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Exam (elaborations)

Group 1 Exam Questions and answers latest update

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Group 1 Exam Questions and answers latest update Which of the following is not a duty of the Commissioner? A Issue an insurance license for a producer B Make state insurance laws C Handle insurance-related consumer complaints D Enforce state insurance laws B The Commissioner ...

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  • June 27, 2024
  • 15
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
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Group 1 Exam Questions and answers latest
update
Which of the following is not a duty of the Commissioner?

A
Issue an insurance license for a producer

B
Make state insurance laws

C
Handle insurance-related consumer complaints

D
Enforce state insurance laws
B


The Commissioner may examine the records of an insurance company for the purpose of:

A
Approving coverages

B
Approving claims

C
Setting rates

D
Determining solvency
D


The Commissioner is authorized to perform all of the following duties, except:

A
Adopt reasonable rules and regulations to enforce insurance laws

B
Suspend insurance licenses for up to 5 years

C
Issue cease and desist orders

D
Conduct investigations
B (can suspend for 1 yr)


A Certificate of Authority is issued to an insurer for which of the following reasons?

A
It recognizes the insurer for excellence in handling claims

B

, It certifies the insurer is authorized to transact insurance in this state

C
It certifies the insurer has passed a market conduct exam in this state

D
It certifies the agent is authorized to transact insurance in this state
B


Which of the following is NOT transacting insurance?

A
Selling stocks, bonds, and mutual funds

B
Delivering an insurance contract

C
Collecting an insurance payment

D
Indirectly acting as an agent
A


According to the Texas Insurance Code, an insurance company incorporated in New Mexico is a(n):

A
Domestic insurer

B
Admitted insurer

C
Foreign insurer

D
Alien insurer
C


Which type of insurance company is owned by its policyholders?

A
Stock insurer

B
Admitted insurer

C
Mutual insurer

D
Non-admitted insurer
C

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