VT Property & Casualty Practice Questions - Vermont Property & Casualty Insurance Exam

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A Vermont producer is disciplined by another state insurance department. What is the safest compliance response regarding DFR?

Wait until Vermont renewal to disclose it Disclose only if a customer complains in Vermont Report the administrative action to DFR promptly, generally within 30 days No report is needed because it happened outside Vermont

Correct Answer:

Report the administrative action to DFR promptly, generally within 30 days

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