Personal lines Property & Casualty Exam with precise || || || || || || || ||
detailed solutions ||
Chance or Uncertainty of a Loss - ✔✔Risk
|| || || || || || ||
Possible cause of a loss - ✔✔Peril
|| || || || || ||
The Commissioner of insurance is appointed by the governor for a term of ______ ending
|| || || || || || || || || || || || || || ||
on February 1 of each odd-numbered year? - ✔✔2 Years
|| || || || || || || || ||
The Commissioner of insurance MUST have ________ of experience in business or
|| || || || || || || || || || || ||
government. - ✔✔5 Years || || ||
The Commissioner of insurance must provide a __________ surety bond. (A surety bond
|| || || || || || || || || || || || ||
guarantees performance) - ✔✔$50,000
|| || ||
The Commissioner of insurance requires state fees in excess of _____________ to be
|| || || || || || || || || || || || ||
submitted by electronic transfer. - ✔✔$500,000
|| || || || ||
The Commissioner of insurance requires that persons must respond to commissioner
|| || || || || || || || || || ||
inquires within_______ ? - ✔✔15 Days
|| || || || ||
Response from alleged violator must be within ______ of receipt? - ✔✔20 Days
|| || || || || || || || || || || ||
Department must send notice of violation within _____ of finding? - ✔✔14 Days
|| || || || || || || || || || || ||
,Maximum penalty for insurance code violations? - ✔✔$25,000
|| || || || || || ||
Minimum age for a license? - ✔✔18 Years Old || || || || || || || ||
The waiting period to reapply if license is denied or revoked? - ✔✔5 years
|| || || || || || || || || || || || ||
An Emergency License is valid for up to ___? - ✔✔90 Days
|| || || || || || || || || || ||
An Emergency license may be renewed an additional ____? - ✔✔90 Days
|| || || || || || || || || || ||
A temporary license is valid for up to ___? - ✔✔90 Days
|| || || || || || || || || || ||
Business entity agent licenses are renewed every ______ after the license is issued? - ✔✔2
|| || || || || || || || || || || || || || ||
years
If the license is expired for more than _______ all requirements for a new license (including
|| || || || || || || || || || || || || || ||
the exam) must be met? - ✔✔1 Year
|| || || || || || || ||
If a license has been expires for _________ or less, it may be renewed by paying the renewal
|| || || || || || || || || || || || || || || || ||
fee plus a 50% penalty. - ✔✔90 Days
|| || || || || || || ||
A license expired more than ______ but less than one year cannot be renewed; a new
|| || || || || || || || || || || || || || || ||
license maybe issued with no exam upon payment of license fee & penalty fee? - ✔✔90
|| || || || || || || || || || || || || || || ||
Days
Change in address, felony convictions, or administrative actions must be reported to the
|| || || || || || || || || || || || ||
commissioner on a __________? - ✔✔Monthly Basis || || || || || ||
,Total continuing education requirements? - ✔✔24 Hours
|| || || || || ||
Ethics & consumer protection continuing education requirement? - ✔✔2 Hours
|| || || || || || || || ||
Flood insurance requires _____ certification course? - ✔✔3 hours
|| || || || || || || ||
Continuing education records must be kept for _____? - ✔✔4 years
|| || || || || || || || || ||
At least ____ of annual premiums must be derived from persons other than the applicant,
|| || || || || || || || || || || || || || ||
applicants family, & applicants business associates. - ✔✔25%
|| || || || || || ||
Approval of Rate & forms must be filed _____ before use? - ✔✔60 Days
|| || || || || || || || || || || || ||
Binders must be replaced by the insurance policy within ____? - ✔✔30 Days
|| || || || || || || || || || || ||
Surplus lines insurer's capital & surplus must be at least ______? - ✔✔$15 million
|| || || || || || || || || || || || ||
Suspected fraudulent acts must be reported to the commissioner or law enforcement within
|| || || || || || || || || || || || ||
_____? - ✔✔30 Days || || ||
______ in advance for Homeowners Insurance cancellation? - ✔✔10 Days
|| || || || || || || || ||
Texas FAIR (Fair Access to Insurance requirements) provides residential property insurance
|| || || || || || || || || ||
when coverage is unavailable in other markets or when there has been no insurance on the
|| || || || || || || || || || || || || || || || ||
property in the past ______? - ✔✔6 months
|| || || || || || ||
, _________ in advance for a Nonrenewal? - ✔✔30 Days
|| || || || || || || ||
Bodily injury or death of 2 or more people _____? - ✔✔$60,000
|| || || || || || || || || || ||
Property damage per accident? - ✔✔$25,000
|| || || || ||
Minimum liability in Texas ($30,000 per person for bodily injury, $60,000 per accident for
|| || || || || || || || || || || || || ||
bodily injury, $25,000 for property damage of others) - ✔✔30/60/25
|| || || || || || || || ||
Bodily injury or death of any 1 person? - ✔✔$30,000
|| || || || || || || || ||
Minimum PIP limits? - ✔✔$2,500 || || || ||
Claims must be paid within ____ after proof of claim? - ✔✔30 days
|| || || || || || || || || || || ||
Covers expenses incurred within _______ of accident? - ✔✔3 years
|| || || || || || || || ||
Commercial auto policy may be cancelled for ANY reason within the first _______ of the
|| || || || || || || || || || || || || || ||
policy? - ✔✔90 days
|| || ||
______- in advance for a nonrenewal commercial auto insurance policy? - ✔✔60 Days
|| || || || || || || || || || || ||
_____- in advance to cancel a commercial auto insurance policy? - ✔✔10 days
|| || || || || || || || || || || ||
_______ in advance for a personal auto cancellation - ✔✔10 Days
|| || || || || || || || || ||
