Texas Life & Health State Laws Chapter 14 Exam with Questions and Solutions

Texas Life & Health State Laws Chapter 14 Exam with Questions and Solutions How do you terminate an agent's appointment? ANSWER To terminate an agent's appointment, the insurance company must send notice to the Texas Department of Insurance. When does an agent appointment end? ANSWER Agent appointments remain in force until they are terminated or withdrawn. What does a renewal license issued to an agent authorize he/she to do? ANSWER A renewal license issued to an agent authorizes the agent to represent and act for all insurers for which the agent is appointed. Does the appointment for a licensed agent need to be renewed? ANSWER An appointment continues in effect without the necessity of renewal. When can a licensed agent being transacting insurance as an agent? ANSWER Licensed agents are not permitted to transact insurance as an agent until they have been appointed by an insurer authorized to transact insurance in this state. The agent and the insurer involved must notify the department, on a form prescribed by the department with a nonrefundable fee, no more than 30 days from the effective date of the appointment of any additional appointment authorizing the agent to act as an agent for one or more additional insurers. Can an agent represent and act as an agent for multiple insurers? ANSWER Yes. An agent may represent and act as an agent for multiple insurers.