individually-owned
Accumulation phase (tax issues related to withdrawals) Annuity phase and the exclusion ratio Distributions at death Corporate-owned 7.4 Taxation of individual retirement accounts (IRAs) Traditional IRAs
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Contributions and deductible amounts Premature distributions including taxation issues Annuity phase benefit payments Values included in the annuitant's estate Amounts received by beneficiary Roth IRAs Contributions and limits Distributions 7.5 Rollovers and transfers (IRAs and qualified plans) 7.6 Section 1035 exchanges
8.0 Qualified Plans 2% 8.1 General requirements 8.2 Federal tax considerations Tax advantages for employers and employees Taxation of distributions (agerelated) 8.3 Plan types, characteristics and purchasers Simplified employee pensions (SEPs) Profit-sharing and 401(k) plans SIMPLE plans 403(b) tax-sheltered annuities (TSAs)
9.0 Health Insurance Basics 7%
9.1 Definitions of perils Accidental injury Sickness 9.2 Principal types of losses and benefits Loss of income from disability Medical expense
Dental expense Long-term care expense 9.3 Classes of health insurance policies Individual versus group Private versus government Limited versus comprehensive 9.4 Limited policies Limited perils and amounts Required notice to insured Types of limited policies Accident-only Specified (dread) disease Hospital indemnity (income) Credit disability Blanket insurance (teams, passengers, other) 9.5 Common exclusions from coverage (415-A:5) 9.6 Producer responsibilities in individual health insurance Marketing requirements Advertising (Reg 26012604) Life and Health Insurance Guaranty Association (408-B:19(I)) Sales presentations Outline of coverage (415-A:4; Reg 1901.06) Guaranty association disclaimer (408-B:19(IIIV)) Field underwriting Nature and purpose Disclosure of information about individuals Application procedures Requirements at delivery of policy
32
Common situations for errors/omissions
9.7 Individual underwriting by the insurer
Underwriting criteria
Sources of underwriting information
Application
Producer report
Attending physician statement
Investigative consumer (inspection) report
Medical Information Bureau (MIB)
Medical examinations and lab tests including HIV (417:4(XIX); Reg 1103.01, .02)
Unfair discrimination (415:15)
Classification of risks
Preferred
Standard
Substandard
9.8 Considerations in replacing health insurance (Reg 1901.07)
Benefits, limitations and exclusions
Underwriting requirements
Producer liability for errors and omissions
9.9 New Hampshire mandated provisions
10.0 Individual Health Insurance Policy General Provisions 5%
10.1 Required provisions
Entire contract; changes (415:6(I)(1))
Time limit on certain defenses (415:6(I)(2))
Grace period (415:6(I)(3))
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Reinstatement (415:6(I)(4)) Claim procedures (415:6(I)(59)) Physical examinations and autopsy (415:6(I)(10)) Legal actions (415:6(I)(11)) Change of beneficiary (415:6(I)(12)) Loss of time benefits (415:6(I)(13)) Refund upon cancellation (415:6(I)(14)) 10.2 Other provisions Change of occupation (415:6(II)(1)) Misstatement of age (415:6(II)(2)) Other insurance in this insurer (415:6(II)(3)) Insurance with other insurers Expense-incurred basis (415:6(II)(4)) Other than expense-incurred basis (415:6(II)(5)) Unpaid premium (415:6(II)(7)) Cancellation; refusal to renew (415:6(II)(8)) Conformity with state statutes (415:6(II)(9)) 10.3 Other general provisions Right to examine (free look) (Reg 401.04(f); 1901.06(a)(11)) Travel (RSA 402-L) Insuring clause Consideration clause Renewability clause (Reg 1901.05) Noncancelable Guaranteed renewable Conditionally renewable Renewable at option of insurer Nonrenewable (cancelable, term)
Military suspense provision (Reg 1901.05)
11.0 Disability Income and Related Insurance 5%
11.1 Qualifying for disability benefits Inability to perform duties Own occupation Any occupation Presumptive disability Requirement to be under physician care 11.2 Individual disability income insurance Basic total disability plan Income benefits (monthly indemnity) Elimination and benefit periods Waiver of premium feature Coordination with social insurance and workers compensation benefits Additional monthly benefit (AMB) Social insurance supplement (SIS) Occupational versus nonoccupational coverage At-work benefits Partial disability benefit Residual disability benefit Other provisions affecting income benefits Cost of living adjustment (COLA) rider Future increase option (FIO) rider Relation of earnings to insurance (415:6(II)(6)) Other cash benefits Accidental death and dismemberment
33
Rehabilitation benefit Medical reimbursement benefit (nondisabling injury) Refund provisions Return of premium Cash surrender value Exclusions 11.3 Unique aspects of individual disability underwriting Occupational considerations Benefit limits Policy issuance alternatives 11.4 Group disability income insurance Short-term disability (STD) Long-term disability (LTD) 11.5 Business disability insurance Key person disability income Disability buy-sell policy 11.6 Social Security disability Qualification for disability benefits Definition of disability Waiting period Disability income benefits 11.7 Workers compensation Eligibility Benefits
12.0 Medical Plans 6% 12.1 Medical plan concepts Fee-for-service basis versus prepaid basis Benefit schedule versus usual/reasonable/customary charges
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Any provider versus limited choice of providers
Insureds versus subscribers/participants
12.2 Types of providers and plans
Major medical insurance (indemnity plans)
Characteristics
Common limitations
Exclusions from coverage
Provisions affecting cost to insured
Health maintenance organizations (HMOs)
General characteristics
Preventive care services
Primary care versus referral (specialty) physician
Emergency care
Urgent Care
Hospital services
Other basic services
Preferred provider organizations (PPOs)
General characteristics
Open panel or closed panel
Types of parties to the provider contract
Point-of-service (POS) plans
Nature and purpose
Out-of-network provider access (open-ended HMO)
PCP referral (gatekeeper PPO)
Indemnity plan features
12.3 Cost containment in health care delivery
Cost-saving services
Preventive care Hospital outpatient benefits Alternatives to hospital services Utilization management Prospective review Concurrent review 12.4 New Hampshire requirements (individual and group) Eligibility requirements Newborn children (415:22) Adopted children (415:22-a) Child enrollment; noncustodial parents (RL 161-H:2) Benefit offers Maternity coverage (415:6-d) 12.5 HIPAA (Health Insurance Portability and Accountability Act) requirements Eligibility Guaranteed issue Pre-existing conditions Creditable coverage Renewability 12.6 Patient Protection and Affordable Care Act Preexisting conditions Premium Assistance Program Metal Levels Shop versus Individual Essential Benefits Cost Sharing No Limits QHP Certification
34
Insurance exchanges Annual and lifetime dollar limits
13.0 Group Health Insurance 6% 13.1 Characteristics of group insurance Group contract Certificate of coverage Experience rating versus community rating 13.2 Types of eligible groups Individual employer groups (Bulletin Ins. 08-068-AB) 13.3 Marketing considerations Advertising
Regulatory jurisdiction/place of delivery 13.4 Employer group health insurance Insurer underwriting criteria Characteristics of group Plan design factors Administrative capability Eligibility for coverage Employee eligibility Part-time employees (415:18(I)(q)) Dependent eligibility Coordination of benefits provision (Reg 1904.05.07) Change of insurance companies or loss of coverage No-loss no-gain Events that terminate coverage Extension of benefits
Cancellation or nonrenewal (415:18b)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Continuation of coverage under COBRA and New Hampshire specific rules (415:18(VII))
Conversion privilege (415:18(VII)(a b))
13.5 Small employer group medical plans
Definition of small employer (420G:2(XVI))
Renewability of coverage (420-G:6)
Participation requirements (420-G:9)
Open enrollment and late enrollment (420-G:8)
Prohibited underwriting practices (420-G:4(I)(b), 5)
13.6 Regulation of employer group insurance
Age Discrimination in Employment Act (ADEA)
Applicability to employers and workers
Permitted reductions in insured benefits
Permitted increases in employee contributions
Requirements for medical expense coverage
Relationship with Medicare
Medicare secondary coverage rules
Medicare carve-outs and supplements
14.0 Dental Insurance 1%
14.1 Types of dental treatment
Diagnostic and preventive
Restorative
Oral surgery
Endodontics
Periodontics
Prosthodontics
Orthodontics 14.2 Indemnity plans Benefit categories Diagnostic/preventive services Basic services Major services Deductibles and coinsurance Combination plans Exclusions Limitations Predetermination of benefits 14.3 Employer group dental expense Integrated deductibles versus standalone plans Minimizing adverse selection 15.0 Insurance for Senior Citizens and Special Needs Individuals 7% 15.1 Medicare Nature, financing and administration Part A -- Hospital Insurance Individual eligibility requirements Enrollment Coverages and cost-sharing amounts Part B -- Medical Insurance Individual eligibility requirements Enrollment Coverages and cost-sharing amounts Exclusions Claims terminology and other key terms Part C -- Medicare Advantage Part D -- Prescription Drug Insurance
35
15.2 Medicare supplements
Purpose (Reg 1905.01)
Open enrollment (Reg 1905.10)
Standardized Medicare supplement plans (Reg 1905.08)
Core benefits
Additional benefits
New Hampshire regulations and required provisions
Standards for marketing (Reg 1905.19)
Advertising (Reg 1905.06, 1905.18)
Appropriateness of recommended purchase and excessive insurance (Reg 1905.20)
Guaranteed issue for eligible persons (Reg 1905.11)
Buyer's guide (Reg 1905.16(a)(6))
Outline of coverage (Reg 1905.16(d))
Right to return (free look) (Reg 1905.16(a)(5))
Replacement (Reg 1905.17, .22)
Required disclosure provisions (Reg 1905.16)
Permitted compensation (Reg 1905.15)
Notice of change (Reg 1905.16(b))
Benefit standards (Reg 1905.07)
Prohibited practices (Reg 1905.22)
Medicare Select (Reg 1905.09)
15.3 Other options for individuals with Medicare
Employer group health plans
Employees with disabilities and their covered spouses
Employees with kidney failure
Individuals age 65 and older
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Medicaid Eligibility Benefits 15.4 Long-term care (LTC) insurance Eligibility for benefits Levels of care Skilled care Intermediate care Custodial care Home health care Adult day care Respite care Benefit periods Benefit amounts Optional benefits Inflation protection Guarantee of insurability Return of premium Qualified LTC plans Partnership plans (Ins 3602) Exclusions Underwriting considerations New Hampshire regulations and required provisions Outline of coverage (415-D:8) Right to return (free look) (415-D:7) Benefit standards (415-D:3(V), 5) Continuation of coverage/conversion (415-D:6)
16.0 Federal Tax Considerations for Health Insurance 4%
16.1 Personally-owned health insurance Disability income insurance Medical expense insurance Long-term care insurance Settlement options 16.2 Employer group health insurance Disability income (STD, LTD) Benefits subject to FICA Medical and dental expense Long-term care insurance Accidental death and dismemberment 16.3 Medical expense coverage for sole proprietors and partners 16.4 Business disability insurance Key person disability income Buy-sell policy 16.5 ACA Tax Implications
