PERSONAL LINES BUNDLED EXAMS VERIFIED
QUESTIONS AND ANSWERS FULL SOLUTION
PACKAGE
◉ Risk. Answer: Chance or Uncertainty of a Loss
◉ Peril. Answer: Possible cause of a loss
◉ 2 Years. Answer: The Commissioner of insurance is appointed by
the governor for a term of ______ ending on February 1 of each odd-
numbered year?
◉ 5 Years. Answer: The Commissioner of insurance MUST have
________ of experience in business or government.
◉ $50,000. Answer: The Commissioner of insurance must provide a
__________ surety bond. (A surety bond guarantees performance)
◉ $500,000. Answer: The Commissioner of insurance requires state
fees in excess of _____________ to be submitted by electronic
transfer.
◉ 15 Days. Answer: The Commissioner of insurance requires that
persons must respond to commissioner inquires within_______ ?
,◉ 20 Days. Answer: Response from alleged violator must be within
______ of receipt?
◉ 14 Days. Answer: Department must send notice of violation within
_____ of finding?
◉ $25,000. Answer: Maximum penalty for insurance code violations?
◉ 18 Years Old. Answer: Minimum age for a license?
◉ 5 years. Answer: The waiting period to reapply if license is denied
or revoked?
◉ 90 Days. Answer: An Emergency License is valid for up to ___?
◉ 90 Days. Answer: An Emergency license may be renewed an
additional ____?
◉ 90 Days. Answer: A temporary license is valid for up to ___?
◉ 2 years. Answer: Business entity agent licenses are renewed every
______ after the license is issued?
,◉ 1 Year. Answer: If the license is expired for more than _______ all
requirements for a new license (including the exam) must be met?
◉ 90 Days. Answer: If a license has been expires for _________ or
less, it may be renewed by paying the renewal fee plus a 50% penalty.
◉ 90 Days. Answer: A license expired more than ______ but less than
one year cannot be renewed; a new license maybe issued with no
exam upon payment of license fee & penalty fee?
◉ Monthly Basis. Answer: Change in address, felony convictions, or
administrative actions must be reported to the commissioner on a
__________?
◉ 24 Hours. Answer: Total continuing education requirements?
◉ 2 Hours. Answer: Ethics & consumer protection continuing
education requirement?
◉ 3 hours. Answer: Flood insurance requires _____ certification
course?
◉ 4 years. Answer: Continuing education records must be kept for
_____?
, ◉ 25%. Answer: At least ____ of annual premiums must be derived
from persons other than the applicant, applicants family, & applicants
business associates.
◉ 60 Days. Answer: Approval of Rate & forms must be filed _____
before use?
◉ 30 Days. Answer: Binders must be replaced by the insurance policy
within ____?
◉ $15 million. Answer: Surplus lines insurer's capital & surplus must
be at least ______?
◉ 30 Days. Answer: Suspected fraudulent acts must be reported to the
commissioner or law enforcement within _____?
◉ 10 Days. Answer: ______ in advance for Homeowners Insurance
cancellation?
◉ 6 months. Answer: Texas FAIR (Fair Access to Insurance
requirements) provides residential property insurance when coverage
is unavailable in other markets or when there has been no insurance
on the property in the past ______?
◉ 30 Days. Answer: _________ in advance for a Nonrenewal?
QUESTIONS AND ANSWERS FULL SOLUTION
PACKAGE
◉ Risk. Answer: Chance or Uncertainty of a Loss
◉ Peril. Answer: Possible cause of a loss
◉ 2 Years. Answer: The Commissioner of insurance is appointed by
the governor for a term of ______ ending on February 1 of each odd-
numbered year?
◉ 5 Years. Answer: The Commissioner of insurance MUST have
________ of experience in business or government.
◉ $50,000. Answer: The Commissioner of insurance must provide a
__________ surety bond. (A surety bond guarantees performance)
◉ $500,000. Answer: The Commissioner of insurance requires state
fees in excess of _____________ to be submitted by electronic
transfer.
◉ 15 Days. Answer: The Commissioner of insurance requires that
persons must respond to commissioner inquires within_______ ?
,◉ 20 Days. Answer: Response from alleged violator must be within
______ of receipt?
◉ 14 Days. Answer: Department must send notice of violation within
_____ of finding?
◉ $25,000. Answer: Maximum penalty for insurance code violations?
◉ 18 Years Old. Answer: Minimum age for a license?
◉ 5 years. Answer: The waiting period to reapply if license is denied
or revoked?
◉ 90 Days. Answer: An Emergency License is valid for up to ___?
◉ 90 Days. Answer: An Emergency license may be renewed an
additional ____?
◉ 90 Days. Answer: A temporary license is valid for up to ___?
◉ 2 years. Answer: Business entity agent licenses are renewed every
______ after the license is issued?
,◉ 1 Year. Answer: If the license is expired for more than _______ all
requirements for a new license (including the exam) must be met?
◉ 90 Days. Answer: If a license has been expires for _________ or
less, it may be renewed by paying the renewal fee plus a 50% penalty.
◉ 90 Days. Answer: A license expired more than ______ but less than
one year cannot be renewed; a new license maybe issued with no
exam upon payment of license fee & penalty fee?
◉ Monthly Basis. Answer: Change in address, felony convictions, or
administrative actions must be reported to the commissioner on a
__________?
◉ 24 Hours. Answer: Total continuing education requirements?
◉ 2 Hours. Answer: Ethics & consumer protection continuing
education requirement?
◉ 3 hours. Answer: Flood insurance requires _____ certification
course?
◉ 4 years. Answer: Continuing education records must be kept for
_____?
, ◉ 25%. Answer: At least ____ of annual premiums must be derived
from persons other than the applicant, applicants family, & applicants
business associates.
◉ 60 Days. Answer: Approval of Rate & forms must be filed _____
before use?
◉ 30 Days. Answer: Binders must be replaced by the insurance policy
within ____?
◉ $15 million. Answer: Surplus lines insurer's capital & surplus must
be at least ______?
◉ 30 Days. Answer: Suspected fraudulent acts must be reported to the
commissioner or law enforcement within _____?
◉ 10 Days. Answer: ______ in advance for Homeowners Insurance
cancellation?
◉ 6 months. Answer: Texas FAIR (Fair Access to Insurance
requirements) provides residential property insurance when coverage
is unavailable in other markets or when there has been no insurance
on the property in the past ______?
◉ 30 Days. Answer: _________ in advance for a Nonrenewal?
