UT Property & Casualty Insurance Producer Exam (A+ GRADED)

Someone who is eligible to become a Consultant if he or she has how many years of related experience? correct answers At least 3 years of experience in the last 4 years What is a fiduciary? correct answers Someone who is trusted with someone else's money What level of education does someone need to become a licensed insurance producer in Utah? correct answers No education is required What type of agreement does UT have with other states that allows a non-resident licensed producer to obtain a Utah license without having to take the UT insurance exam?? correct answers Reciprocal agreement The records of insurance transactions that a licensee keeps must be available for the Commissioner to inspect during business hours for at least how long? correct answers The rest of the current calendar year plus 3 years A party in an insurance contract has engaged in misrepresentation if he or she has done what? correct answers Lied or provided information that is untrue or misleading An insurance shall maintain a complete and accurate record of the forms it uses for how long? correct answers The balance of the current year plus 5 years What are the 3 types of insurance licensed for UT residents ? correct answers Producer, consultant, adjuster For up to how long may the Commissioner suspend an insurance license? correct answers 1 years Up to what amount of payment or gift to a customer- that is conditional upon getting a quote or purchasing a policy- is allowable and not considered illegal rebating? correct answers $10 If an individual that lives in another state has a producer license in that state, what license does he or she need to sell insurance in UT? correct answers Non-Resident Producer license What are the rules regarding "binding of coverage" for property and casualty producers compared to life and health producers? correct answers Property and casualty producers normally have binding authority, while life and health producers do not. How many continuing education credits in ethics training are required in each license period? correct answers 3 credits