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Practice questions for this set
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An Offer and Acceptance
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1 Minimum age for producer license 2 Consumer report definition
What is must exist for an insurance
3 4 Ethics education hours
policy to happen?
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Terms in this set (134)
, Minimum age for producer license 18 years old required to apply.
License renewal period Every 4 years for producers.
Temporary license duration Maximum of 180 days allowed.
Continuing education requirement 48 hours every 4 years needed.
Ethics education hours 6 hours required in continuing education.
Reinstatement period for lapsed 1 year to reinstate after lapse.
license
Reapplication waiting period 1 year
Maximum revocation period 12 months.
Record retention period Producers must keep records for 3 years.
Merchandise value limit Maximum value of $25 in merchandise,
promotional items or prizes
Insurer examinations by DOI must Every 5 years
happen at least
Individual license expiration Expires on final day of birthday month - must be
renewed every 4 years
Consumer report definition Information on a consumer's credit, character and
habits.