State RegulationsAZ specificDifficulty 2/5
A producer in Arizona wants to market her services under an assumed business name. Under A.R.S. 20-297, what must she do?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under A.R.S. 20-297, a producer who wants to transact under an assumed business name must register that name with the Arizona Department of Insurance and Financial Institutions before using it. Registration keeps the Department's records aligned with the identity the public actually sees, so the name must be on file before it goes on the door.
Why the other options are wrong
- B) Wrong because A.R.S. 20-297 requires registration of the assumed name before use; the choice of name is not unregulated.
- C) Wrong because assumed names are allowed for producers, provided they are registered under A.R.S. 20-297.
- D) Wrong because insurer approval is irrelevant; the registration duty runs to the Arizona Department of Insurance and Financial Institutions.
Memory hook
Fancy name? File it with DIFI before the first business card.