detailed solutions ||
Chance or Uncertainty of a Loss - ✔✔Risk
|| || || || || || ||
Possible cause of a loss - ✔✔Peril
|| || || || || ||
The Commissioner of insurance is appointed by the governor for a term of ______ ending
|| || || || || || || || || || || || || || ||
on February 1 of each odd-numbered year? - ✔✔2 Years
|| || || || || || || || ||
The Commissioner of insurance MUST have ________ of experience in business or
|| || || || || || || || || || || ||
government. - ✔✔5 Years || || ||
The Commissioner of insurance must provide a __________ surety bond. (A surety bond
|| || || || || || || || || || || || ||
guarantees performance) - ✔✔$50,000
|| || ||
The Commissioner of insurance requires state fees in excess of _____________ to be
|| || || || || || || || || || || || ||
submitted by electronic transfer. - ✔✔$500,000
|| || || || ||
The Commissioner of insurance requires that persons must respond to commissioner
|| || || || || || || || || || ||
inquires within_______ ? - ✔✔15 Days
|| || || || ||
Response from alleged violator must be within ______ of receipt? - ✔✔20 Days
|| || || || || || || || || || || ||
Department must send notice of violation within _____ of finding? - ✔✔14 Days
|| || || || || || || || || || || ||
,Maximum penalty for insurance code violations? - ✔✔$25,000
|| || || || || || ||
Minimum age for a license? - ✔✔18 Years Old || || || || || || || ||
The waiting period to reapply if license is denied or revoked? - ✔✔5 years
|| || || || || || || || || || || || ||
An Emergency License is valid for up to ___? - ✔✔90 Days
|| || || || || || || || || || ||
An Emergency license may be renewed an additional ____? - ✔✔90 Days
|| || || || || || || || || || ||
A temporary license is valid for up to ___? - ✔✔90 Days
|| || || || || || || || || || ||
Business entity agent licenses are renewed every ______ after the license is issued? - ✔✔2
|| || || || || || || || || || || || || || ||
years
If the license is expired for more than _______ all requirements for a new license (including
|| || || || || || || || || || || || || || ||
the exam) must be met? - ✔✔1 Year
|| || || || || || || ||
If a license has been expires for _________ or less, it may be renewed by paying the renewal
|| || || || || || || || || || || || || || || || ||
fee plus a 50% penalty. - ✔✔90 Days
|| || || || || || || ||
A license expired more than ______ but less than one year cannot be renewed; a new
|| || || || || || || || || || || || || || || ||
license maybe issued with no exam upon payment of license fee & penalty fee? - ✔✔90
|| || || || || || || || || || || || || || || ||
Days
Change in address, felony convictions, or administrative actions must be reported to the
|| || || || || || || || || || || || ||
commissioner on a __________? - ✔✔Monthly Basis || || || || || ||
,Total continuing education requirements? - ✔✔24 Hours
|| || || || || ||
Ethics & consumer protection continuing education requirement? - ✔✔2 Hours
|| || || || || || || || ||
Flood insurance requires _____ certification course? - ✔✔3 hours
|| || || || || || || ||
Continuing education records must be kept for _____? - ✔✔4 years
|| || || || || || || || || ||
At least ____ of annual premiums must be derived from persons other than the applicant,
|| || || || || || || || || || || || || || ||
applicants family, & applicants business associates. - ✔✔25%
|| || || || || || ||
Approval of Rate & forms must be filed _____ before use? - ✔✔60 Days
|| || || || || || || || || || || || ||
Binders must be replaced by the insurance policy within ____? - ✔✔30 Days
|| || || || || || || || || || || ||
Surplus lines insurer's capital & surplus must be at least ______? - ✔✔$15 million
|| || || || || || || || || || || || ||
Suspected fraudulent acts must be reported to the commissioner or law enforcement within
|| || || || || || || || || || || || ||
_____? - ✔✔30 Days || || ||
______ in advance for Homeowners Insurance cancellation? - ✔✔10 Days
|| || || || || || || || ||
Texas FAIR (Fair Access to Insurance requirements) provides residential property insurance
|| || || || || || || || || ||
when coverage is unavailable in other markets or when there has been no insurance on the
|| || || || || || || || || || || || || || || || ||
property in the past ______? - ✔✔6 months
|| || || || || || ||
, _________ in advance for a Nonrenewal? - ✔✔30 Days
|| || || || || || || ||
Bodily injury or death of 2 or more people _____? - ✔✔$60,000
|| || || || || || || || || || ||
Property damage per accident? - ✔✔$25,000
|| || || || ||
Minimum liability in Texas ($30,000 per person for bodily injury, $60,000 per accident for
|| || || || || || || || || || || || || ||
bodily injury, $25,000 for property damage of others) - ✔✔30/60/25
|| || || || || || || || ||
Bodily injury or death of any 1 person? - ✔✔$30,000
|| || || || || || || || ||
Minimum PIP limits? - ✔✔$2,500 || || || ||
Claims must be paid within ____ after proof of claim? - ✔✔30 days
|| || || || || || || || || || || ||
Covers expenses incurred within _______ of accident? - ✔✔3 years
|| || || || || || || || ||
Commercial auto policy may be cancelled for ANY reason within the first _______ of the
|| || || || || || || || || || || || || || ||
policy? - ✔✔90 days
|| || ||
______- in advance for a nonrenewal commercial auto insurance policy? - ✔✔60 Days
|| || || || || || || || || || || ||
_____- in advance to cancel a commercial auto insurance policy? - ✔✔10 days
|| || || || || || || || || || || ||
_______ in advance for a personal auto cancellation - ✔✔10 Days
|| || || || || || || || || ||
