Ohio Insurance Laws and Regulations Practice Exam

How often must the superintendent examine each domestic insurance company?

1. Every 2 years

2. Every 3 years

3. Every 5 years

4. Annually

The correct answer is: Every 3 years

The superintendent is responsible for examining domestic insurance companies on a regular basis to ensure their financial stability and compliance with regulations. Option A, every 2 years, may not provide enough oversight and a lot can change financially within that timeframe. Option C, every 5 years, is too long of a time period between examinations and could potentially lead to issues going unnoticed for too long. Option D, annually, may be too frequent and not allow for enough progress to be made in between examinations. Overall, option B provides a good balance of regular examinations without being too infrequent or too often.