Producer's Property and Casualty Insurance Series 12-64
150 questions 2.5-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 13% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14)
36
Producer with appointment (402J:14)
Business entity (402-J:6)
Financial institutions (406-C:119)
Resident versus nonresident (402J:8, 16)
Temporary (402-J:11)
Maintenance and duration
Renewal (402-J:7(IIIV))
Change of address (402-J:7(VI))
Reporting of actions (402-J:17)
Assumed names (402-J:10)
Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a)
Disciplinary actions
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 30013006)
1.3 Federal regulation
Fair Credit Reporting Act (15 USC 16811681d)
Fraud and false statements (18 USC 1033, 1034)
2.0 General Insurance 11%
2.1 Concepts
Risk management key terms
Risk
Exposure
Hazard
Peril
Loss Methods of handling risk Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems 2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producers 2.4 Contracts
37
Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel 3.0 Property and Casualty Insurance Basics 14% 3.1 Principles and concepts Insurable interest Underwriting Function Loss ratio Rates Types Loss costs
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Components Hazards Physical Moral Morale Negligence Elements of a negligent act Defenses against negligence Damages Compensatory -- special versus general Punitive Absolute liability Strict liability Vicarious liability Causes of loss (perils) Named perils versus special (open) perils Direct loss Consequential or indirect loss Blanket versus specific insurance Basic types of construction Loss valuation Actual cash value Replacement cost Functional replacement cost Market value Agreed value Stated amount 3.2 Policy structure Declarations Definitions Insuring agreement or clause
Additional/supplementary coverage Conditions Exclusions Endorsements 3.3 Common policy provisions Insureds -- named, first named, additional Policy period Policy territory Cancellation and nonrenewal Deductibles Other insurance Nonconcurrency Primary and excess Pro rata Contribution by equal shares Property limits Limits of liability Per occurrence (accident) Per person Aggregate -- general versus products -- completed operations Split Combined single Restoration/nonreduction of limits Coinsurance Vacancy or unoccupancy Named insured provisions Duties after loss Assignment Abandonment Insurer provisions Liberalization
38
Subrogation
Salvage
Claim settlement options
Duty to defend
Third-party provisions
Standard mortgage clause
Loss payable clause
No benefit to the bailee
3.4 New Hampshire laws, regulations and required provisions
New Hampshire Valued Policy Law (407:11)
New Hampshire Insurance Guaranty Association (404-B)
Standard fire policy (407:12-a, 22)
Cancellation and nonrenewal (417-B; 417-C:14, 6)
Binders (407:6)
Concealment, misrepresentation or fraud (407:22; RL 638:20)
Claim settlement time limits (407:12, 12-a; Reg 1002.05)
Federal Terrorism Insurance Program (15 USC 6701; Public Law 107297, 109144, 110160)
Certificate of Insurance House Bill 419 eff 1/1/2012
4.0 Dwelling ('02) Policy 4%
4.1 Characteristics and purpose
4.2 Coverage forms -- Perils insured against
Basic
Broad
Special
4.3 Property coverages
Coverage A -- Dwelling
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Fair rental value Coverage E -- Additional living expense Other coverages 4.4 General exclusions 4.5 Conditions 4.6 Selected endorsements Special provisions -- New Hampshire (DP 01 28) Automatic increase in insurance (DP 04 11) Dwelling under construction (DP 11 43) 4.7 Personal liability supplement
5.0 Homeowners ('11) Policy 12%
5.1 Coverage forms HO-2 through HO-6 5.2 Definitions 5.3 Section I -- Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Loss of use Additional coverages 5.4 Section II -- Liability coverages Coverage E -- Personal liability Coverage F -- Medical payments to others Additional coverages 5.5 Perils insured against
5.6 Exclusions 5.7 Conditions 5.8 Selected endorsements Special provisions -- New Hampshire (HO 01 28) Limited fungi, wet or dry rot, or bacteria coverage (HO 04 26, HO 04 27) Permitted incidental occupancies (HO 04 42) Earthquake (HO 04 54) Scheduled personal property (HO 04 61) Personal property replacement cost (HO 04 90) Home day care (HO 04 97) Business pursuits (HO 24 71) Watercraft (HO 24 75) Personal injury (HO 24 82) Identity Theft
6.0 Auto Insurance 14%
6.1 Laws New Hampshire Motor Vehicle Financial Responsibility Law Required limits of liability (RL 259:61, 264:20) New Hampshire Automobile Reinsurance Facility Plan (Reg 1405)
New Hampshire Commercial Auto Insurance Plan Uninsured/underinsured motorist (RL 264:15) Definitions Bodily injury Required limits Cancellation/nonrenewal (417-A) Grounds
39
Notice
Notice of eligibility in Automobile Reinsurance Facility Plan (417A:5(V))
Residency statement (417-A:3-b; RL 1406.01)
Medical costs coverage (RL 264:16)
After market parts regulation (407D)
6.2 Personal ('05) auto policy
Definitions
Liability coverage
Bodily injury and property damage
Supplementary payments
Exclusions Medical payments
Uninsured motorist / underinsured motorist coverage
Coverage for damage to your auto
Collision
Other than collision
Deductibles
Transportation expense
Exclusions
Duties after an accident or loss
General provisions
Selected endorsements
Amendment of policy provisions -- New Hampshire (PP 01 76)
Towing and labor costs (PP 03 03)
Extended non-owned coverage -- vehicles furnished or available for regular use (PP 03 06)
Miscellaneous type vehicle -- New Hampshire (PP 13 32)
Joint ownership coverage -- New Hampshire (PP 13 34)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
6.3 Commercial auto ('10) Commercial auto coverage forms Business auto Garage Business auto physical damage Coverage form sections Covered autos Liability coverage Garagekeepers coverage Physical damage coverage Exclusions Conditions Definitions Selected endorsements Lessor -- additional insured and loss payee (CA 20 01) Mobile equipment (CA 20 15) Auto medical payments coverage (CA 99 03) Drive other car coverage (CA 99 10) Hired autos specified as covered autos you own (CA 99 16) Individual named insured (CA 99 17) Pollution liability -- broadened coverage (CA 99 48; CA 99 55)
7.0 Commercial Package Policy (CPP) 10% 7.1 Components of a commercial policy Common policy declarations Common policy conditions Interline endorsements One or more coverage parts 7.2 Commercial general liability ('07)
Commercial general liability coverage forms Bodily injury and property damage liability Personal and advertising injury liability Medical payments Supplementary payments Who is an insured Limits of liability Conditions Definitions Exclusions Occurrence versus claims-made Claims-made features Trigger Retroactive date Extended reporting periods -- basic versus supplemental Claim information Premises and operations Products and completed operations Insured contract Pollution liability Pollution liability coverage form (CG 00 39) Pollution liability limited coverage form (CG 00 40) Pollution liability coverage extension endorsement (CG 04 22) 7.3 Commercial property ('07) Commercial property conditions form Coverage forms Building and personal property Condominium association
40
Condominium commercial unitowners Builders risk Business income Legal liability Extra expense Causes of loss forms Basic Broad Special Selected endorsements coverage Ordinance or law (CP 04 05) Spoilage coverage (CP 04 40) Peak season limit of insurance (CP 12 30) Value reporting form (CP 13 10) 7.4 Commercial crime ('06) General definitions Burglary Theft Robbery Crime coverage forms Commercial crime coverage forms (discovery/loss sustained) Government crime coverage forms (discovery/loss sustained) Coverages Employee theft Forgery or alteration Inside the premises -- theft of money and securities Inside the premises -- robbery or safe burglary of other property Outside the premises Computer fraud
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Funds transfer fraud Money orders and counterfeit money Other crime coverage Extortion -- commercial entities (CR 04 03) 7.5 Commercial inland marine Nationwide marine definition Commercial inland marine conditions form Inland marine coverage forms Accounts receivable Bailee's customer Commercial articles Contractors equipment floater Electronic data processing Equipment dealers Installation floater Jewelers block Signs Valuable papers and records Transportation coverages Common carrier cargo liability Motor truck cargo forms Transit coverage forms 7.6 Equipment breakdown ('11) Equipment breakdown protection coverage form (EB 00 20) Selected endorsement Actual cash value (EB 99 59) 7.7 Farm coverage ('03 Property) ('06 Liability) Farm property coverage form Coverage A -- Dwellings
Coverage B -- Other private structures
Coverage C -- Household personal property
Coverage D -- Loss of use
Coverage E -- Scheduled farm personal property
Coverage F -- Unscheduled farm personal property
Coverage G -- Other farm structures
Farm liability coverage form ('06)
Coverage H -- Bodily injury and property damage liability
Coverage I -- Personal advertising injury liability
Coverage J -- Medical payments Livestock coverage form
Mobile agriculture machinery and equipment coverage form
Causes of loss (basic, broad and special)
Exclusions
Additional coverages
Limits of insurance
Conditions
Definitions
8.0 Businessowners ('10) Policy 8%
8.1 Characteristics and purpose
8.2 Businessowners Section I -- Property
Coverage
Exclusions
Limits
Deductibles
Loss conditions
41
General conditions
Optional coverages
Definitions
8.3 Businessowners Section II -- Liability
Coverages
Exclusions
Who is an insured
Limits of insurance
General conditions
Definitions
8.4 Businessowners Section III -- Common Policy Conditions
8.5 Selected endorsements
Hired auto and non-owned auto liability (BP 04 04)
Protective safeguards (BP 04 30)
Utility services -- direct damage (BP 04 56)
Utility services -- time element (BP 04 57)
9.0 Workers Compensation Insurance 7%
9.1 Workers compensation law
Types of laws
Monopolistic versus competitive
Compulsory versus elective
New Hampshire Workers' Compensation Law (RL Ch 281-A)
Exclusive remedy (RL 281-A:8)
Employment covered (required, voluntary) (RL 281-A:2(VI,VIII), 3, 5, 6, 18, 18-a)
Covered injuries (RL 281-A:2(XI), 12, 14)
Occupational disease (RL 281A:2(XIII); 16)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Benefits provided (RL 281-A:2323b, 2537)
Subsequent injury fund (RL 281A:55)
Federal workers' compensation laws
Federal Employer Liability Act (FELA) (45 USC 5160)
U.S. Longshore and Harbor Workers' Compensation Act (33 USC 904)
The Jones Act (46 USC 688)
9.2 Workers compensation and employers liability insurance policy
General section
Part One -- Workers compensation insurance
Part Two -- Employers liability insurance
Part Three -- Other states insurance
Part Four -- Your duties if injury occurs
Part Five -- Premium
Part Six -- Conditions
Selected endorsement
Voluntary compensation
9.3 Premium computation
Job classification -- payroll and rates
Experience modification factor
Premium discounts
9.4 Other sources of coverages
Assigned risk plan (404-C:113)
Self-insured employers and employer groups (404-C:5-a; RL 281-A:5-a5c)
10.0 Other Coverages and Options 7%
