Texas Statutes and Rules Common to Life and Health Insurance Verified Solutions

Texas Statutes and Rules Common to Life and Health Insurance Verified Solutions How many hours of continuing education can be carried over from one licensing period to the next? ️0 An insurer that holds a Certificate of Authority in the state in which it transacts business is considered a/an ️Authorized insurer Which of the following is NOT true regarding a Certificate of Authority? ️It is issued to group insurance partcipants A temporary license holder can receive a commission from a sale made to all of the following EXCEPT ️The license sister-in-law An individual applies for a life policy. Two years ago he suffered a head injury from an accident, so he cannot remember parts of his past, but is otherwise competent. He has also been hospitalized for drug abuse, but does not remember this when applying for insurance. The insurer issues the policy and learns of his history one year later. What will probably happen? ️The policy will not be affected An agent licensed in Texas is moving to Kansas. Which of the following applies? ️The agent has 30 days to notify the department of Insurance of the new address When transacting business in this state an insurer formed under the laws of another country is known as a/an ️Alien When a producer was reviewing a potential customer's coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. The producer could be found guilty of ️Defamation The Commissioner of Insurance issues a Cease and Desist Order and immediately receives a request for the charges to be reviewed in a hearing. Within what number of days must the hearing be held? ️10 An agent receives an Emergency Cease and Desist Order for chronically misrepresenting his insurance policies. The agent knows that he did not commit the violations stated in the Emergency Cease and Desist Order. He wants to contest the charges in a court hearing. Which of the following is true? ️The hearing must be held 10 days of receiving a request, unless both parties agree on a later date All of the following would be considered an insurance transaction EXCEPT ️Obtaining an insurance license Which of the following must an insurer obtain in order to transact insurance within a given state? ️Certificate of authority An insurer advertises a health policy that is covered by the Life and Health Insurance Guaranty Association. The advertisement includes a short list of benefits and approximate rates. The end of the advertisement includes statement that protection is provided by the Guaranty Association. Which of the following is true? ️Mentoring the Guaranty Association in advertisement is considered to be unfair trade practice All of the following are true regarding rebates EXCEPT ️Rebates are allowed if it's in the best interest of the client All of the following are considered unfair or deceptive acts in connection with the sale of insurance EXCEPT ️Attempting to settle a claim in which liability is clear Who do agents represent? ️insurance company On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. The company is guilty of ️Misrepresentation An individual licensed as an agent must notify the Texas Department of Insurance, on a monthl