Exam (elaborations)
Personal lines Property & Casualty Questions with Solutions
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Personal lines Property & Casualty
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Personal lines Property & CasualtyRisk - answerChance or Uncertainty of a Loss
Peril - answerPossible cause of a loss
2 Years - answerThe Commissioner of insurance is appointed by the governor for a
term of ______ ending on February 1 of each odd-numbered year?
5 Years - answerThe Commissioner of insurance MUST have ________ of experience
in business or government.
$50,000 - answerThe Commissioner of insurance must provide a __________ surety
bond. (A surety bond guarantees performance)
$500,000 - answerThe Commissioner of insurance requires state fees in excess of
_____________ to be submitted by electronic transfer.
15 Days - answerThe Commissioner of insurance requires that persons must respond
to commissioner inquires within_______ ?
20 Days - answerResponse from alleged violator must be within ______ of receipt?
14 Days - answerDepartment must send notice of violation within _____ of finding?
$25,000 - answerMaximum penalty for insurance code violations?
18 Years Old - answerMinimum age for a license?
5 years - answerThe waiting period to reapply if license is denied or revoked?
90 Days - answerAn Emergency License is valid for up to ___?
90 Days - answerAn Emergency license may be renewed an additional ____?
90 Days - answerA temporary license is valid for up to ___?
2 years - answerBusiness entity agent licenses are renewed every ______ after the
license is issued?
1 Year - answerIf the license is expired for more than _______ all requirements for a
new license (including the exam) must be met?
,90 Days - answerIf a license has been expires for _________ or less, it may be
renewed by paying the renewal fee plus a 50% penalty.
90 Days - answerA 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 - answerChange in address, felony convictions, or administrative actions
must be reported to the commissioner on a __________?
24 Hours - answerTotal continuing education requirements?
2 Hours - answerEthics & consumer protection continuing education requirement?
3 hours - answerFlood insurance requires _____ certification course?
4 years - answerContinuing education records must be kept for _____?
25% - answerAt least ____ of annual premiums must be derived from persons other
than the applicant, applicants family, & applicants business associates.
60 Days - answerApproval of Rate & forms must be filed _____ before use?
30 Days - answerBinders must be replaced by the insurance policy within ____?
$15 million - answerSurplus lines insurer's capital & surplus must be at least ______?
30 Days - answerSuspected fraudulent acts must be reported to the commissioner or
law enforcement within _____?
10 Days - answer______ in advance for Homeowners Insurance cancellation?
6 months - answerTexas 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 - answer_________ in advance for a Nonrenewal?
$60,000 - answerBodily injury or death of 2 or more people _____?
$25,000 - answerProperty damage per accident?
30/60/25 - answerMinimum 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 - answerBodily injury or death of any 1 person?
$2,500 - answerMinimum PIP limits?
30 days - answerClaims must be paid within ____ after proof of claim?
3 years - answerCovers expenses incurred within _______ of accident?
90 days - answerCommercial auto policy may be cancelled for ANY reason within the
first _______ of the policy?
60 Days - answer______- in advance for a nonrenewal commercial auto insurance
policy?
10 days - answer_____- in advance to cancel a commercial auto insurance policy?
10 Days - answer_______ in advance for a personal auto cancellation
60 Days - answerPolicy may be canceled for any reason within the first ______ of a
personal auto policy?
30 Days - answer_______ in advance for a nonrenewal or cancellation on a 12-month
anniversary date.
8th Day - answerDisability Benefit payments do not begin until the _______?
2 - answerTAIPA (Texas Auto Insurance Plan Association) to qualify, applicants must
first be rejected by at least ____ insurers?
5 Days - answerAn 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 - answerIf disability lasts for __________ or longer, compensation for wages is
from the date disability began?
$10,000 - answerBurial costs are covered up to ________?
13 Consecutive weeks - answerAverage weekly wage is based on the prior
______________?
15 days - answerInsurers must begin benefit payments within _________ of notice?
8 Days - answerThe employer must notify the insurer within ______?
30 Days - answerThe employee must notify the employer within ________ after injury?
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