To determine whether unfair trade practices have been violated, who has the power to examine a licensee's books and records?

The National Association of Insurance Commissioners (NAIC) is a collective of state insurance regulators that develops model laws and regulations but does not have direct authority to examine the books of individual licensees. Instead, it serves more as a coordinating body to promote uniformity among state regulations rather than exercising regulatory power over licensees.

The Federal Deposit Insurance Corporation (FDIC) primarily oversees and insures deposits at banks and savings institutions, not insurance companies. Its role does not extend to examining the records of insurance licensees; thus, it lacks the authority in matters pertaining to unfair trade practices within the insurance sector.

The Virginia Insurance Guaranty Association is an organization that protects policyholders in the event of an insurance company’s insolvency. While it plays a vital role in ensuring consumer protection, it does not have the regulatory authority to examine the books and records of licensees for unfair trade practices.