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Property and Casualty Insurance EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS
2024/2025(VERIFIED ANSWERS) |ALREADY
GRADED A+
Financial Responsibility Law - .....ANSWER ...✔✔
drivers have proof that they have money to pay for
accident where they are at fault
fraud - .....ANSWER ...✔✔ lie planned to trick others
and make it leave other value
insolvency - .....ANSWER ...✔✔ you can't pay your
claim
mine subsidence - .....ANSWER ...✔✔ damage to
house (only) by cave in collapse of mine
negotiate - .....ANSWER ...✔✔ talk with prospective
client of set type of insurance about their benefits
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to negotiate you must be? - .....ANSWER ...✔✔
Licensed
sell - .....ANSWER ...✔✔ contract of insurance
solicit - .....ANSWER ...✔✔ try to sell insurance of any
type
a nonresident agent - .....ANSWER ...✔✔ does not
live in Ohio
how can you be a nonresident agent - .....ANSWER
...✔✔ submit the right application, be in good
standing, have resident license
how long do you have to notify of an address change? -
.....ANSWER ...✔✔ you have 30 days
when do you have to renew license by - .....ANSWER
...✔✔ every other year on or before the last day of
your birthday month
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how much is the fee to renew your license - .....ANSWER
...✔✔ the fee is 25 dollars
how many hours of CE courses do you have to have to
renew - .....ANSWER ...✔✔ 24 hours, 3 ethics
who proves you took CE - .....ANSWER ...✔✔ you do
how do you get an extension on your renewal -
.....ANSWER ...✔✔ military, disability, education
late renewal - .....ANSWER ...✔✔ within 2 months,
pay 50 dollar late fee
can you suspend license for nonrenewal - .....ANSWER
...✔✔ yes
if you want to change your insurance agent name you
must do what first - .....ANSWER ...✔✔ notify the
super of insurance
how long are temp licenses good for - .....ANSWER
...✔✔ 180 days
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how can you get temp license - .....ANSWER ...✔✔
agent disabled or dies, give to next in line
you can go inactive with insurance but you must not -
.....ANSWER ...✔✔ go on to sell insurance
how long must you be out of duty for inactive -
.....ANSWER ...✔✔ 2 years
go back active after 2 years? - .....ANSWER ...✔✔
notify super, pay 50 dollar fee
how can you get license taken away? - .....ANSWER
...✔✔ Fraud, fail to submit papers in time, misrep,
felony
violate law - .....ANSWER ...✔✔ up to 25,000 fee
with suspension
if you violate how long must you be out of business -
.....ANSWER ...✔✔ 5 years
Property and Casualty Insurance EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS
2024/2025(VERIFIED ANSWERS) |ALREADY
GRADED A+
Financial Responsibility Law - .....ANSWER ...✔✔
drivers have proof that they have money to pay for
accident where they are at fault
fraud - .....ANSWER ...✔✔ lie planned to trick others
and make it leave other value
insolvency - .....ANSWER ...✔✔ you can't pay your
claim
mine subsidence - .....ANSWER ...✔✔ damage to
house (only) by cave in collapse of mine
negotiate - .....ANSWER ...✔✔ talk with prospective
client of set type of insurance about their benefits
,2|Page
to negotiate you must be? - .....ANSWER ...✔✔
Licensed
sell - .....ANSWER ...✔✔ contract of insurance
solicit - .....ANSWER ...✔✔ try to sell insurance of any
type
a nonresident agent - .....ANSWER ...✔✔ does not
live in Ohio
how can you be a nonresident agent - .....ANSWER
...✔✔ submit the right application, be in good
standing, have resident license
how long do you have to notify of an address change? -
.....ANSWER ...✔✔ you have 30 days
when do you have to renew license by - .....ANSWER
...✔✔ every other year on or before the last day of
your birthday month
,3|Page
how much is the fee to renew your license - .....ANSWER
...✔✔ the fee is 25 dollars
how many hours of CE courses do you have to have to
renew - .....ANSWER ...✔✔ 24 hours, 3 ethics
who proves you took CE - .....ANSWER ...✔✔ you do
how do you get an extension on your renewal -
.....ANSWER ...✔✔ military, disability, education
late renewal - .....ANSWER ...✔✔ within 2 months,
pay 50 dollar late fee
can you suspend license for nonrenewal - .....ANSWER
...✔✔ yes
if you want to change your insurance agent name you
must do what first - .....ANSWER ...✔✔ notify the
super of insurance
how long are temp licenses good for - .....ANSWER
...✔✔ 180 days
, 4|Page
how can you get temp license - .....ANSWER ...✔✔
agent disabled or dies, give to next in line
you can go inactive with insurance but you must not -
.....ANSWER ...✔✔ go on to sell insurance
how long must you be out of duty for inactive -
.....ANSWER ...✔✔ 2 years
go back active after 2 years? - .....ANSWER ...✔✔
notify super, pay 50 dollar fee
how can you get license taken away? - .....ANSWER
...✔✔ Fraud, fail to submit papers in time, misrep,
felony
violate law - .....ANSWER ...✔✔ up to 25,000 fee
with suspension
if you violate how long must you be out of business -
.....ANSWER ...✔✔ 5 years
