Personal lines Property Casualty
questions with solutions
Risk - answersChance or Uncertainty of a Loss
Peril - answersPossible cause of a loss
2 Years - answersThe Commissioner of insurance is appointed by the governor for a
term of ______ ending on February 1 of each odd-numbered year?
5 Years - answersThe Commissioner of insurance MUST have ________ of experience
in business or government.
$50,000 - answersThe Commissioner of insurance must provide a __________ surety
bond. (A surety bond guarantees performance)
$500,000 - answersThe Commissioner of insurance requires state fees in excess of
_____________ to be submitted by electronic transfer.
15 Days - answersThe Commissioner of insurance requires that persons must respond
to commissioner inquires within_______ ?
20 Days - answersResponse from alleged violator must be within ______ of receipt?
14 Days - answersDepartment must send notice of violation within _____ of finding?
$25,000 - answersMaximum penalty for insurance code violations?
18 Years Old - answersMinimum age for a license?
5 years - answersThe waiting period to reapply if license is denied or revoked?
90 Days - answersAn Emergency License is valid for up to ___?
90 Days - answersAn Emergency license may be renewed an additional ____?
90 Days - answersA temporary license is valid for up to ___?
2 years - answersBusiness entity agent licenses are renewed every ______ after the
license is issued?
,1 Year - answersIf the license is expired for more than _______ all requirements for a
new license (including the exam) must be met?
90 Days - answersIf a license has been expires for _________ or less, it may be
renewed by paying the renewal fee plus a 50% penalty.
90 Days - answersA 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?
Monthly Basis - answersChange in address, felony convictions, or administrative
actions must be reported to the commissioner on a __________?
24 Hours - answersTotal continuing education requirements?
2 Hours - answersEthics & consumer protection continuing education requirement?
3 hours - answersFlood insurance requires _____ certification course?
4 years - answersContinuing education records must be kept for _____?
25% - answersAt least ____ of annual premiums must be derived from persons other
than the applicant, applicants family, & applicants business associates.
60 Days - answersApproval of Rate & forms must be filed _____ before use?
30 Days - answersBinders must be replaced by the insurance policy within ____?
$15 million - answersSurplus lines insurer's capital & surplus must be at least ______?
30 Days - answersSuspected fraudulent acts must be reported to the commissioner or
law enforcement within _____?
10 Days - answers______ in advance for Homeowners Insurance cancellation?
6 months - answersTexas 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 ______?
30 Days - answers_________ in advance for a Nonrenewal?
$60,000 - answersBodily injury or death of 2 or more people _____?
$25,000 - answersProperty damage per accident?
, 30/60/25 - answersMinimum liability in Texas ($30,000 per person for bodily injury,
$60,000 per accident for bodily injury, $25,000 for property damage of others)
$30,000 - answersBodily injury or death of any 1 person?
$2,500 - answersMinimum PIP limits?
30 days - answersClaims must be paid within ____ after proof of claim?
3 years - answersCovers expenses incurred within _______ of accident?
90 days - answersCommercial auto policy may be cancelled for ANY reason within the
first _______ of the policy?
60 Days - answers______- in advance for a nonrenewal commercial auto insurance
policy?
10 days - answers_____- in advance to cancel a commercial auto insurance policy?
10 Days - answers_______ in advance for a personal auto cancellation
60 Days - answersPolicy may be canceled for any reason within the first ______ of a
personal auto policy?
30 Days - answers_______ in advance for a nonrenewal or cancellation on a 12-month
anniversary date.
8th Day - answersDisability Benefit payments do not begin until the _______?
2 - answersTAIPA (Texas Auto Insurance Plan Association) to qualify, applicants must
first be rejected by at least ____ insurers?
5 Days - answersAn employee may waive being covered by workers compensation
(retain the right to sue the employer for injuries) if notice is given within ________ of
being hired?
2 weeks - answersIf disability lasts for __________ or longer, compensation for wages
is from the date disability began?
$10,000 - answersBurial costs are covered up to ________?
