Exam (elaborations)
TEXAS INSURANCE EXAM QUESTIONS AND ANSWERS
- Course
- Institution
TEXAS INSURANCE EXAM QUESTIONS AND ANSWERS
[Show more]
Content preview
TEXAS INSURANCE EXAM QUESTIONSAND ANSWERS
How many hours of ethics continuing education must an agent complete in any 2-year
license period? A. 4 B. 5 C. 3 D. 2 - Answer-D
The commissioner has the power to
A. appoint a stock insurance company board of directors B. issue certificates of
authority to insurers C. authorize a mutual insurance company sale of stock D. write and
enact new legislation and statutes affecting the business of insurance - Answer-B
Written notices of reported violations must be sent within
A. 10 days B. 14 days C. 21 days D. 30 days - Answer-B
All of the following are correct regarding licensing requirements EXCEPT
A. the person must be at least 21 years old B. the state licensing examination must be
passed C. the person has submitted an application D. a non-refundable fee has been
paid - Answer-A
An agent licensed in Texas who moves from one state to another must file proof of
authorization to conduct business in the new state within how many days?
A. 10 B. 20 C. 30 D. 60 - Answer-C
A person who examines and assesses risk for persons seeking or renewing property
and casualty insurance is A. a reinsurer B. a surplus lines agent C. an insurance
counselor D. a risk manager - Answer-D
Insurance issued to Texas residents by companies not licensed to do business in Texas
would be classified as A. unlicensed insurance B. unauthorized insurance C. unlisted
entrance D. alien insurance - Answer-B
Agents who solicit and procure insurance for themselves, their families, and their
business associates (not for the general public) are said to engage in
A. rebating B. surplus lines Insurance C. controlled business D. unauthorized insurance
- Answer-C
At a minimum, the department must examine a carrier at least once every
A. 6 months B. year C. 5 years D. decade - Answer-C
Which of the following is a requirement for a temporary insurance license?
A. The applicant must complete a licensing course within 10 days of application filing.
B. The applicant must complete training supervised by an agent, insurer, or HMO.
C. The applicant must be sponsored by the Department.
D. The applicant must demonstrate high unethical standards. - Answer-B
, How many hours of continuing educations is an agent responsible to complete in any 2-
year license period?
A. 15
B. 24
C. None if licensed less than 5 years.
D. It depends on the agent's birth date. - Answer-B
Which of the following is an example of misrepresentation?
A. An agent convinces a prospect to replace his existing homeowners policy with a new,
more expensive policy that provides more coverage.
B. An insurer advertises a life insurance policy without mentioning that premiums may
be paid quarterly instead of annually.
C. An agent leads a buyer of an auto policy to believe that she will be covered when
driving others' cars when she will not.
D. An agent offers a housewarming present to anyone who purchases homeowners
insurance from him. - Answer-C
Making a misrepresentation to induce a policyholder to lapse a policy is considered
A. coercion
B. intimidation
C. rebating
D. twisting - Answer-D
In the event of a total loss by fire of real property, the policyholder is entitled to be paid
what amount?
A. The replacement value of the property
B. The full policy amount
C. The actual cash value of the property
D. The market value of the property - Answer-B
Which of the following acts is considered an unfair or deceptive act or practice?
A. Representing a binder as evidence of insurance
B. Encouraging an agent to sell only one type of businessowner's policy
C. Issuing policies at a higher premium rate for higher risk insureds
D. Providing for the payment of part of the agent's commission to the insured - Answer-
D
General duties of the Commissioner include all of the following EXCEPT
A. calculating reinsurance reserves
B. publishing results of insurance investigations
C. enacting new laws
D. reporting to the governor - Answer-C
Which of the following acts constitutes an unfair practice involving false advertising?
A. Accepting an applicant's signed application without collecting an initial premium
B. Hinting that a competing insurer is suffering a financial crisis
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller biggdreamer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82215 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now