Exam (elaborations)

Texas Personal lines Property & Casualty Exam 2024 Questions with 100% Correct Answers

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Course
Texas Property and Casualty Insurance

Institution
Texas Property And Casualty Insurance

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Uploaded on June 28, 2024
Number of pages 26
Written in 2023/2024
Type Exam (elaborations)
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texas personal lines property casualty exam 2024

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Texas Personal lines Property & Casualty
Exam 2024 Questions with 100% Correct
Answers
Risk
Chance or Uncertainty of a Loss

Peril
Possible cause of a loss

2 Years
The Commissioner of insurance is appointed by the governor for a term of ______ ending on February
1 of each odd-numbered year?

5 Years
The Commissioner of insurance MUST have ________ of experience in business or government.

$50,000
The Commissioner of insurance must provide a __________ surety bond. (A surety bond guarantees
performance)

$500,000
The Commissioner of insurance requires state fees in excess of _____________ to be submitted by
electronic transfer.

15 Days
The Commissioner of insurance requires that persons must respond to commissioner inquires
within_______ ?

20 Days
Response from alleged violator must be within ______ of receipt?

14 Days
Department must send notice of violation within _____ of finding?

$25,000
Maximum penalty for insurance code violations?

18 Years Old
Minimum age for a license?

5 years
The waiting period to reapply if license is denied or revoked?

,90 Days
An Emergency License is valid for up to ___?

90 Days
An Emergency license may be renewed an additional ____?

90 Days
A temporary license is valid for up to ___?

2 years
Business entity agent licenses are renewed every ______ after the license is issued?

1 Year
If the license is expired for more than _______ all requirements for a new license (including the exam)
must be met?

90 Days
If a license has been expires for _________ or less, it may be renewed by paying the renewal fee plus
a 50% penalty.

90 Days
A 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
Change in address, felony convictions, or administrative actions must be reported to the
commissioner on a __________?

24 Hours
Total continuing education requirements?

2 Hours
Ethics & consumer protection continuing education requirement?

3 hours
Flood insurance requires _____ certification course?

4 years
Continuing education records must be kept for _____?

25%
At least ____ of annual premiums must be derived from persons other than the applicant, applicants
family, & applicants business associates.

, 60 Days
Approval of Rate & forms must be filed _____ before use?

30 Days
Binders must be replaced by the insurance policy within ____?

$15 million
Surplus lines insurer's capital & surplus must be at least ______?

30 Days
Suspected fraudulent acts must be reported to the commissioner or law enforcement within _____?

10 Days
______ in advance for Homeowners Insurance cancellation?

6 months
Texas 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
_________ in advance for a Nonrenewal?

$60,000
Bodily injury or death of 2 or more people _____?

$25,000
Property damage per accident?

30/60/25
Minimum 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
Bodily injury or death of any 1 person?

$2,500
Minimum PIP limits?

30 days
Claims must be paid within ____ after proof of claim?

3 years
Covers expenses incurred within _______ of accident?

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Exam (elaborations)

Texas Personal lines Property & Casualty Exam 2024 Questions with 100% Correct Answers

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