CPCU 530 Practice Questions - CPCU 530 Applying Legal Concepts To Insurance Exam

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A claims adjuster wants to identify the type of law that establishes the powers of state insurance commissioners. Which source of U.S. law most directly grants an insurance department its regulatory authority?

Common law developed by judges Constitutional law alone Customary commercial practice Statutory law enacted by the legislature

Correct Answer:

Statutory law enacted by the legislature

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