Long Term Care Certification Practice Test 2025 – The All-in-One Guide to Excel in Your Certification!

Question: 1 / 400

Rates must be filed with and approved by which government body?

Federal Insurance Administration

State Department of Insurance

The requirement for rates to be filed with and approved by a government body is primarily under the jurisdiction of the State Department of Insurance. Each state has its own department responsible for the regulation of insurance within that state, ensuring that the rates charged by insurance companies are fair and not discriminatory. This regulation includes oversight of premium rate changes, allowing for consumer protection against unreasonable price hikes.

In many states, insurance companies must submit their proposed rates for review and approval before they can be implemented. This process is designed to ensure that rates are actuarially sound and compliant with state laws. The other options listed, while related to different areas of oversight and regulation, do not have the specific role of approving insurance rates.

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National Insurance Board

Department of Health and Human Services

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