Exam (elaborations)
TX - LAH05 - GENERAL LINES - LIFE, ACCIDENT, AND HEALTH
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TX - LAH05 - GENERAL LINES - LIFE, ACCIDENT, AND HEALTH
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TX - LAH05 - GENERAL LINES - LIFE, ACCIDENT, ANDHEALTH
· A newly license General Lines agent must complete a MINIMUM of___ hours of
continuing education within ___ months after initial license. - Answers-24
· Insurance agent licenses normally must be renewed every __ years. - Answers-2
· An agent must include a statement that _________ are not guaranteed during a sales
presentation for a participating life insurance policy. - Answers-Dividends
Dividend - Answers-a partial return of premium to the insured based on the insurer's
financial performance or on the insured's own loss experience. Insurers cannot legally
guarantee the payment of dividends.
An applicant for an agent's license must be... - Answers-honest, trustworthy, and
reliable.
An agent who tells claimants that their rights may be impaired if they fail to complete a
release form within a given period could be guilty of ____. - Answers-Coercion
Coercion - Answers-Persuading someone to do something by using force or threats.
The Insurance Commissioner may examine the records of an insurance company in
order to determine the ___________ of the company - Answers-Solvency
Insurance solvency - Answers-is a company's ability to be able to meet the obligations
they face when it comes to making payments on claims for insurance policies.
The Commissioner of Insurance does NOT have the power and duty to activate
insurance company's _________ ________. - Answers-financial reserves.
Financial Reserves - Answers-funds set aside such as profits for unexpected
events/situations. Covers scheduled, routine and unscheduled expenses that would
otherwise be drawn from general funds.
The Commissioner of Insurance may issuer a temporary agents license for a maximum
of ___ days. - Answers-90
The Commissioner of Insurance may suspend, revoke, or refuse to renew the license of
an agent who is.. - Answers-found guilty of misrepresentation or fraud in obtaining the
license.
Before holding a hearing regarding an agent's unfair or deceptive practice, the
Insurance Commissioner MUST give ___ days' notice. - Answers-30
, An insurance company MUST use ________________________ in its advertising. -
Answers-its true corporate name
· If an insurance company is organized under the laws of New Jersey and licensed to do
business here, it is considered a _______ _______ in Texas. - Answers-foreign
company
In Texas, a domestic insurance company is defined as a company that... - Answers-is
incorporated and formed in Texas.
Under Texas Insurance Law, the term "transacting business" includes... - Answers-
collecting premiums
An agent who tells a client that dividends are guaranteed may be guilty of _____. -
Answers-misrepresentation
An agent may legally share commissions only with.... - Answers-another agent who is
licensed in the same line of insurance.
An agent whose license has been revoked is required to wait at.... - Answers-least five
years before applying for a new license.
An insurance company must send a notice of the termination to the.... - Answers-Texas
Department of Insurance
The Commissioner of Insurance - Answers-oversees the regulation of insurance in the
state and administers the worker's compensation system. Protects the insurance
industry fairly and diligently, promoting a stable and competitive market.
Insurance company agent appointments remain in force..... - Answers-until withdrawn or
terminated
· An insurer must provide an insured with claim forms within ___ days after receiving
notice of a loss. - Answers-15
· An insurance company normally has 2 years to contest information provided on an
accident and health application. This 2-year period begins ... - Answers-on the date that
the insurer dates the policy.
_______ ______ ____ is NOT defined as doing Insurance Business. - Answers-Selling
mutual funds
Under the Texas Insurance code, an insurance company must pay death benefits for
suicide if the policy has been in force for... - Answers-MINIMUM 2 years
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