10.1 Umbrella/excess liability policies
Personal (DL 98 01) Commercial (CU 00 01) 10.2 Specialty liability insurance Errors and omissions Professional liability Directors and officers liability Fiduciary liability Liquor liability Employment practices liability Cyber Security Identity Theft 10.3 Surplus lines Definitions and markets Licensing requirements 10.4 Surety bonds Principal, obligee, surety Contract bonds License and permit bonds Judicial bonds 10.5 Aviation insurance Aircraft hull Aircraft liability 10.6 Ocean marine insurance Major coverages Hull insurance Cargo insurance Freight insurance Protection and indemnity 10.7 National Flood Insurance Program "Write your own" versus government Eligibility
42
Coverage Limits Deductibles 10.8 Other policies Boatowners Difference in conditions 10.9 Residual markets Joint underwriting or joint reinsurance associations (412:26)
Producer's Title Insurance Series 12-72
100 questions - 2-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 8% 1.1 Licensing Purpose (402-J:1) Process (402-J:5, 6) Persons to be licensed (402-J:3, 7, 9; 416-A:15) Reporting of Actions (402-J:17) Maintenance and duration (402-J:7) Renewal Expiration Disciplinary actions Cease and desist order (417:12) Denial, suspension or revocation (402:49; 402-J:12) Penalties and fines (417:10, 13) 1.2 State regulation
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Commissioner general duties and powers (400-A:3, 15; 417:5, 14) Company regulation Solvency (416-A:914) Rates (416-A:17) Prohibited business (416-A:8) Unfair insurance trade practices Misrepresentation (417:4(I, II)) False information and advertising (417:4(III)) Defamation (417:4(IV)) Boycott, coercion and intimidation (417:4(V)) Illegal inducement (417:4(VII)) Unfair discrimination (417:4(VIII)) Rebating (417:4(IX, X); 402:39) Examination of books and records (400-A:37) Records Retention (400-B) Names Prohibited (416-A:16) 1.3 Federal regulation Fraud and false statements (18 USC 1033, 1034)
2.0 General Insurance 8% 2.1 Concepts Risk management key terms Risk Exposure Hazard Loss Methods of handling risk Avoidance Retention Sharing
Reduction Transfer Elements of insurable risks Insurable interest Adverse selection Law of large numbers Reinsurance 2.2 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producer Responsibilities to the applicant/insured 2.3 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations
43
Warranties Concealment Fraud Waiver and estoppel 3.0 Real Property 28% 3.1 Concepts, principles and practices Definition of real property Types of real property Title to real property Marketable title 3.2 Acquisition and transfer of real property Conveyances Encumbrances Adverse possession Condemnation Accession Escheats Involuntary alienation Abandonment Judicial sales Decedents' estates Intestate Testate Trusts Types of joint ownership Tenants in common Joint tenancy Acknowledgments Legal capacity of parties Individuals
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Corporations General partnerships Limited partnerships Fictitious names Trust agreements Limited Liability Company (LLC) 3.3 Legal descriptions Types of legal descriptions Types of measurements used Language of real descriptions Structure and format Interpretation 3.4 Escrow principles Escrow terminology Types of escrows Escrow contracts Fiduciary responsibilities of escrow agents 3.5 Recording Types of records Types of recording systems Requirements to record Recording steps Acknowledgments Presumptions 4.0 Title Insurance 33% 4.1 Title insurance principles Risks covered by title insurance Risk of error in public records Hidden off-record title risks Risk of omission and commission by producer
Entities that can be insured; need for insurance Individual Commercial Interests that can be insured Types of estates Easements Title insurance forms Commitments Owner's policy Loan policy Leasehold policies Title insurance policy structure and provisions Insuring provisions Schedule A Schedule B -- Exceptions from coverage Exclusions from coverage Conditions and stipulations Endorsements 4.2 Title searching techniques Hard copy index Computer index Chain sheet
5.0 Title Exceptions and Procedures for Clearing Title 23% 5.1 Principles and concepts General exceptions Voluntary and involuntary liens Federal liens Mortgage Judgments
44
Taxes and assessments Surveys Condominiums Water rights Equitable interests Attachments Executions Covenants Conditions Restrictions 5.2 Special problem areas and concerns Acknowledgments Mechanic's lien Bankruptcy Probate Good faith Foreclosure Claims against the title 5.3 Principles of clearing title Releases Assignments Subordinations Affidavits Reconveyances 5.4 Settlement or closing procedures Real Estate Settlement Procedures Act (RESPA) Insured closing protection
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Public Adjuster's Insurance Series 12-73
100 questions - 2-hour time limit Live Date: February 17, 2018
Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose
1.0 Insurance Regulation 9%
1.1 Licensing requirements Persons to be licensed (402-D:13) Process (402-D:4, 6) Qualifications (402-D:5) Surety bond (402-D:11) 1.2 Maintenance and duration Renewal (402-D:9) Contract requirements (402-D:13, 14) Records (402-D:16) Continuing education requirements (402-D:4-a, 12; Reg 1302.04, RSA 402-J:7-a) 1.3 Disciplinary actions Cease and desist order (417:12) Revocation (402-D:10) Penalties and fines (402-D:19; 417.13) 1.4 Claim settlement laws and regulations (407:1215; 417:4(XV); Reg 1002.01.20) 1.5 Federal regulation Fraud and false statements (18 USC 1033, 1034) 1.6 Records Retention (400-B)
2.0 Insurance Basics 20%
2.1 Contracts
Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel 2.2 Insurance principles and concepts Insurable interest Hazards Physical Moral Morale Causes of loss (perils) Named perils versus special (open) perils
45
Consequential or indirect loss Blanket versus specific insurance Basic types of construction Loss valuation Actual cash value
Direct loss
NReEplWaceHmAeMnt PcoSstH I R E I N S U R A N C E D E P A R T M E N T Functional replacement cost Market value Agreed value Stated amount 2.3 Policy structure Declarations Definitions Insuring agreement or clause Additional/supplementary coverage Conditions Exclusion s Endorse ments 2.4 Common policy provisions Insureds -- named, first named, additional Policy period Policy territory Cancellation and nonrenewal Deductibles Other insurance Nonconcurrenc y Primary and excess Pro rata Policy limits Restoration/nonreduction of
46 limits Coinsurance
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Vacancy or unoccupancy Assignment Liberalization Third-party provisions Standard mortgage clause Loss payable clause No benefit to the bailee
2.5 New Hampshire laws, regulations and required provisions New Hampshire Valued Policy Law (407:11) New Hampshire Insurance Guaranty Association (404-B) Standard fire policy (407:12a, 22) Concealment, misrepresentation or fraud (407:22; RL 638:20) Federal Terrorism Insurance Program (15 USC 6701; Public Law 107297, 109144, 110160)
3.0 Adjusting Losses 26%
3.1 Role of the adjuster Duties and responsibilities Independent adjuster versus public adjuster Public adjuster versus public adjuster solicitor Relationship to the legal profession 3.2 Claim reporting Claim investigation Claim file documentation of events Types of reports Initial or first field Interim or status Full formal 3.3 Property losses
Duties of insured after a loss Notice to insurer Minimizing the loss Proof of loss Special requirements Production of books and records Abandonment Determining value and loss Burden of proof of value and loss Estimates Depreciation Salvage Claim settlement options Payment and discharge 3.4 Claims adjustment procedures Subrogation procedures Alternative dispute resolution Appraisal Arbitration Competitive estimates Mediation Negotiation 4.0 Dwelling ('02) Policy 5% 4.1 Characteristics and purpose 4.2 Coverage forms -- Perils insured against Basic Broad Special 4.3 Property coverages Coverage A -- Dwelling
47
Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Fair rental value Coverage E -- Additional living expense Other coverages 4.4 General exclusions 4.5 Conditions 4.6 Selected endorsements Special provisions -- New Hampshire (DP 01 28) Automatic increase in insurance (DP 04 11) Dwelling under construction (DP 11 43)
5.0 Homeowners ('11) Policy 15% 5.1 Coverage forms HO-2 through HO-6 5.2 Definitions 5.3 Section I -- Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Loss of use Additional coverages 5.4 Perils insured against
5.5 Exclusions 5.6 Conditions 5.7 Selected endorsements Special provisions -- New Hampshire (HO 01 28)
Limited fungi, wet or dry rot, or bacteria coverage (HO 04 26, HO 04 27)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Permitted incidental occupancies (HO 04 42) Earthquake (HO 04 54) Scheduled personal property (HO 04 61) Personal property replacement cost (HO 04 90) Home day care (HO 04 97)
6.0 Commercial Package Policy (CPP) 10% 6.1 Components of a commercial policy Common policy declarations Common policy conditions Interline endorsements One or more coverage parts 6.2 Commercial property ('07) Commercial property conditions form Coverage forms Building and personal property Condominium association Condominium commercial unitowners Builders risk Business income Legal liability Extra expense Causes of loss forms Basic Broad Special Selected endorsements Ordinance or law (CP 04 05) Spoilage (CP 04 40)
Peak season limit of insurance (CP 12 30) Value reporting form (CP 13 10) 6.3 Commercial inland marine Nationwide marine definition Commercial inland marine conditions form Inland marine coverage forms Accounts receivable Bailee's customer Commercial articles Contractors equipment floater Electronic data processing Equipment dealers Installation floater Jewelers block Signs Valuable papers and records Transportation coverages Motor truck cargo forms Transit coverage forms 6.4 Equipment breakdown ('11) Equipment breakdown protection coverage form (EB 00 20) Selected endorsement Actual cash value (EB 99 59) 6.5 Farm coverage Farm property coverage forms ('03) Coverage A -- Dwellings Coverage B -- Other private structures Coverage C -- Household personal property Coverage D -- Loss of use
48
Coverage E -- Scheduled farm personal property Coverage F -- Unscheduled farm personal property Coverage G -- Other farm structures Livestock coverage form Mobile agricultural machinery and equipment coverage form Causes of loss (basic, broad and special) Exclusions Additional coverages Limits of insurance Conditions Definitions
7.0 Businessowners ('10) Policy 15%
7.1 Characteristics and purpose 7.2 Businessowners Section I -- Property Coverage Exclusions Limits Deductibles Loss conditions General conditions Optional coverages Definitions 7.3 Businessowners Section III -- Common Policy Conditions 7.4 Selected endorsements Protective safeguards (BP 04 30) Utility services -- direct damage (BP 04 56) Utility services -- time element (BP 04 57)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Adjuster's Property and Casualty Insurance Series 12-75
150 questions 2.5-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 7% 1.1 Licensing requirements (402-B:1) Qualifications (402-B:3) Process (402-B:3, 4) Licensing exemptions (402-B:2) License display (402-B:9) 1.2 Maintenance and duration Renewal (402-B:10-a) Records (400-A:37(II)) Continuing education requirements (402-B:5-a; Reg 1302.04, RSA 402J:7-a) 1.3 Disciplinary actions Cease and desist order (417:12) Suspension or revocation (402-B:12) Penalties and fines (402-B:12, 13; 417:13) 1.4 Claim settlement laws and regulations (407:1215; 417:4(XV); Reg 1002.01.20) 1.5 Federal regulation Fraud and false statements (18 USC 1033, 1034) 1.6 Records Retention (400-B)
