State RegulationsAZ specificDifficulty 1/5
Which of the following best describes an assumed business name under Arizona producer licensing law?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under A.R.S. 20-297, an assumed business name is any name other than the producer's legal name under which the producer transacts business. Because the public may know the producer only by that other name, Arizona requires it to be registered with the Department so licensing records match the marketplace identity.
Why the other options are wrong
- A) Wrong because the Department does not assign assumed names; the producer chooses and registers its own under A.R.S. 20-297.
- B) Wrong because the legal name on the license is precisely what an assumed name is not; A.R.S. 20-297 covers the other name used in business.
- C) Wrong because producers routinely use assumed business names, subject to registration; the device is not reserved to insurers.
Memory hook
Assumed name = any name but your own, used on the job.