State RegulationsAZ specificDifficulty 2/5
A DIFI examiner arrives at a Scottsdale agency and asks to review the producer's records of insurance transactions. Under A.R.S. 20-290, what must the producer do?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
A.R.S. 20-290 requires producers to keep and preserve records of their insurance transactions and to make them available to the Director for examination; A.R.S. 20-157 similarly supports the Director's access to insurer records maintained in this state. The records must be produced in an examination — they cannot be shielded behind process or reduced to a summary.
Why the other options are wrong
- A) An examination by the Director under A.R.S. 20-290 does not require a court subpoena.
- B) A self-prepared summary is not the transaction records the Director is entitled to inspect.
- D) The examination obligation runs to the Director, not to the insurer alone.
Memory hook
Keep the books, show the books: A.R.S. 20-290 opens the files to the Director.