2.0 Insurance Basics 22% 2.1 Contracts Elements of a legal contract
Offer and acceptance Consideration Competent parties Legal purpose Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel 2.2 Insurance principles and concepts Insurable interest Hazards Physical Moral Morale Negligence Elements of a negligent act Defenses against negligence Damages Compensatory -- special versus general Punitive Absolute liability Strict liability Vicarious liability Causes of loss (perils)
49
Named peril versus special (open) perils Direct loss Consequential or indirect loss Blanket versus specific insurance Basic types of construction Loss valuation Actual cash value Replacement cost Functional replacement cost Market value Agreed value Stated amount 2.3 Policy structure Declarations Definitions Insuring agreement or clause Additional/supplementary coverage Conditions Exclusions Endorsements 2.4 Common policy provisions Insureds -- named, first named, additional Policy period Policy territory Cancellation and nonrenewal Deductibles Other insurance Nonconcurrency Primary and excess Pro rata Contribution by equal shares
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Limits of liability Per occurrence (accident) Per person Aggregate -- general versus products -- completed operations Split Combined single Restoration/nonreduction of limits Coinsurance Vacancy or unoccupancy Assignment Insurer provisions Liberalization Duty to defend Third-party provisions Standard mortgage clause Loss payable clause No benefit to the bailee 2.5 New Hampshire laws, regulations and required provisions New Hampshire Valued Policy Law (407:11) New Hampshire Insurance Guaranty Association (404-B) Standard fire policy (407:12a, 22) Cancellation and nonrenewal (417-B; 417-C:14, 6) Concealment, misrepresentation or fraud (407:22; RL 638:20) Federal Terrorism Insurance Program (15 USC 6701; Public Law 107297, 109144, 110160)
3.0 Adjusting Losses 22%
3.1 Role of the adjuster Duties and responsibilities
Staff and independent adjuster versus public adjuster Relationship to the legal profession 3.2 Claim reporting Claim investigation Claim file documentation of events Types of reports Initial or first field Interim or status Full formal 3.3 Property losses Duties of insured after a loss Notice to insurer Minimizing the loss Proof of loss Special requirements Production of books and records Abandonment Determining value and loss Burden of proof of value and loss Estimates Depreciation Salvage Claim settlement options Payment and discharge 3.4 Liability losses Investigation procedures Verify coverage Determine liability Gathering evidence Physical evidence Witness statements
50
Determining value of intangible damages 3.5 Coverage problems Dealing with coverage disputes Reservation of rights letter Nonwaiver agreement Declaratory judgment action 3.6 Claims adjustment procedures Settlement procedures Advance payments Draft authority Execution of releases Subrogation procedures Alternative dispute resolution Appraisal Arbitration Competitive estimates Mediation Negotiation 4.0 Dwelling ('02) Policy 2% 4.1 Characteristics and purpose 4.2 Coverage forms -- Perils insured against Basic Broad Special 4.3 Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Fair rental value
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Coverage E -- Additional living expense Other coverages 4.4 General exclusions 4.5 Conditions 4.6 Selected endorsements Special provisions -- New Hampshire (DP 01 28) Automatic increase in insurance (DP 04 11) Dwelling under construction (DP 11 43) 4.7 Personal liability supplement
5.0 Homeowners ('11) Policy 14%
5.1 Coverage forms HO-2 through HO-6 5.2 Definitions 5.3 Section I -- Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Loss of use Additional coverages 5.4 Section II -- Liability coverages Coverage E -- Personal liability Coverage F -- Medical payments to others Additional coverages 5.5 Perils insured against 5.6 Exclusions 5.7 Conditions 5.8 Selected endorsements
Special provisions -- New Hampshire (HO 01 28)
Limited fungi, wet or dry rot, or bacteria coverage (HO 04 26, HO 04 27)
Permitted incidental occupancies (HO 04 42)
Earthquake (HO 04 54)
Scheduled personal property (HO 04 61)
Personal property replacement cost (HO 04 90)
Home day care (HO 04 97)
Business pursuits (HO 24 71)
Watercraft (HO 24 75)
Personal injury (HO 24 82)
6.0 Auto Insurance 25%
6.1 Laws
New Hampshire Motor Vehicle Financial Responsibility Law
Required limits of liability (RL 259:61, 264:20)
New Hampshire Automobile Reinsurance Facility Plan (Reg 1405)
New Hampshire Commercial Auto Insurance Plan
Uninsured/underinsured motorist (RL 264:15)
Definitions
Bodily injury
Required limits
Cancellation/nonrenewal (417-A)
Grounds
Notice
Notice of eligibility in Automobile Reinsurance Facility Plan (417A:5(V))
Residency statement (417-A:3-b)
51
Medical costs coverage (RL 264:16) After market parts regulation (407D) 6.2 Personal ('05) auto policy Definitions Liability coverage Bodily injury and property damage Supplementary payments Exclusions Medical payments Uninsured motorist / underinsured motorist coverage Coverage for damage to your auto Collision Other than collision Deductibles Transportation expense Exclusions Duties after an accident or loss General provisions Selected endorsements Amendment of policy provisions -- New Hampshire (PP 01 76) Towing and labor costs (PP 03 03) Extended non-owned coverage -- vehicles furnished or available for regular use (PP 03 06) Miscellaneous type vehicle -- New Hampshire (PP 13 32) Joint ownership coverage -- New Hampshire (PP 13 34) 6.3 Commercial auto ('10) Commercial auto coverage forms Business auto Garage
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Business auto physical damage Coverage form sections Covered autos Liability coverage Garagekeepers coverage Physical damage coverage Exclusions Conditions Definitions Selected endorsements Lessor -- additional insured and loss payee (CA 20 01) Mobile equipment (CA 20 15) Auto medical payments coverage (CA 99 03) Drive other car coverage (CA 99 10) Hired autos specified as covered autos you own (CA 99 16) Individual named insured (CA 99 17) Pollution liability -- broadened coverage (CA 99 48; CA 99 55)
7.0 Commercial Package Policy (CPP) 5%
7.1 Components of a commercial policy Common policy declarations Common policy conditions Interline endorsements
One or more coverage parts 7.2 Commercial general liability ('07) Commercial general liability coverage forms Bodily injury and property damage liability
Personal and advertising injury liability Medical payments Supplementary payments Who is an insured Limits of liability Conditions Definitions Exclusions Occurrence versus claims-made Claims-made features Trigger Retroactive date Extended reporting periods -- basic versus supplemental Claim information Premises and operations Products and completed operations Insured contract Pollution liability Pollution liability coverage form (CG 00 39) Pollution liability limited coverage form (CG 00 40) Pollution liability coverage extension endorsement (CG 04 22) 7.3 Commercial property ('07) Commercial property conditions form Coverage forms Building and personal property Condominium association Condominium commercial unitowners Builders risk Business income
52
Legal liability Extra expense Causes of loss forms Basic Broad Special Selected endorsements coverage Ordinance or law (CP 04 05) Spoilage coverage (CP 04 40) Peak season limit of insurance (CP 12 30) Value reporting form (CP 13 10) 7.4 Commercial crime ('06) General definitions Burglary Theft Robbery Crime coverage forms Commercial crime coverage forms (discovery/loss sustained) Government crime coverage forms (discovery/loss sustained) Coverages Employee theft Forgery or alteration Inside the premises -- theft of money and securities Inside the premises -- robbery or safe burglary of other property Outside the premises Computer fraud Funds transfer fraud Money orders and counterfeit money Other crime coverage
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Extortion -- commercial entities (CR 04 03) 7.5 Commercial inland marine Nationwide marine definition Commercial inland marine conditions form Inland marine coverage forms Accounts receivable Bailee's customer Commercial articles Contractors equipment floater Electronic data processing Equipment dealers Installation floater Jewelers block Signs Valuable papers and records Transportation coverages Common carrier cargo liability Motor truck cargo forms Transit coverage forms 7.6 Equipment breakdown ('11) Equipment breakdown protection coverage form (EB 00 20) Selected endorsement Actual cash value (EB 99 59) 7.7 Farm coverage Farm property coverage form ('03) Coverage A -- Dwellings Coverage B -- Other private structures Coverage C -- Household personal property Coverage D -- Loss of use
Coverage E -- Scheduled farm personal property Coverage F -- Unscheduled farm personal property Coverage G -- Other farm structures Farm liability coverage form ('06) Coverage H -- Bodily injury and property damage liability Coverage I -- Personal advertising injury liability Coverage J -- Medical payments Livestock coverage form Mobile agriculture machinery and equipment coverage form Causes of loss (basic, broad and special) Exclusions Additional coverages Limits of insurance Conditions Definitions
8.0 Businessowners ('10) Policy 3% 8.1 Characteristics and purpose 8.2 Businessowners Section I -- Property Coverage Exclusions Limits Deductibles Loss conditions General conditions Optional coverages Definitions 8.3 Businessowners Section II -- Liability
53
Coverages Exclusions Who is an insured Limits of insurance General conditions Definitions 8.4 Businessowners Section III -- Common Policy Conditions 8.5 Selected endorsements Hired auto and non-owned auto liability (BP 04 04) Protective safeguards (BP 04 30) Utility services -- direct damage (BP 04 56) Utility services -- time element (BP 04 57)
Adjuster's Workers Compensation Insurance
Series 12-76
50 questions - 1-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 9% 1.1 Licensing requirements Qualifications (402-B:3) Process (402-B:3, 4) Licensing exemptions (402-B:2) License display (402-B:9) 1.2 Maintenance and duration Renewal (402-B:10-a) Records (400-A:37(II))
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Continuing education requirements (402-B:5-a; Reg 1302.04)
1.3 Disciplinary actions
Suspension or revocation (402-B:12)
Penalties and fines (402-B:12, 13; 417:13)
1.4 Claim settlement laws and regulations (417:4(XV); RL 281A:42)
2.0 Workers Compensation Insurance 75%
2.1 Workers compensation law
New Hampshire Workers' Compensation Law (RL Ch 281-A)
Exclusive remedy (RL 281-A:8)
Employment covered (required, voluntary) (RL 281-A:2(VI,VIII), 3, 5, 6, 18, 18-a)
Covered injuries (RL 281-A:2(XI), 12, 14)
Occupational disease (RL 281A:2(XIII), 16)
Statute of limitations (RL 281-A:19, 21-a)
Waiting period (RL 281-A:22)
Benefits provided (RL 281-A:2323b, 2537)
Reinstatement of employee sustaining compensable injury (RL 281-A:25-a)
Special Fund for Second Injuries (RL 281-A:55)
Subrogation (RL 281-A:13)
Medical Exams (RL 281-A:38, 38a, 39)
Claims Adjusters (RL 281-A:63)
