Texas state Licensing exam geico
Study online at https://quizlet.com/_bd96ir
1. 15 calendar days How long does an insurer have
to acknowledge new claim.begin
investigation and req all items?
2. Article 21.55 What code was established to en-
sure prompt payment of a claim?
3. None How long does insured have to
complete the requirements that
the insurer has requested?
4. 15 Business Days How long does the insurer have
to evaluate/process/accept/reject
claim once all info recd from in-
sured?
5. 5 Business days How long does ins have to pay/is-
sue full/partial denial of claim
once evaluated?
6. 45 calendar days How long can an ins request for
additional time to evaluate/inves-
tigate the claim within the 15 busi-
ness day eval period?
7. Defamation Making an oral or written state-
ment that is false or maliciously
critical of, or derogatory to, the
financial condition of any insur-
er that is calculated to injure any
person engaged in the insurance
business
, Texas state Licensing exam geico
Study online at https://quizlet.com/_bd96ir
8. Fraud in obtaining coverage, failure to pay pre- Reasons an insurer can cancel
mium, increase in hazard, loss of insurers rein- policy after the 60 day initial policy
surance, or insurer conservatorship period?
9. No. Insurer can only non renew on 12 month Can an insurer non renew a policy
anniversary or later that is less than 1 year old?
10. At least 30 days from policy expiration and must How long of notice must insurer
be in writing give for nonrenewable of insured
property or liability policy
11. At least 10 days prior to the cancellation of a How long must insd give notice
liability policy. Must be at least 60 days before of policy cancellation for property
policy expires. and liability insurance
12. If insured filed 2 or more claims in preceding 3 When can insurer file a premium
policy years. surcharge?
13. If insured filed 3 or more claims under the 3 yr When can in insurer refuse to re-
pol period. Ins must notify ins in writing it will new policy due to claims?
happen at 2 claim point.
14. Dwelling Coverage for house, plumbing,
heating, ac and any other at-
tached structure or fixture. Does
not include lang
15. Other structures Detached garage, fence, mailbox,
sheds, driveways
16. 10% of coverage A Maximum amount you can pay for
Other structures coverage under
HO policy
, Texas state Licensing exam geico
Study online at https://quizlet.com/_bd96ir
17. Personal Property Contents coverage
18. Personal Property Coverage for shrubs, bushes,
plants, lawns
19. Loss of use Coverage for any additional ex-
penses you incur as a result of
temp living away from your home
20. $250 and total of 5% of Coverage A Tree limit
21. Does not apply Deductible clause and trees,
shrubs, plants and lawns
22. Fire or lightning, Explosion, aircraft, vehicles not Named perils for Trees, shrubs
owned or operated by residence of res premise, plants and lawns
vandalism, riot, and theft
23. Windstorm Trees, shrubs, plants and lawns
are not covered for
24. All risk for dwelling and named peril for personal What type of policy is an HO-B?
property
25. All risk Type of Coverage for Dwelling un-
der HO-B
26. Fire and lightning, sudden Acc damage from Named perils covered under per-
smoke, windstorm, hail, and hurricane, explo- sonal property (Coverage B) in
sion, aircraft and vehicles, vandalism, riot and HO-B policy
civil commotion, collapse of building, accidental
leakage from within HVAC or household appli-
ance, falling objects, freezing of household appli-
ances, theft (SEE EXCLUSIONS)
, Texas state Licensing exam geico
Study online at https://quizlet.com/_bd96ir
27. 1-electrical devices caused by electricity (not Personal Property Coverage B
lightning) exclusions (except caused by
2-smog or smoke from industrial or agricultural fire/smoke or explosion)
ops
3-windstowm/hail/hurricane damage to
cloth awnings, greenhouses, structures over wa-
ter
radio and tv towers (not sat dishes)
personal property in a building unless opening
in roof
of wall was caused
4-theft
5-while away from res except while an ins is temp
living there
6-building material not on premise
7-caused by mechanical breakdown
28. 1- wear and tear HO-B policy exclusions
2-rust or rot
3-dampness due to extreme temps
4-damage caused by insides animal
4-rats/mice/insects/moth damage
6-damage to Coverage A from cracking/settling
7-Flood
8-Freezing when building unocc unless reason-
able care taken
9-earthquake, landslide
10-government action
11- building laws
12-war
13-nuclear
Study online at https://quizlet.com/_bd96ir
1. 15 calendar days How long does an insurer have
to acknowledge new claim.begin
investigation and req all items?
