NEWEST SOUTH CAROLINA PROPERTY AND CASUALTY
INSURANCE EXAM / ACTUAL SOUTH CAROLINA
PROPERTY AND CASUALTY INSURANCE EXAM LATEST
COMPLETE REAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (APPROVED SOLUTIONS) A NEW
UPDATED VERSION |ALREADY GRADED A
ISO - ANSWER: Insurance Service Office
To be licensed as a insurance producer in this state an individual must meet the
following minimum qualifications: - ANSWER: be at least 18 years old; Be of good
moral character; have not been convicted of any felony or crime for the last 10 years
that can be a ground for denial,suspension, or revocation of a license; Pass the
required license examination; Pay the license fee of $25.00
Agency license must contain - ANSWER: the licensee's name, address, personal
identification number, and the date of issuance, and any other information the
Director deems necessary
Unlimited Lines - ANSWER: Property, Casualty, Surety, Marine, Accident and Health,
Life, Variable Contracts.
Limited Lines - ANSWER: Credit Health, credit Property, Credit Life, Travel Baggage,
Any other credit insurance, Auto Physical Damage, Automobile Liability, Crop Hail,
Industrial Fire, Mortgage Guaranty, Title, Pre-need Burial
NIPR - ANSWER: National Insurance Producer Registry
Producer Appointment - ANSWER: the applicant must be appointed by a authorized
representative of the insurer.
Producer - ANSWER: sell, solicit, negotiate, or receive and deliver insurance policies
on behalf of the insurer.
Individual Producer - ANSWER: (Agent) Person who is authorized by an insurer to
represent it and to offer to the public insurance policies or contracts.
General Producer - ANSWER: has the authority to supervise producers and local
producers
Special Producer(or State Producer) - ANSWER: No authority to solicit from the
public, countersign policies, or receive commission, assist General Producer.
,Travel Accident - ANSWER: Sells only transportation ticket policies of accident and
health insurance or baggage insurance on personal effects.
NonResident - ANSWER: Currently licensed as a resident and in good standing in his
or her home state; Applying for the same line of authority as held in the home state;
Proper requests for licensure have been submitted and required fees have been
paid; the producer's home state awards nonresident insurance producer licenses to
residents of this state on the same basis.
Temporary License - ANSWER: Maximum period of 180 days; to the surviving spouse
or court-appointed personal representative of a licensed producer who dies or
becomes mentally or physically disabled; to a member or employee of a business
entity licensed as an insurance producer, upon the death or disability of an individual
designated in the business entity application or the license; to the designee of a
licensed insurance producer entering active service in the US armed forces; Except
for continuing education purposes, in any other circumstance that the Director
deems necessary.
Insurance Broker - ANSWER: may place insurance either with an eligible surplus lines
insurer or with a licensed insurance agent with an insurance carrier licensed in this
State (Insurance Shopper)
SLED report fee - ANSWER: $25.00
SLED report expires - ANSWER: 90 days
Notice of hearing - ANSWER: 30 days
Director will examine each authorized insurer - ANSWER: 5 years
Examiner files report with DOI regarding examination - ANSWER: 60 days
After examination report received by insurer, time to respond to DOI to request a
hearing. - ANSWER: 30 days
Director must give notice for hearing to insurer after examination - ANSWER: 20 days
Age to apply for license - ANSWER: 18 years old
Temporary license is valid - ANSWER: 180 days
To file with Director a producer's appointment - ANSWER: 15 days
Director MUST verify the insurance producer is ELIGIBLE for appointment - ANSWER:
30 days
, Director must notify the agency the producer is INELIGIBLE for appointment -
ANSWER: 5 days
Insurer to notify producer of appointment TERMINATION - ANSWER: 15 days
Insurer to notify DOI of TERMINATION of producer's appointment - ANSWER: 30 days
For producer to file written complaints with DOI about termination - ANSWER: 30
days
Reinstatement of license as long as fees and penalties (if any) are paid - ANSWER: 6
months
Biennial deadline to pay the appointment renewal fee - ANSWER: September 30
Continuing education required - ANSWER: 24 hours
Continuing education period - ANSWER: 2 years
CE credits required in ethics - ANSWER: 3 hours
CE requirement in line of authority - ANSWER: 8 hours (24)
CE credits that can be carried over - ANSWER: 18 hours
Individual producer appointment fee to be paid biennially - ANSWER: $40.00
General producer appointment fee to be paid biennially - ANSWER: $100.00
To report change of legal name or address - ANSWER: 30 days
Notice to suspend a producer's license by DOI - ANSWER: 10 days
To pay a penalty - ANSWER: 30 days
Producer may not reapplyfor a license if license is revoked or refused - ANSWER: 2
years
Period of time to keep all records - ANSWER: 5 years
Producer reports to Director any administrative action taken against him/her and
any criminal prosecution (in any jurisdiction) - ANSWER: 30 days
Imprisonment for failure to act in a fiduciary manner - ANSWER: 2 years
Bankruptcies-prohibited information in consumer reports - ANSWER: 10 years
INSURANCE EXAM / ACTUAL SOUTH CAROLINA
PROPERTY AND CASUALTY INSURANCE EXAM LATEST
COMPLETE REAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (APPROVED SOLUTIONS) A NEW
UPDATED VERSION |ALREADY GRADED A
ISO - ANSWER: Insurance Service Office
To be licensed as a insurance producer in this state an individual must meet the
following minimum qualifications: - ANSWER: be at least 18 years old; Be of good
moral character; have not been convicted of any felony or crime for the last 10 years
that can be a ground for denial,suspension, or revocation of a license; Pass the
required license examination; Pay the license fee of $25.00
Agency license must contain - ANSWER: the licensee's name, address, personal
identification number, and the date of issuance, and any other information the
Director deems necessary
Unlimited Lines - ANSWER: Property, Casualty, Surety, Marine, Accident and Health,
Life, Variable Contracts.