Hearing and Awards (RL 281-A:43)
2.2 Workers compensation and employers liability insurance policy
General section Part One -- Workers compensation insurance Part Two -- Employers liability insurance Part Three -- Other states insurance
Part Four -- Your duties if injury occurs Part Five -- Premium Part Six -- Conditions Selected endorsements Voluntary compensation Foreign coverage endorsement
3.0 Investigation and Evaluation 16% 3.1 Role of the adjuster Duties and responsibilities Relationship to the legal profession 3.2 Compensability Employee/non-employee During course of employment Arising out of employment 3.3 Documentation First report of injury Claimant statement Insured's records Witness statements Current activity reports 3.4 Medical determination Medical authorization Diagnosis Prognosis Independent Medical Examinations (IME)
54
New Hampshire Life Insurance Laws and Regulations Series 12-78
40 questions - 1-hour time limit Live date: February 17, 2018
1.0 Insurance Regulation 25% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI)) Reporting of actions (402-J:17) Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a) Disciplinary actions Cease and desist order (417:12) Denial, suspension or revocation (402:49; 402-J:12) Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13) 1.2 State regulation
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Commissioner's general duties and powers (400-A:3, .15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 30013006)
1.3 Federal regulation
Fair Credit Reporting Act (15 USC 16811681d)
Fraud and false statements (18 USC 1033, 1034)
2.0 New Hampshire Laws and Regulations Pertaining to Life Insurance and Annuities 75%
2.1 Producer responsibilities
Solicitation and sales presentations (INS 301.01.07)
Advertising (INS 2601-2604)
Life and Health Insurance Guaranty Association (408-B:19(I))
Buyer's guide and policy summary (INS 301.05)
Guaranty association disclaimer (408-B:19(IIIV)
Illustrations (INS 309.01.12)
Replacement (INS 302.01.09)
Use and disclosure of insurance information
2.2 Individual underwriting by the insurer
Insurable interest (408:2, 2-a)
Unfair discrimination (408:11)
Medical examinations and lab tests including HIV (417:4(XIX); Reg 1103.01, .02)
2.3 Individual life insurance policy provisions
Entire contract (408:9; Reg 401.04(a)(3))
Right to examine (free look) (Reg 401.04(f))
Payment of premiums (Reg 401.04(a)(1))
Grace period (Reg 401.04(a)(2))
Reinstatement (Reg 401.04(d))
55
Incontestability (408:10; Reg 401.04(a)(6,7)) Misstatement of age or sex (Reg 401.04(a)(8)) Exclusions (Reg 401.04(m)) Interest on life insurance benefits (408:10-a) Backdating of policies (Reg 301.06(j)) 2.4 Group life insurance Group eligibility (408:15) Standard provisions (408:16) Conversion to individual policy (408:16(VIIIX)) Coverage during labor dispute (408:16-b)
New Hampshire Accident and Health Insurance Laws and Regulations Series 12-79
40 questions - 1-hourt time limit Live date: February 17, 2018
1.0 Insurance Regulation 25% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Temporary (402-J:11)
Maintenance and duration
Renewal (402-J:7(IIIV))
Change of address (402-J:7(VI))
Reporting of actions (402-J:17)
Assumed names (402-J:10)
Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a)
Disciplinary actions
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 30013006)
1.3 Federal regulation
Fair Credit Reporting Act (15 USC 16811681d)
Fraud and false statements (18 USC 1033, 1034)
2.0 New Hampshire Laws and Regulations Pertaining to Accident and Health Insurance 75%
2.1 Producer responsibilities in individual health insurance
Advertising (Reg 26012604)
Life and Health Insurance Guaranty Association (408-B:19(I))
Outline of coverage (415-A:4; Reg 1901.06)
Guaranty association disclaimer (408-B:19(IIIV)
Medical examinations and lab tests including HIV (417:4(XIX); Reg 1103.01, .02)
56
Unfair discrimination (415:15)
Replacement (Reg 1901.07)
2.2 Individual health insurance provisions
Entire contract; changes (415:6(I)(1))
Time limit on certain defenses (415:6(I)(2))
Grace period (415:6(I)(3))
Reinstatement (415:6(I)(4))
Claim procedures (415:6(I)(59))
Physical examinations and autopsy (415:6(I)(10))
Legal actions (415:6(I)(11))
Change of beneficiary (415:6(I)(12))
Loss of time benefits (415:6(I)(13))
Refund upon cancellation (415:6(I)(14))
Right to examine (free look) (Reg 401.04(f), 1901.06(a)(11))
Renewability clause (Reg 1901.05)
Military suspense provision (Reg 1901.05)
Change of occupation (415:6(II)(1))
Misstatement of age (415:6(II)(2))
Other insurance in this insurer (415:6(II)(3))
Insurance with other insurers
Expense-incurred basis (415:6(II)(4))
Other than expense-incurred basis (415:6(II)(5))
Relation of earnings to insurance (415:6(II)(6))
Unpaid premium (415:6(II)(7))
Cancellation; refusal to renew (415:6(II)(8))
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Conformity with state statutes (415:6(II)(9))
2.3 New Hampshire requirements (individual and group)
Eligibility requirements
Newborn children (415:22)
Adopted children (415:22-a)
Child enrollment; noncustodial parents (RL 161-H:2)
Benefit offers
Maternity coverage (415:6-d)
2.4 Group health insurance
Part-time employees (415:18(I)(q))
Coordination of benefits (Reg 1904.05.07)
Cancellation or nonrenewal (415:18b)
Continuation of coverage under COBRA and New Hampshire specific rules (415:18(VII))
Conversion privilege (415:18(VII)(a b))
2.5 Small employer group medical plans
Definition of small employer (420G:2(XVI))
Renewability of coverage (420-G:6)
Participation requirements (420-G:9)
Open enrollment and late enrollment (420-G:8)
Prohibited underwriting practices (420-G:4(I)(b), 5)
2.6 Medicare supplement policies
Open enrollment (Reg 1905.10)
Standards for marketing (Reg 1905.19)
Advertising (Reg 1905.06, .18)
Appropriateness of recommended purchase (Reg 1905.20)
Guaranteed issue for eligible persons (Reg 1905.11) Buyer's guide (Reg 1905.16(a)(6)) Outline of coverage (Reg 1905.16(d)) Right to return (free look) (Reg 1905.16(a)(5)) Replacement (Reg 1905.17, .22) Required disclosure provisions (Reg 1905.16) Permitted compensation (Reg 1905.15) Notice of change (Reg 1905.16(b)) Benefit standards (Reg 1905.07) Prohibited practices (Reg 1905.22) Medicare Select (Reg 1905.09) 2.7 Long-term care (LTC) policies (3600) Traditional LTC (3601) LTC Partnerships (3602) Outline of coverage (415-D:8) Right to return (free look) (415-D:7) Benefit standards (415-D:3(V), 5) Continuation of coverage/conversion (415-D:6) 2.8 New Hampshire mandated provisions
New Hampshire Life, Accident and Health Insurance Laws and
Regulations Series 12-80 40 questions - 1-hour time limit Live date: February 17, 2018
57
1.0 Insurance Regulation 14%
1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI)) Reporting of actions (402-J:17) Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a) Disciplinary actions Disciplinary actions Cease and desist order (417:12) Denial, suspension or revocation (402:49; 402-J:12) Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13) 1.2 State regulation Commissioner's general duties and powers (400-A:3, 15; 417:5, 14) Company regulation Producer appointment (402-J:14) Termination of appointment (402J:15)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 30013006)
1.3 Federal regulation
Fair Credit Reporting Act (15 USC 16811681d)
Fraud and false statements (18 USC 1033, 1034)
2.0 New Hampshire Laws and Regulations Pertaining to Life Insurance and Annuities 43%
2.1 Producer responsibilities
Solicitation and sales presentations (Reg 301.01.07)
Life and Health Insurance Guaranty Association (408-B:19(I))
Buyer's guide and policy summary (Reg 301.05)
Guaranty association disclaimer (408-B:19(IIIV)
Illustrations (Reg 309.01.12)
Replacement (Reg 302.01.09)
2.2 Individual underwriting by the insurer
Insurable interest (408:2, 2-a)
Unfair discrimination (408:11)
Medical examinations and lab tests including HIV (417:4(XIX); Reg 1103.01, .02)
2.3 Individual life insurance policy provisions
Entire contract (408:9; Reg 401.04(a)(3))
Right to examine (free look) (Reg 401.04(f))
Payment of premiums (Reg 401.04(a)(1))
Grace period (Reg 401.04(a)(2))
Reinstatement (Reg 401.04(d))
Incontestability (408:10; Reg 401.04(a)(6,7))
Misstatement of age or sex (Reg 401.04(a)(8))
Exclusions (Reg 401.04(m))
Interest on life insurance benefits (408:10-a)
Backdating of policies (Reg 301.06(j))
58
2.4 Group life insurance
Group eligibility (408:15)
Standard provisions (408:16)
Conversion to individual policy (408:16(VIIIX))
Coverage during labor dispute (408:16-b)
3.0 New Hampshire Laws and Regulations Pertaining to Accident and Health Insurance 43%
3.1 Producer responsibilities in individual health insurance
Advertising (INS 26012604)
Life and Health Insurance Guaranty Association (408-B:19(I))
Outline of coverage (415-A:4; Reg 1901.06)
Guaranty association disclaimer (408-B:19(IIIV)
Medical examinations and lab tests including HIV (417:4(XIX); INS 1103.01, .02)
Unfair discrimination (415:15)
Replacement (INS 1901.07)
3.2 Individual health insurance provisions
Entire contract; changes (415:6(I)(1))
Time limit on certain defenses (415:6(I)(2))
Grace period (415:6(I)(3))
Reinstatement (415:6(I)(4))
Claim procedures (415:6(I)(59))
Physical examinations and autopsy (415:6(I)(10))
Legal actions (415:6(I)(11))
Change of beneficiary (415:6(I)(12))
Loss of time benefits (415:6(I)(13))
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Refund upon cancellation (415:6(I)(14))
Right to examine (free look) (Reg 401.04(f), 1901.06(a)(11))
Renewability clause (Reg 1901.05)
Military suspense provision (Reg 1901.05)
Change of occupation (415:6(II)(1))
Misstatement of age (415:6(II)(2))
Other insurance in this insurer (415:6(II)(3))
Insurance with other insurers
Expense-incurred basis (415:6(II)(4))
Other than expense-incurred basis (415:6(II)(5))
Relation of earnings to insurance (415:6(II)(6))
Unpaid premium (415:6(II)(7))
Cancellation; refusal to renew (415:6(II)(8))
Conformity with state statutes (415:6(II)(9))
3.3 New Hampshire requirements (individual and group)
Eligibility requirements
Newborn children (415:22)
Adopted children (415:22-a)
Child enrollment; noncustodial parents (RL 161-H:2)
Benefit offers
Maternity coverage (415:6-d)
3.4 Group health insurance
Part-time employees (415:18(I)(q))
Coordination of benefits (Reg 1904.05.07)
Cancellation or nonrenewal (415:18b)
Continuation of coverage under COBRA and New Hampshire specific rules (415:18(VII))
Conversion privilege (415:18(VII)(a b))
3.5 Small employer group medical plans
Definition of small employer (420G:2(XVI))
Renewability of coverage (420-G:6)
Participation requirements (420-G:9)
Open enrollment and late enrollment (420-G:8)
Prohibited underwriting practices (420-G:4(I)(b), 5)
3.6 Medicare supplement policies
Open enrollment (Reg 1905.10)
Standards for marketing (Reg 1905.19)
Advertising (Reg 1905.06, .18)
Appropriateness of recommended purchase (Reg 1905.20)
Guaranteed issue for eligible persons (Reg 1905.11)
Buyer's guide (Reg 1905.16(a)(6))
Outline of coverage (Reg 1905.16(d))
Right to return (free look) (Reg 1905.16(a)(5))
Replacement (Reg 1905.17, .22)
Required disclosure provisions (Reg 1905.16)
Permitted compensation (Reg 1905.15)
Notice of change (Reg 1905.16(b))
Benefit standards (Reg 1905.07)
Prohibited practices (Reg 1905.22)
Medicare Select (Reg 1905.09)
59
3.7 Long-term care (LTC) policies (3600) Traditional LTC (3601) LTC Partnerships (3602) Outline of coverage (415-D:8) Right to return (free look) (415-D:7) Benefit standards (415-D:3(V), 5) Continuation of coverage/conversion (415-D:6) 3.8 New Hampshire mandated provisions
