Texas Property and casualty limited
lines insurance licensing CHP 1
1. -Violations of any insurance law
2. -The agent or ISR has knowingly deceived or defrauded a policyholder or insurance
applicant
3. -The agent or ISR has failed or neglected to remit any premium collected to the
insurance company. - ANS-List violations that can result in revocations of an agetns
license?
4. 10 hours - ANS-How many hours of continuing education is a limited lines agent required
to complete?
5. 24 hours - ANS-How many hours or continuing education must an agent meet before
their license renewal?
6. 25% - ANS-What percentage of an agetns sales must come from the general public?
7. 30 days - ANS-Agents must inform TDI if they change their address within how many
days?
8. 30 Days - ANS-Someone who has knowledge of a fraudulent act must report it in how
many days?
9. 4 Years - ANS-Agents must retain proof of continuing education for how long?
10. 50$ renewal fee - ANS-How much does an agent have to pay to renew their license?
11. 6 months - ANS-If an agent is terminated the company mus renew all policies issued by
the agent for how long?
12. 90 days - ANS-How long is term for a temporary agents license?
13. A corporate general lines P&C agency must meet additional requirements.
14. A.) it must be a corporation or partnership in good standing in any US state.
15. B.) At least one officer or partner and anyone's doing insurance business must hold and
appropriate Texas insurance agents license.
16. C.) The corporation or partnership must be able to pay up to 25,00$ bond payable to the
TDI or a 250,00$ errors omissions policy with a deductible of 10% or less. -
ANS-Corporate agency or partnership
17. A hearing in Travis County Court District after a 10 day notice from the insurance
department. - ANS-Before an agents license can get suspended or revoked they ar
entitled to what?
18. A nonresident agent resides outside the state of Texas and wishes to transact insurance
business within the state of Texas.
19. A.) a general lines agent license may be granted to nonresident provided the states
licensing requirements are similar to Texas' requirements and the state affords the same
privilege to Texas agents (reciprocity).
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 Ashley96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
