Under the provisions of the Gramm-Leach-Bliley Act, all of the following are true except:
A) state insurance commissioners oversee insurers operating in their state
B) within a financial services holding company, insurance records must be kept separate from other financial records
C) only licensed insurance agents can receive commissions for insurance sales
D) state insurance commissioners and the Federal Reserve jointly oversee the banking activities of insurer-owned banks
D
You might also like to view...
Po Hung gives a cheque for $10,000 to Connected Construction Inc as a down payment on a renovation project to his building. Connected Construction signs the cheque over to its bank to pay a bank loan of $10,000
Connected Construction only does $5,000 worth of the work and disappears. The bank has cashed the cheque and the full $10,000 has been taken out of Po Hung's account. Which of the following is true? A) Po Hung can recover $10,000 from the bank. B) Po Hung can recover $5,000 from the bank C) Po Hung can recover nothing from the bank D) The bank and Po Hung must split the loss of $5,000 equally E) Po Hung cannot successfully sue Connected Construction Inc. for any money
The pay of which one of the following groups of workers would be least likely to be influenced by regional or national labor markets?
(a) engineers (b) clerical (c) skilled trades (d) technicians