2. Article 21.55 What code was established to en-
sure prompt payment of a claim?
3. None How long does insured have to
complete the requirements that
the insurer has requested?
4. 15 Business Days How long does the insurer have
to evaluate/process/accept/reject
claim once all info recd from in-
sured?
5. 5 Business days How long does ins have to pay/is-
sue full/partial denial of claim
once evaluated?
6. 45 calendar days How long can an ins request for
additional time to evaluate/inves-
tigate the claim within the 15 busi-
ness day eval period?
7. Defamation Making an oral or written state-
ment that is false or maliciously
critical of, or derogatory to, the
financial condition of any insur-
er that is calculated to injure any
person engaged in the insurance
business
, Texas state Licensing exam geico
Study online at https://quizlet.com/_bd96ir
8. Fraud in obtaining coverage, failure to pay pre- Reasons an insurer can cancel
mium, increase in hazard, loss of insurers rein- policy after the 60 day initial policy
surance, or insurer conservatorship period?
9. No. Insurer can only non renew on 12 month Can an insurer non renew a policy
anniversary or later that is less than 1 year old?
10. At least 30 days from policy expiration and must How long of notice must insurer
be in writing give for nonrenewable of insured
property or liability policy
11. At least 10 days prior to the cancellation of a How long must insd give notice
liability policy. Must be at least 60 days before of policy cancellation for property
policy expires. and liability insurance
12. If insured filed 2 or more claims in preceding 3 When can insurer file a premium
policy years. surcharge?
13. If insured filed 3 or more claims under the 3 yr When can in insurer refuse to re-
pol period. Ins must notify ins in writing it will new policy due to claims?
happen at 2 claim point.
14. Dwelling Coverage for house, plumbing,
heating, ac and any other at-
tached structure or fixture. Does
not include lang
15. Other structures Detached garage, fence, mailbox,
sheds, driveways
16. 10% of coverage A Maximum amount you can pay for
Other structures coverage under
HO policy
, Texas state Licensing exam geico
Study online at https://quizlet.com/_bd96ir
17. Personal Property Contents coverage
18. Personal Property Coverage for shrubs, bushes,
plants, lawns
19. Loss of use Coverage for any additional ex-
penses you incur as a result of
temp living away from your home
20. $250 and total of 5% of Coverage A Tree limit
21. Does not apply Deductible clause and trees,
shrubs, plants and lawns
22. Fire or lightning, Explosion, aircraft, vehicles not Named perils for Trees, shrubs
owned or operated by residence of res premise, plants and lawns
vandalism, riot, and theft
23. Windstorm Trees, shrubs, plants and lawns
are not covered for
24. All risk for dwelling and named peril for personal What type of policy is an HO-B?
property
25. All risk Type of Coverage for Dwelling un-
der HO-B
26. Fire and lightning, sudden Acc damage from Named perils covered under per-
smoke, windstorm, hail, and hurricane, explo- sonal property (Coverage B) in
sion, aircraft and vehicles, vandalism, riot and HO-B policy
civil commotion, collapse of building, accidental
leakage from within HVAC or household appli-
ance, falling objects, freezing of household appli-
ances, theft (SEE EXCLUSIONS)
, Texas state Licensing exam geico
Study online at https://quizlet.com/_bd96ir
27. 1-electrical devices caused by electricity (not Personal Property Coverage B
lightning) exclusions (except caused by
2-smog or smoke from industrial or agricultural fire/smoke or explosion)
ops
3-windstowm/hail/hurricane damage to
cloth awnings, greenhouses, structures over wa-
ter
radio and tv towers (not sat dishes)
personal property in a building unless opening
in roof
of wall was caused
4-theft
5-while away from res except while an ins is temp
living there
6-building material not on premise
7-caused by mechanical breakdown
28. 1- wear and tear HO-B policy exclusions
2-rust or rot
3-dampness due to extreme temps
4-damage caused by insides animal
4-rats/mice/insects/moth damage
6-damage to Coverage A from cracking/settling
7-Flood
8-Freezing when building unocc unless reason-
able care taken
9-earthquake, landslide
10-government action
11- building laws
12-war
13-nuclear