New Hampshire Property and Casualty Insurance Laws and Regulations
Series 12-81 40 questions - 1-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 25% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI))
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Reporting of actions (402-J:17)
Assumed names (402-J:10)
Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a)
Disciplinary actions
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 30013006)
1.3 Federal regulation
Fair Credit Reporting Act (15 USC 16811681d)
Fraud and false statements (18 USC 1033, 1034)
2.0 New Hampshire Laws and Regulations Pertaining to Property and Casualty Insurance 75%
2.1 New Hampshire laws, regulations and required provisions
New Hampshire Valued Policy Law (407:11)
New Hampshire Insurance Guaranty Association (404-B)
Standard fire policy (407:12-a, 22)
Cancellation and nonrenewal (417-B; 417-C:14, 6)
Binders (407:6)
Concealment, misrepresentation or fraud (407:22; RSA 638.20)
Claim settlement time limits (407:12, 12-a; Reg 1002.05)
Federal Terrorism Insurance Program (15 USC 6701; Public Law 107297, 109144, 110160)
60
Record Retention (400-B)
2.2 Auto insurance
New Hampshire Motor Vehicle Financial Responsibility Law
Required limits of liability (RSA 259:61, 264.20)
New Hampshire Automobile Reinsurance Facility Plan (Reg 1405)
New Hampshire Commercial Auto Insurance Plan
Uninsured/underinsured motorist (RSA 264:15)
Definitions
Bodily injury
Required limits
Cancellation/nonrenewal (417-A)
Grounds
Notice
Notice of eligibility in Automobile Reinsurance Facility Plan (417A:5(V))
Residency statement (417-A:3-b; 1406.01)
Medical costs coverage (RSA 264:16)
After-market parts regulation (407D)
Coverage Deductible Waiver (417A:11)
2.3 New Hampshire Workers Compensation Law (RSA Ch 281A)
Types of laws
Monopolistic versus competitive
Compulsory versus elective
Exclusive remedy (RSA 281-A:8)
Employment covered (required, voluntary) (RSA 281-A:2(VI,VIII), 3, 5, 6, 18, 18-a)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Covered injuries (RSA 281-A:2(XI), 12, 14) Occupational disease (RSA 281A:2(XIII), 16) Benefits provided (RSA 281-A:23 23-b, 2537) Subsequent injury fund (RSA 281A:55) Employee classification
New Hampshire Adjuster's Property and Casualty Insurance Laws and Regulations Series 12-83
40 questions - 1-hour time limit Live date: February 17, 2018
1.0 Insurance Regulation 25% 1.1 Licensing requirements Qualifications (402-B:3) Process (402-B:3, 4) Licensing exemptions (402-B:2) License display (402-B:9) 1.2 Maintenance and duration Renewal (402-B:10-a) Records (400-A:37(II)) Continuing education requirements (402-B:5-a; Reg 1302.04, RSA 402J:7-a) 1.3 Disciplinary actions Cease and desist order (417:12) Suspension or revocation (402-B:12) Penalties and fines (402-B:12, 13; 417:13)
1.4 Claim settlement laws and regulations (407:1215; 417:4(XV); Reg 1002.01.20)
1.5 Federal regulation
Fraud and false statements (18 USC 1033, 1034)
2.0 New Hampshire Laws and Regulations Pertaining to Property and Casualty Insurance 75%
2.1 New Hampshire laws, regulations and required provisions
New Hampshire Valued Policy Law (407:11)
New Hampshire Insurance Guaranty Association (404-B)
Standard fire policy (407:12-a, 22)
Cancellation and nonrenewal (417-B; 417-C:14, 6)
Concealment, misrepresentation or fraud (407:22; RL 638:20)
Federal Terrorism Insurance Program (15 USC 6701; Public Law 107297, 109144, 110160)
2.2 Auto insurance
New Hampshire Motor Vehicle Financial Responsibility Law
Required limits of liability (RL 259:61, 264:20)
New Hampshire Automobile Reinsurance Facility Plan (Reg 1405)
New Hampshire Commercial Auto Insurance Plan
Uninsured/underinsured motorist (RL 264:15)
Definitions
Bodily injury
Required limits
Cancellation/nonrenewal (417-A)
Grounds 61
Notice Notice of eligibility in Automobile Reinsurance Facility Plan (417A:5(V)) Residency statement (417-A:3-b) Medical costs coverage (RL 264:16) After-market parts regulation (407D)
Producer's Property Insurance Series 12-84
100 questions - 2-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 9% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI)) Reporting of actions (402-J:17) Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a) Disciplinary actions
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX)) Examination of books and records (400-A:37) Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20) Consumer privacy regulation (Reg 30013006) 1.3 Federal regulation Fair Credit Reporting Act (15 USC 16811681d) Fraud and false statements (18 USC 1033, 1034)
2.0 General Insurance 12% 2.1 Concepts Risk management key terms Risk Exposure Hazard Peril Loss Methods of handling risk Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies
62
Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems 2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producers 2.4 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel
3.0 Property Insurance Basics 21% 3.1 Principles and concepts Insurable interest Underwriting Function Loss ratio Rates Types Loss costs Components Hazards Physical Moral Morale Causes of loss (perils) Named perils versus special (open) perils Direct loss Consequential or indirect loss Blanket versus specific insurance Basic types of construction Loss valuation Actual cash value Replacement cost
Functional replacement cost Market value Agreed value Stated amount 3.2 Policy structure Declarations Definitions Insuring agreement or clause Additional/supplementary coverage Conditions Exclusions Endorsements 3.3 Common policy provisions Insureds -- named, first named, additional Policy period Policy territory Cancellation and nonrenewal Deductibles Other insurance Nonconcurrency Primary and excess Pro rata Property limits Restoration/nonreduction of limits Coinsurance Vacancy or unoccupancy Named insured provisions Duties after loss Assignment Abandonment Insurer provisions
63
Liberalization
Subrogation
Salvage
Claim settlement options
Third-party provisions
Standard mortgage clause
Loss payable clause
No benefit to the bailee
3.4 New Hampshire laws, regulations and required provisions
New Hampshire Valued Policy Law (407:11)
New Hampshire Insurance Guaranty Association (404-B)
Standard fire policy (407:12-a, 22)
Cancellation and nonrenewal (417-B; 417-C:14, 6)
Binders (407:6)
Concealment, misrepresentation or fraud (407:22; RL 638:20)
Claim settlement time limits (407:12, 12-a; Reg 1002.05)
Federal Terrorism Insurance Program (15 USC 6701; Public Law 107297, 109144, 110160)
Record Retention (400-B)
Certificate of Insurance House Bill 419 eff 1/1/2012
4.0 Dwelling ('02) Policy 9%
4.1 Characteristics and purpose
4.2 Coverage forms -- Perils insured against
Basic
Broad
Special
4.3 Property coverages
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Fair rental value Coverage E -- Additional living expense Other coverages 4.4 General exclusions 4.5 Conditions 4.6 Selected endorsements Special provisions -- New Hampshire (DP 01 28) Automatic increase in insurance (DP 04 11) Dwelling under construction (DP 11 43)
5.0 Homeowners ('11) Policy 19% 5.1 Coverage forms HO-2 through HO-6 5.2 Definitions 5.3 Section I -- Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Loss of use Additional coverages 5.4 Perils insured against 5.5 Exclusions 5.6 Conditions 5.7 Selected endorsements Special provisions -- New Hampshire (HO 01 28)
Limited fungi, wet or dry rot, or bacteria coverage (HO 04 26, HO 04 27) Permitted incidental occupancies (HO 04 42) Earthquake (HO 04 54) Scheduled personal property (HO 04 61) Personal property replacement cost (HO 04 90) Home day care (HO 04 97) Identity Theft
6.0 Commercial Package Policy (CPP) 14% 6.1 Components of a commercial policy Common policy declarations Common policy conditions Interline endorsements One or more coverage parts 6.2 Commercial property ('07) Commercial property conditions form Coverage forms Building and personal property Condominium association Condominium commercial unitowners Builders risk Business income Legal liability Extra expense Causes of loss forms Basic Broad Special
64
Selected endorsements coverage Ordinance or law (CP 04 05) Spoilage coverage (CP 04 40) Peak season limit of insurance (CP 12 30) Value reporting form (CP 13 10) 6.3 Commercial inland marine Nationwide marine definition Commercial inland marine conditions form Inland marine coverage forms Accounts receivable Bailee's customer Commercial articles Contractors equipment floater Electronic data processing Equipment dealers Installation floater Jewelers block Signs Valuable papers and records Transportation coverages Common carrier cargo liability Motor truck cargo forms Transit coverage forms 6.4 Equipment breakdown ('11) Equipment breakdown protection coverage form (EB 00 20) Selected endorsement Actual cash value (EB 99 59) 6.5 Farm coverage Farm property coverage form ('03) Coverage A -- Dwellings
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Coverage B -- Other private structures
Coverage C -- Household personal property
Coverage D -- Loss of use
Coverage E -- Scheduled farm personal property
Coverage F -- Unscheduled farm personal property
Coverage G -- Other farm structures
Livestock coverage form
Mobile agriculture machinery and equipment coverage form
Causes of loss (basic, broad and special)
Exclusions
Additional coverages
Limits of insurance
Conditions
Definitions
7.0 Businessowners ('10) Policy 11%
7.1 Characteristics and purpose
7.2 Businessowners Section I -- Property
Coverage
Exclusions
Limits
Deductibles
Loss conditions
General conditions
Optional coverages
Definitions
7.3 Businessowners Section III -- Common Policy Conditions
7.4 Selected endorsements Protective safeguards (BP 04 30) Utility services -- direct damage (BP 04 56) Utility services -- time element (BP 04 57) 8.0 Other Coverages and Options 5% 8.1 Aviation insurance Aircraft hull 8.2 Ocean marine insurance Major coverages Hull insurance Cargo insurance Freight insurance 8.3 National Flood Insurance Program "Write your own" versus government Eligibility Coverage Limits Deductibles 8.4 Other policies Boatowners Difference in conditions 8.5 Residual markets Joint underwriting or joint reinsurance associations (412:26)
Producer's Casualty Insurance Series 12-85
100 questions - 2-hour time limit Live date: February 17, 2018
65
1.0 Insurance Regulation 8% 1.1 Licensing
Process (402-J:5, 6)
Types of licensees Producer (402-J:2, 14)
Producer with appointment (402J:14)
Business entity (402-J:6) Financial institutions (406-C:119)
Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV))
Change of address (402-J:7(VI))
Reporting of actions (402-J:17)
Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a) Disciplinary actions
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation Producer appointment (402-J:14)
Termination of appointment (402J:15) Producer regulation
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 30013006)
1.3 Federal regulation
Fair Credit Reporting Act (15 USC 16811681d)
Fraud and false statements (18 USC 1033, 1034)
2.0 General Insurance 8%
2.1 Concepts Risk management key terms Risk Exposure Hazard Peril Loss Methods of handling risk Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems
66
2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producers 2.4 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel 3.0 Casualty Insurance Basics 17% 3.1 Principles and concepts Insurable interest
