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11 - Texas Laws and Rules Pertinent to Insurance QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+ $12.99   Add to cart

Exam (elaborations)

11 - Texas Laws and Rules Pertinent to Insurance QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+

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  • Course
  • TEXAS PROPERTY AND CASUALTY
  • Institution
  • TEXAS PROPERTY AND CASUALTY

11 - Texas Laws and Rules Pertinent to Insurance QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+

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  • November 1, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • TEXAS PROPERTY AND CASUALTY
  • TEXAS PROPERTY AND CASUALTY
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Ashley96
11 - Texas Laws and Rules Pertinent to
Insurance

1. ____ of continuing education MUST be completed in the classroom or classroom
equivalent:
2. - 20%
3. - 50%
4. - 80%
5. - 100% - ANS-50%
6. A certificate of ____ permits an insurance company to transact business in Texas
7. - authenticity
8. - admission
9. - permission
10. - authority - ANS-authority
11. A domestic insurance company in TX is considered a company that?
12. - own real estate in TX
13. - write insurance on risks located only in TX
14. - is incorporated and formed in TX
15. - honors the charter of the national association of insurance commissioners (naic) -
ANS-is incorporated and formed in TX
16. A foreign insurance company conducting insurance business in TX:
17. - is not subject to TX insurance laws
18. - was formed under the laws of another state
19. - was formed under the laws of another country
20. - is only authorized to write business outside the US - ANS-was formed under the laws of
another state
21. A license may be denied, suspended, or revoked if the licensee:
22. - engages in replacement of an existing policy
23. - is found guilty of misrepresentation in obtaining the license
24. - files for bankruptcy
25. - fails to meet a sales quota - ANS-is found guilty of misrepresentation in obtaining the
license
26. A new general property and casualty licensee must complete at LEAST ____ hours of
continuing education within 24 months of initial licensure - ANS-24
27. A promotional advertising item is not considered a rebate unless it has a value equal to
or less than what amount?
28. - $50
29. - $25
30. - $100

, 31. - $10 - ANS-$25
32. A temporary agent's license issued by the commissioner of insurance is valid for up to
___ days:
33. - 60
34. - 90
35. - 120
36. - 180 - ANS-90
37. ABC Insurance Company is actively engaging in boycott, coercion, and intimidation that
results in the unreasonable restraint of trade. ABC is committing a prohibited act under
Texas insurance laws covering:
38. - twisting
39. - false advertising
40. - rebating
41. - unfair methods of competition - ANS-unfair methods of competition
42. All of these statements about the Commissioner of Insurance are true EXCEPT
43. - The Commissioner must be elected
44. - The Commissioner regulates the business of insurance in this state
45. - The Commissioner ensures that TX insurance laws are executed
46. - The Commissioner protects and ensures the fair treatment of consumers - ANS-The
Commissioner must be elected
47. An employee is covered under a company group life plan with a $50,000 death benefit.
What is the MAXIMUM amount a spouse may be insured for under this program?
48. - $10,000
49. - $25,000
50. - $40,000
51. - $50,000 - ANS-$25,000
52. An example of an unfair claims settlement practice is:
53. - making it mandatory that proof of loss be provided for each claim
54. - requiring a time limit for submitting a claim
55. - paying a claim in a timely matter
56. - turning down a claim without providing the basis of denial - ANS-turning down a claim
without providing the basis of denial
57. An example of false advertising would be:
58. - paid testimonials from celebrity endorsements
59. - an insurer exaggerating its dividends in a magazine advertisement
60. - a producer spending more than $25 on marketing gifts for a client
61. - an insurer advertising in an insurance trade journal - ANS-An insurer exaggerating its
dividends in a magazine advertisement
62. An example of rebating would be:
63. - returning a portion of a premium as inducement to purchase insurance
64. - advertising cheaper insurance rates than competitors
65. - a mutual insurance company paying dividends to its policyowners
66. - an offer of rated insurance coverage - ANS-returning a portion of a premium as
inducement to purchase insurance

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