Limited Lines - ANSWER: Credit Health, credit Property, Credit Life, Travel Baggage,
Any other credit insurance, Auto Physical Damage, Automobile Liability, Crop Hail,
Industrial Fire, Mortgage Guaranty, Title, Pre-need Burial
NIPR - ANSWER: National Insurance Producer Registry
Producer Appointment - ANSWER: the applicant must be appointed by a authorized
representative of the insurer.
Producer - ANSWER: sell, solicit, negotiate, or receive and deliver insurance policies
on behalf of the insurer.
Individual Producer - ANSWER: (Agent) Person who is authorized by an insurer to
represent it and to offer to the public insurance policies or contracts.
General Producer - ANSWER: has the authority to supervise producers and local
producers
Special Producer(or State Producer) - ANSWER: No authority to solicit from the
public, countersign policies, or receive commission, assist General Producer.
,Travel Accident - ANSWER: Sells only transportation ticket policies of accident and
health insurance or baggage insurance on personal effects.
NonResident - ANSWER: Currently licensed as a resident and in good standing in his
or her home state; Applying for the same line of authority as held in the home state;
Proper requests for licensure have been submitted and required fees have been
paid; the producer's home state awards nonresident insurance producer licenses to
residents of this state on the same basis.
Temporary License - ANSWER: Maximum period of 180 days; to the surviving spouse
or court-appointed personal representative of a licensed producer who dies or
becomes mentally or physically disabled; to a member or employee of a business
entity licensed as an insurance producer, upon the death or disability of an individual
designated in the business entity application or the license; to the designee of a
licensed insurance producer entering active service in the US armed forces; Except
for continuing education purposes, in any other circumstance that the Director
deems necessary.
Insurance Broker - ANSWER: may place insurance either with an eligible surplus lines
insurer or with a licensed insurance agent with an insurance carrier licensed in this
State (Insurance Shopper)
SLED report fee - ANSWER: $25.00
SLED report expires - ANSWER: 90 days
Notice of hearing - ANSWER: 30 days
Director will examine each authorized insurer - ANSWER: 5 years
Examiner files report with DOI regarding examination - ANSWER: 60 days
After examination report received by insurer, time to respond to DOI to request a
hearing. - ANSWER: 30 days
Director must give notice for hearing to insurer after examination - ANSWER: 20 days
Age to apply for license - ANSWER: 18 years old
Temporary license is valid - ANSWER: 180 days
To file with Director a producer's appointment - ANSWER: 15 days
Director MUST verify the insurance producer is ELIGIBLE for appointment - ANSWER:
30 days
, Director must notify the agency the producer is INELIGIBLE for appointment -
ANSWER: 5 days
Insurer to notify producer of appointment TERMINATION - ANSWER: 15 days
Insurer to notify DOI of TERMINATION of producer's appointment - ANSWER: 30 days
For producer to file written complaints with DOI about termination - ANSWER: 30
days
Reinstatement of license as long as fees and penalties (if any) are paid - ANSWER: 6
months
Biennial deadline to pay the appointment renewal fee - ANSWER: September 30
Continuing education required - ANSWER: 24 hours
Continuing education period - ANSWER: 2 years
CE credits required in ethics - ANSWER: 3 hours
CE requirement in line of authority - ANSWER: 8 hours (24)
CE credits that can be carried over - ANSWER: 18 hours
Individual producer appointment fee to be paid biennially - ANSWER: $40.00
General producer appointment fee to be paid biennially - ANSWER: $100.00
To report change of legal name or address - ANSWER: 30 days
Notice to suspend a producer's license by DOI - ANSWER: 10 days
To pay a penalty - ANSWER: 30 days
Producer may not reapplyfor a license if license is revoked or refused - ANSWER: 2
years
Period of time to keep all records - ANSWER: 5 years
Producer reports to Director any administrative action taken against him/her and
any criminal prosecution (in any jurisdiction) - ANSWER: 30 days
Imprisonment for failure to act in a fiduciary manner - ANSWER: 2 years
Bankruptcies-prohibited information in consumer reports - ANSWER: 10 years