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Underwriting Function Loss ratio Rates Types Loss costs Components Hazards Physical Moral Morale Negligence Elements of a negligent act Defenses against negligence Damages Compensatory -- special versus general Punitive Absolute liability Strict liability Vicarious liability 3.2 Policy structure Declarations Definitions Insuring agreement or clause Additional/supplementary coverage Conditions Exclusions Endorsements 3.3 Common policy provisions Insureds -- named, first named, additional Policy period
Policy territory Cancellation and nonrenewal Deductibles Other insurance Nonconcurrency Primary and excess Pro rata Contribution by equal shares Limits of liability Per occurrence (accident) Per person Aggregate -- general versus products -- completed operations Split Combined single Named insured provisions Duties after loss Assignment Insurer provisions Liberalization Subrogation Duty to defend 3.4 New Hampshire laws, regulations and required provisions New Hampshire Insurance Guaranty Association (404-B) Cancellation and nonrenewal (417-B; 417-C) Binders (407:6) Concealment, misrepresentation or fraud (407:22; RL 638:20) Claim settlement time limits (407:12, 12-a; Reg 1002.05)
67
Federal Terrorism Insurance Program (15 USC 6701; Public Law 107297, 109144, 110160)
Certificate of Insurance House Bill 419 eff 1/1/2012
4.0 Homeowners ('11) Policy 15%
4.1 Coverage forms
HO-2 through HO-6
4.2 Definitions
4.3 Section II -- Liability coverages
Coverage E -- Personal liability
Coverage F -- Medical payments to others
Additional coverages
4.4 Exclusions
4.5 Conditions
4.6 Selected endorsements
Special provisions -- New Hampshire (HO 01 28)
Permitted incidental occupancies (HO 04 42)
Limited fungi, wet or dry rot, or bacteria coverage (HO 04 26, HO 04 27)
Home day care (HO 04 97)
Business pursuits (HO 24 71)
Watercraft (HO 24 75)
Personal injury (HO 24 82)
5.0 Auto Insurance 17%
5.1 Laws
New Hampshire Motor Vehicle Financial Responsibility Law
Required limits of liability (RL 259:61, 264:20)
New Hampshire Automobile Reinsurance Facility Plan (Reg 1405)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
New Hampshire Commercial Auto Insurance Plan Uninsured/underinsured motorist (RL 264:15) Definitions Bodily injury Required limits Cancellation/nonrenewal (417-A) Grounds Notice Notice of eligibility in Automobile Reinsurance Facility Plan (417A:5(V)) Residency statement (417-A:3-b; 1406.01) Medical costs coverage (RL 264:16) After-market parts regulation (407D) 5.2 Personal ('05) auto policy Definitions Liability coverage Bodily injury and property damage Supplementary payments Exclusions Medical payments Uninsured motorist / underinsured motorist coverage Coverage for damage to your auto Collision Other than collision Deductibles Transportation expense Exclusions Duties after an accident or loss General provisions
Selected endorsements Amendment of policy provisions -- New Hampshire (PP 01 76) Towing and labor costs (PP 03 03) Extended non-owned coverage -- vehicles furnished or available for regular use (PP 03 06) Miscellaneous type vehicle -- New Hampshire (PP 13 32) Joint ownership coverage -- New Hampshire (PP 13 34) 5.3 Commercial auto ('10) Commercial auto coverage forms Business auto
Garage Business auto physical damage Coverage form sections Covered autos Liability coverage Garagekeepers coverage Physical damage coverage Exclusions Conditions Definitions Selected endorsements Lessor -- additional insured and loss payee (CA 20 01) Mobile equipment (CA 20 15) Auto medical payments coverage (CA 99 03) Drive other car coverage (CA 99 10) Hired autos specified as covered autos you own (CA 99 16) Individual named insured (CA 99 17) Pollution liability -- broadened coverage (CA 99 48; CA 99 55)
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6.0 Commercial Package Policy (CPP) 10% 6.1 Components of a commercial policy Common policy declarations Common policy conditions Interline endorsements One or more coverage parts 6.2 Commercial general liability ('07) Commercial general liability coverage forms Bodily injury and property damage liability Personal and advertising injury liability Medical payments Supplementary payments Who is an insured Limits of liability Conditions Definitions Exclusions Occurrence versus claims-made Claims-made features Trigger Retroactive date Extended reporting periods -- basic versus supplemental Claim information Premises and operations Products and completed operations Insured contract Pollution liability
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Pollution liability coverage form (CG 00 39)
Pollution liability limited coverage form (CG 00 40)
Pollution liability coverage extension endorsement (CG 04 22)
6.3 Commercial crime ('06)
General definitions Burglary
Theft
Robbery
Crime coverage forms
Commercial crime coverage forms (discovery/loss sustained)
Government crime coverage forms (discovery/loss sustained)
Coverages
Employee theft
Forgery or alteration
Inside the premises -- theft of money and securities
Inside the premises -- robbery or safe burglary of other property
Outside the premises
Computer fraud
Funds transfer fraud
Money orders and counterfeit money
Other crime coverage
Extortion -- commercial entities (CR 04 03)
6.4 Farm Coverage
Farm liability coverage form ('06)
Coverage H -- Bodily injury and property damage liability
Coverage I -- Personal advertising injury liability
Coverage J -- Medical payments
Definitions Conditions Exclusions Limits Additional coverages
7.0 Businessowners ('10) Policy 10% 7.1 Characteristics and purpose 7.2 Businessowners Section II -- Liability Coverages Exclusions Who is an insured Limits of insurance General conditions Definitions 7.3 Businessowners Section III -- Common Policy Conditions 7.4 Selected endorsements Hired auto and non-owned auto liability (BP 04 04)
8.0 Workers Compensation Insurance 10% 8.1 Workers compensation law Types of laws Monopolistic versus competitive Compulsory versus elective New Hampshire Workers' Compensation Law (RL Ch 281-A) Exclusive remedy (RL 281-A:8) Employment covered (required, voluntary) (RL 281-A:2(VI,VIII), 3, 5, 6, 18, 18-a) Covered injuries (RL 281-A:2(XI), 12, 14)
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Occupational disease (RL 281A:2(XIII), 16)
Benefits provided (RL 281-A:2323b, 2537)
Subsequent injury fund (RL 281A:55)
Federal workers' compensation laws
Federal Employer Liability Act (FELA) (45 USC 5160)
U.S. Longshore and Harbor Workers' Compensation Act (33 USC 904)
The Jones Act (46 USC 688)
8.2 Workers compensation and employers liability insurance policy
General section
Part One -- Workers compensation insurance
Part Two -- Employers liability insurance
Part Three -- Other states insurance
Part Four -- Your duties if injury occurs
Part Five -- Premium
Part Six -- Conditions
Selected endorsement
Voluntary compensation
8.3 Premium computation
Job classification -- payroll and rates
Experience modification factor
Premium discounts
8.4 Other source of coverages
Assigned risk plan (404-C:113)
Self-insured employers and employer groups (404-C:5-a; RL 281-A:5-a5c)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
9.0 Other Coverages and Options 5% 9.1 Umbrella/excess liability policies Personal (DL 98 01) Commercial (CU 00 01) 9.2 Specialty liability insurance Errors and omissions Professional liability Directors and officers liability Fiduciary liability Liquor liability Employment practices liability Cyber security Identity theft 9.3 Surplus lines Definitions and markets Licensing requirements 9.4 Surety bonds Principal, obligee, surety Contract bonds License and permit bonds Judicial bonds 9.5 Aviation insurance Aircraft liability 9.6 Ocean marine insurance Protection and indemnity 9.7 Other policies Boatowners 9.8 Residual markets Joint underwriting or joint reinsurance associations (412:26)
Producer's Personal Lines Insurance
Series 12-86 100 questions - 2-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 11% 1.1 Licensing Process (402-J:5, 6) Types of licensees Producer (402-J:2, 14) Producer with appointment (402J:14) Business entity (402-J:6) Financial institutions (406-C:119) Resident versus nonresident (402J:8, 16) Temporary (402-J:11) Maintenance and duration Renewal (402-J:7(IIIV)) Change of address (402-J:7(VI)) Reporting of actions (402-J:17) Assumed names (402-J:10) Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a) Disciplinary actions Cease and desist order (417:12) Denial, suspension or revocation (402:49; 402-J:12) Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13) 1.2 State regulation
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Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referral (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.01 4301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 3001 3006)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
1.3 Federal regulation Fair Credit Reporting Act (15 USC 16811681d) Fraud and false statements (18 USC 1033, 1034) 2.0 General Insurance 11% 2.1 Concepts Risk management key terms Risk Exposure Hazard Peril Loss Methods of handling risk Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines
Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems 2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship Authority and powers of producers 2.4 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment
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Fraud Waiver and estoppel 3.0 Property and Casualty Insurance Basics 17% 3.1 Principles and concepts Insurable interest Underwriting Function Loss ratio Rates Types Loss costs Components Hazards Physical Moral Morale Negligence Elements of a negligent act Defenses against negligence Damages Compensatory -- special versus general Punitive Absolute liability Strict liability Vicarious liability Causes of loss (perils) Named perils versus special (open) perils Direct loss Consequential or indirect loss Blanket versus specific insurance
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Basic types of construction Loss valuation Actual cash value Replacement cost Functional replacement cost Market value Agreed value Stated amount 3.2 Policy structure Declarations Definitions Insuring agreement or clause Additional/supplementary coverage Conditions Exclusions Endorsements 3.3 Common policy provisions Insureds -- named, first named, additional Policy period Policy territory Cancellation and nonrenewal Deductibles Other insurance Nonconcurrency Primary and excess Pro rata Limits of liability Per occurrence (accident) Per person Split Combined single
Restoration/nonreduction of limits Coinsurance Vacancy or unoccupancy Named insured provisions Duties after loss Assignment Abandonment Insurer provisions Liberalization Subrogation Salvage Claim settlement options Duty to defend Third-party provisions Standard mortgage clause Loss payable clause No benefit to the bailee 3.4 New Hampshire laws, regulations and required provisions New Hampshire Valued Policy Law (407:11) New Hampshire Insurance Guaranty Association (404-B) Standard fire policy (407:12-a, 22) Cancellation and nonrenewal (417-B) Binders (407:6) Concealment, misrepresentation or fraud (407:22; RL 638:20) Claim settlement time limits (407:12, 12-a; Reg 1002.05) Record Retention (400-B)
4.0 Dwelling ('02) Policy 10% 4.1 Characteristics and purpose
72
