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