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P&C - Producer Licensing questions with verified solutions(updated).
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P&C - Producer Licensing questions with verified solutions(updated).
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P&C -Producer
Licensing
questions
with
verified
, solutions(u
pdated)
Oklahoma Producer Licensing Act - answer sets forth the procedures for licensing
insurance producers and the qualifications for obtaining licenses. Its purpose is to
improve efficiency, permit the use of new technology, and reduce costs associated
with issuing and renewing insurance licenses.
Resident Producer License - answer -18 or older
-hasn't committed a crime that is grounds for license denial, suspension, or
revocations
-pay the required licensing fees
-pass the state examination for the lines of authority for which the application is
made
Insurance agency - answer may be licensed as a producer if:
-it pays the required licensing fees
-appoints a producer to be responsible for the business's compliance with state
insurance laws,
-maintains its principal place of business in Oklahoma
-certifies that none of its owners have had their producers' licenses revoked
Commissioner
Types of Licensee - answer life; accident and health/sickness; property; casualty;
variable life and variable annuity; personal lines; commercial lines; crop; credit;
title; travel; aircraft title; other lines of insurance permitted by law
Exempt from License - answer the commissioner may _____:
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