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BOB BROOKS PROPERTY & CAUSALITY EXAM QUESTIONS AND 100% CORRECT ANSWERS
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BOB BROOKS PROPERTY & CAUSALITY EXAM QUESTIONS AND 100%CORRECT ANSWERS
LICENSING - Answer to assure the public that only competent trustworthy individuals
and other entities sell insurance and to protect and promote the public interest
INSURANCE - Answer a contract under which one party undertakes to pay another
against loss of a specified contingency or peril.
producers license (individual or business entity)
surplus lines broker license (prop & casualty producers) - Answer LOUISIANA
DEPARTMENT OF INSURANCE ISSUES 2 LICENSES:
INSURANCE COMPANY - Answer Who is the Insurer?
CLIENT - Answer Who is the insured?
YOU (US) - Answer Who is the producer?
INDIVIDUAL PRODUCER - Answer Any individual who is required to be licensed under
Louisiana Law to solicit, negotiate, bind, procure or renew insurance.
BUSINESS ENTITY PRODUCER - Answer Any business entity required to be licensed
under LA law to solicit, sell, negotiate, bind, procure or renew insurance.
RESIDENT PRODUCER - Answer One who resides in LA or maintains a principal place of
business in LA.
, this license will be VOID if the licensee CEASES TO BE A RESIDENT OF LA
MUST SURRENDER LICENSE WITHIN 30 DAYS BY U.S MAIL OR IN PERSON
--Be at least 18 years old.
--Reside in or maintain their principal place of business in Louisiana.
--Give their insurance education and experience background.
shall not be disqualified for having committed any act that is grounds for denial,
suspension, or revocation of a license
has completed an approved prelicensing course for the lines of authority for which the
person has applied
has paid the fees
has passed the examination for the license applied for the lines of authority for which
the person has applied.
--Where applicable, provide the prior written consent of the Commissioner of Insurance,
pursuant to 18 U.S.C. 1033, or any successor statute regulating crimes by or affecting
persons engaged in the insurance business whose activities affect interstate
commerce. - Answer REQUIREMENTS TO GET PRODUCER'S LICENSE:
NONRESIDENT PRODUCER - A producer licensed in a state in which he is not a
resident. In most states, no exam is required to obtain a license. You simply must prove
that you are licensed and in good standing in your home state and pay the required fees.
You can only have one resident license but you can have 49 nonresident licenses if you
so desire.
(reciprocity) resident state issues to the other state and vise versa
TEMPORARY LICENSE - Answer THE COMMISSIONER OF INSURANCE may issue a ____
_____ for a period not to exceed 180 days without requiring an exam.
is currently licensed as a resident and in good standing in their state - Answer To be
granted a non-resident producers license, the producer:
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