4.2 Coverage forms -- Perils insured against Basic Broad Special 4.3 Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Fair rental value Coverage E -- Additional living expense Other coverages 4.4 General exclusions 4.5 Conditions 4.6 Selected endorsements Special provisions -- New Hampshire (DP 01 28) Automatic increase in insurance (DP 04 11) Dwelling under construction (DP 11 43)
5.0 Homeowners ('11) Policy 22% 5.1 Coverage forms HO-2 through HO-6 5.2 Definitions 5.3 Section I -- Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Loss of use Additional coverages
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
5.4 Section II -- Liability coverages
Coverage E -- Personal liability
Coverage F -- Medical payments to others
Additional coverages
5.5 Perils insured against
5.6 Exclusions
5.7 Conditions
5.8 Selected endorsements
Special provisions -- New Hampshire (HO 01 28)
Limited fungi, wet or dry rot, or bacteria coverage (HO 04 26, HO 04 27))
Permitted incidental occupancies (HO 04 42)
Earthquake (HO 04 54)
Scheduled personal property (HO 04 61)
Personal property replacement cost (HO 04 90)
Home day care (HO 04 97)
Business pursuits (HO 24 71)
Watercraft (HO 24 75)
Personal injury (HO 24 82)
Worker's Compensation
6.0 Auto Insurance 22%
6.1 Laws
New Hampshire Motor Vehicle Financial Responsibility Law
Required limits of liability (RL 259:61, 264:20)
New Hampshire Automobile Reinsurance Facility Plan (Reg 1405)
Uninsured/underinsured motorist (RL 264:15)
Definitions Bodily injury Required limits Cancellation/nonrenewal (417-A) Grounds Notice Notice of eligibility in Automobile Reinsurance Facility Plan (417A:5(V)) Residency statement (417-A:3-b; 1406.01) Medical costs coverage (RL 264:16) After-market parts regulation (407D) Coverage Deductible Waiver (417A:11) 6.2 Personal ('05) auto policy Definitions Liability coverage Bodily injury and property damage Supplementary payments Exclusions Medical payments Uninsured motorist / underinsured motorist coverage Coverage for damage to your auto Collision Other than collision Deductibles Transportation expense Exclusions Duties after an accident or loss General provisions Selected endorsements
73
Amendment of policy provisions -- New Hampshire (PP 01 76) Towing and labor costs (PP 03 03) Extended non-owned coverage -- vehicles furnished or available for regular use (PP 03 06) Miscellaneous type vehicle -- New Hampshire (PP 13 32) Joint ownership coverage -- New Hampshire (PP 13 34) 7.0 Other Coverages and Options 7% 7.1 Umbrella/excess liability policies Personal (DL 98 01) 7.2 National Flood Insurance Program "Write your own" versus government Eligibility Coverage Limits Deductibles 7.3 Other policies Boatowners
Producer's Credit Insurance Series 12-87 60 questions - 1-hour time limit Live Date: February 17, 2018
1.0 Insurance Regulation 10% 1.1 Licensing Process (402-J:5, 6)
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Types of licensees
Producer (402-J:2, 14)
Producer with appointment (402J:14)
Business entity (402-J:6)
Financial institutions (406-C:119)
Resident versus nonresident (402J:8, 16)
Temporary (402-J:11)
Maintenance and duration
Renewal (402-J:7(IIIV))
Change of address (402-J:7(VI))
Reporting of actions (402-J:17)
Assumed names (402-J:10)
Continuing education requirements (Reg 1302.03, 1302.04, 1304.03, RSA 402-J:7-a)
Disciplinary actions
Cease and desist order (417:12)
Denial, suspension or revocation (402:49; 402-J:12)
Penalties and fines (400-A:15(III); 402:42, 48; 402-J:12(IV); 417:10, 13)
1.2 State regulation
Commissioner's general duties and powers (400-A:3, 15; 417:5, 14)
Company regulation
Producer appointment (402-J:14)
Termination of appointment (402J:15)
Producer regulation
Acting without a license (402-J:3, 13)
Commissions (402-J:13)
Conversion of funds by producer (402:53)
Referrals (402:16-B)
Controlled business (402:74)
Fiduciary requirements (Reg 4301.014301.09)
License to transact business (402:12)
Unfair claim settlement practices (417:4(XV); Reg 1001.01.11, Reg 1002.01.20, Reg 1002.01-.21)
Unfair insurance trade practices
Misrepresentation (402:46; 417:4(I, II))
Twisting (402:47; 417:4(I))
False information and advertising (417:4(III))
Defamation (417:4(IV))
Boycott, coercion and intimidation (417:4(V))
Illegal inducement (417:4(VII))
Unfair discrimination (417:4(VIII))
Rebating (402:3941; 417:4(IX))
Examination of books and records (400-A:37)
Insurance fraud regulation (400A:36-b(II); 417:23; RL 638:20)
Consumer privacy regulation (Reg 30013006)
1.3 Federal regulation
Fair Credit Reporting Act (15 USC 16811681d)
Fraud and false statements (18 USC 1033, 1034)
2.0 General Insurance 9%
2.1 Concepts
Risk management key terms
Risk
Exposure
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Hazard Peril Loss Methods of handling risk Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies Fraternal benefit societies Reciprocals Lloyd's associations Risk retention groups Surplus lines Private versus government insurers Authorized versus unauthorized insurers Domestic, foreign and alien insurers Financial status (independent rating services) Marketing (distribution) systems 2.3 Producers and general rules of agency Insurer as principal Producer/insurer relationship
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
Authority and powers of producers 2.4 Contracts Elements of a legal contract Offer and acceptance Consideration Competent parties Legal purpose Distinct characteristics of an insurance contract Contract of adhesion Aleatory contract Personal contract Unilateral contract Conditional contract Legal interpretations affecting contracts Ambiguities in a contract of adhesion Reasonable expectations Indemnity Utmost good faith Representations/misrepresentations Warranties Concealment Fraud Waiver and estoppel
3.0 Consumer Credit Insurance Basics 40% 3.1 Nature of consumer credit insurance Parties involved Debtor/insured Creditor/beneficiary Insurer
Advantages for debtors and for creditors Markets Banks and savings and loan associations
Credit unions Finance companies Credit card companies Automobile dealers and manufacturers Retailers Types of credit covered -- closed-end versus open-end 3.2 Coverage characteristics Group versus individual coverage Underwriting considerations Eligibility of groups Underwriting of the debtor/insured (group and individual) Evidence of insurability Premiums Basis and payment of premiums Single premium versus monthly outstanding balance Group policy general provisions Right to examine (free look)
Grace period (408:16(I); 415:18(I)(p)) Incontestability (408:10; 408:16(II); 415:18(I)(r)) Entire contract (408:9; 408:16(III); 415:18(I)(a)) Conditions to require evidence of insurability (408:16(IV); 408-A:5) Certificate of insurance (408-A:6) Benefit payments Effect on insured's debt
75
Payment of excess benefits 3.3 Regulation New Hampshire regulation Approval of policy forms (408-A:7) Amounts to be insured (408-A:4) Term of insurance (408-A:5) Premium rates (408-A:8(I); Reg 1201.19) Premium refunds (408-A:8(II); Reg 1201.05) Solicitation (408-A:11; 408-B:19(1); Reg. 1201.04(b)) Evidence of coverage (408-A:6) Termination of group policy (Reg 1201.04(e)) Claims processing (408-A:10) Prohibited transactions (417:4(XVI); Reg 1201.15) Federal regulation Consumer Credit Protection Act (Truth-in-Lending Act)
4.0 Types of Consumer Credit Insurance 41% 4.1 Credit life insurance Eligibility of the individual insured Contributory versus non-contributory Gross coverage versus net payoff coverage Types of insurance coverages Decreasing term Level term Monthly outstanding balance Joint credit life Truncated life Suicide clause
N E W H A M P S H I R E I N S U R A N C E D E P A R T M E N T
4.2 Credit disability insurance Eligibility of the individual insured Qualifying for benefits Sickness or injury Definition of disability -- own occupation versus any occupation Total and permanent Elimination period Benefit period Benefit amount Special types of coverage Retroactive Critical period Common exclusions Intentionally self-inflicted injury Normal pregnancy 4.3 Credit involuntary unemployment insurance Eligibility of the individual insured Qualifying for benefits Definition of involuntary unemployment Elimination period Retroactive coverage Benefit period Benefit amount Excluded forms of unemployment 4.4 Other credit insurance Credit property Eligibility Insured event Benefit conditions Guaranteed automobile protection (GAP)
Eligibility Insured event Benefit conditions Mortgage guaranty
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Exam Registration Form
New Hampshire Insurance Examinations
To conveniently register online, please go to http://www.prometric.com/newhampshire/insurance.
Print or type clearly and neatly. Incomplete or illegible forms will not be processed.
Last Name
First Name
Middle Name
Residence Address (Your address of legal residence is required)
Date of Birth
City
State
ZIP Code
Employer (insurance company, if known)
E-mail address (applications without an email address may experience delays)
Daytime Phone Number (including
area code)
(
)
Evening Phone Number (including
area code)
(
)
Fax Number (including area code)
(
)
Series
Exam Title
Exam Fee
Total
12-61
Producer's Life Insurance
$50
$
12-62
Producer's Accident and Health Insurance
$50
$
12-63
Producer's Life, Accident and Health Insurance
$65
$
12-64
Producer's Property and Casualty Insurance
$65
$
12-72 12-73
Producer's Title Insurance Public Adjuster
$50
$
$50
$
12-75
Adjuster's Property and Casualty Insurance
$65
$
12-76
Adjuster's Workers' Compensation Insurance
$50
$
12-78 12-79
New Hampshire Life Insurance Laws and Regulations New Hampshire Accident and Health Insurance Laws and Regulations
$50
$
$50
$
12-80
New Hampshire Life, Accident and Health Insurance Laws and Regulations
$50
$
12-81
New Hampshire Property and Casualty Insurance Laws and Regulations
$50
$
12-83
12-84 12-85
New Hampshire Adjuster's Property and Casualty Insurance Laws and Regulations Producer's Property Insurance
Producer's Casualty Insurance
$50
$
$50
$
$50
$
12-86
Producer's Personal Lines Insurance
$50
$
12-87
Producer's Credit
$50
$
Total Fee $
By filing this registration, you assume full responsibility for exam selection. If you are unsure about which exam you need for the license you are seeking, resolve this question before you register. Fees for these exams are nonrefundable and non-transferrable. Exam fees are valid for 90 days from receipt at Prometric.
Please allow 7-10 business days for receipt and processing of your application. An authorized Prometric Client Service Representative will contact you by phone to obtain your social security number to complete the registration process. Once you have registered for your exam, you can schedule your exam appointment online or by phone.
Registration fees are not refundable. Fees may be paid by cashier's check, company check, money order, MasterCard , Visa or American Express. Make company checks, cashier's checks and money orders payable to Prometric. Please put your phone number on the check. Personal checks and cash are not accepted. To pay by credit card (when registering by mail or fax), please complete the Credit Card Payment Form on the next page and fax to 800.347.9242, or send this completed form along with the appropriate fee to:
Prometric ATTN: NH Insurance Exam Registration
7941 Corporate Drive Nottingham, MD 21236
76
Credit Card Payment Form
Print or type clearly. Incomplete or illegible forms will not be processed.
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MasterCard
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77
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