13 Consecutive weeks - answersAverage weekly wage is based on the prior
______________?
15 days - answersInsurers must begin benefit payments within _________ of notice?
questions with solutions
Risk - answersChance or Uncertainty of a Loss
Peril - answersPossible cause of a loss
2 Years - answersThe Commissioner of insurance is appointed by the governor for a
term of ______ ending on February 1 of each odd-numbered year?
5 Years - answersThe Commissioner of insurance MUST have ________ of experience
in business or government.
$50,000 - answersThe Commissioner of insurance must provide a __________ surety
bond. (A surety bond guarantees performance)
$500,000 - answersThe Commissioner of insurance requires state fees in excess of
_____________ to be submitted by electronic transfer.
15 Days - answersThe Commissioner of insurance requires that persons must respond
to commissioner inquires within_______ ?
20 Days - answersResponse from alleged violator must be within ______ of receipt?
14 Days - answersDepartment must send notice of violation within _____ of finding?
$25,000 - answersMaximum penalty for insurance code violations?
18 Years Old - answersMinimum age for a license?
5 years - answersThe waiting period to reapply if license is denied or revoked?
90 Days - answersAn Emergency License is valid for up to ___?
90 Days - answersAn Emergency license may be renewed an additional ____?
90 Days - answersA temporary license is valid for up to ___?
2 years - answersBusiness entity agent licenses are renewed every ______ after the
license is issued?
,1 Year - answersIf the license is expired for more than _______ all requirements for a
new license (including the exam) must be met?
90 Days - answersIf a license has been expires for _________ or less, it may be
renewed by paying the renewal fee plus a 50% penalty.
90 Days - answersA 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?
Monthly Basis - answersChange in address, felony convictions, or administrative
actions must be reported to the commissioner on a __________?
24 Hours - answersTotal continuing education requirements?
2 Hours - answersEthics & consumer protection continuing education requirement?
3 hours - answersFlood insurance requires _____ certification course?
4 years - answersContinuing education records must be kept for _____?
25% - answersAt least ____ of annual premiums must be derived from persons other
than the applicant, applicants family, & applicants business associates.
60 Days - answersApproval of Rate & forms must be filed _____ before use?
30 Days - answersBinders must be replaced by the insurance policy within ____?
$15 million - answersSurplus lines insurer's capital & surplus must be at least ______?
30 Days - answersSuspected fraudulent acts must be reported to the commissioner or
law enforcement within _____?
10 Days - answers______ in advance for Homeowners Insurance cancellation?
6 months - answersTexas 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 ______?
30 Days - answers_________ in advance for a Nonrenewal?
$60,000 - answersBodily injury or death of 2 or more people _____?
$25,000 - answersProperty damage per accident?
, 30/60/25 - answersMinimum liability in Texas ($30,000 per person for bodily injury,
$60,000 per accident for bodily injury, $25,000 for property damage of others)
$30,000 - answersBodily injury or death of any 1 person?
$2,500 - answersMinimum PIP limits?
30 days - answersClaims must be paid within ____ after proof of claim?
3 years - answersCovers expenses incurred within _______ of accident?
90 days - answersCommercial auto policy may be cancelled for ANY reason within the
first _______ of the policy?
60 Days - answers______- in advance for a nonrenewal commercial auto insurance
policy?
10 days - answers_____- in advance to cancel a commercial auto insurance policy?
10 Days - answers_______ in advance for a personal auto cancellation
60 Days - answersPolicy may be canceled for any reason within the first ______ of a
personal auto policy?
30 Days - answers_______ in advance for a nonrenewal or cancellation on a 12-month
anniversary date.
8th Day - answersDisability Benefit payments do not begin until the _______?
2 - answersTAIPA (Texas Auto Insurance Plan Association) to qualify, applicants must
first be rejected by at least ____ insurers?
5 Days - answersAn employee may waive being covered by workers compensation
(retain the right to sue the employer for injuries) if notice is given within ________ of
being hired?
2 weeks - answersIf disability lasts for __________ or longer, compensation for wages
is from the date disability began?
$10,000 - answersBurial costs are covered up to ________?
13 Consecutive weeks - answersAverage weekly wage is based on the prior
______________?
15 days - answersInsurers must begin benefit payments within _________ of notice?
