PERSONAL LINES PROPERTY & CASUALTY TEST WITH ALL ANSWERS UPDATED

Personal Lines Property & Casualty Test b b b b b




With All Answers Updated b b b b




Risk - correct answer-Chance or Uncertainty of a Loss
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Peril - correct answer-Possible cause of a loss
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2 Years - correct answer-The Commissioner of insurance is appointed by the
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governor for a term of ______ ending on February 1 of each odd-numbered year?
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5 Years - correct answer-The Commissioner of insurance MUST have ________ of
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experience in business or government.
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$50,000 - correct answer-The Commissioner of insurance must provide a
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__________ surety bond. (A surety bond guarantees performance)
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$500,000 - correct answer-The Commissioner of insurance requires state fees in
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excess of _____________ to be submitted by electronic transfer.
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15 Days - correct answer-The Commissioner of insurance requires that persons
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must respond to commissioner inquires within_______ ?
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20 Days - correct answer-Response from alleged violator must be within ______ of
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receipt?
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14 Days - correct answer-Department must send notice of violation within _____ of
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finding?
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$25,000 - correct answer-Maximum penalty for insurance code violations?
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18 Years Old - correct answer-Minimum age for a license?
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5 years - correct answer-The waiting period to reapply if license is denied or
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revoked?
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90 Days - correct answer-An Emergency License is valid for up to ___?
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90 Days - correct answer-An Emergency license may be renewed an additional
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____?
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,90 Days - correct answer-A temporary license is valid for up to ___?
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2 years - correct answer-Business entity agent licenses are renewed every ______
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after the license is issued?
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1 Year - correct answer-If the license is expired for more than _______ all
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requirements for a new license (including the exam) must be met?
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90 Days - correct answer-If a license has been expires for _________ or less, it
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may be renewed by paying the renewal fee plus a 50% penalty.
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90 Days - correct answer-A license expired more than ______ but less than one
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year cannot be renewed; a new license maybe issued with no exam upon payment
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of license fee & penalty fee?
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Monthly Basis - correct answer-Change in address, felony convictions, or
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administrative actions must be reported to the commissioner on a __________?
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24 Hours - correct answer-Total continuing education requirements?
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2 Hours - correct answer-Ethics & consumer protection continuing education
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requirement?
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3 hours - correct answer-Flood insurance requires _____ certification course?
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4 years - correct answer-Continuing education records must be kept for _____?
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25% - correct answer-At least ____ of annual premiums must be derived from
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persons other than the applicant, applicants family, & applicants business
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associates.
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60 Days - correct answer-Approval of Rate & forms must be filed _____ before
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use?
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30 Days - correct answer-Binders must be replaced by the insurance policy within
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____?
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$15 million - correct answer-Surplus lines insurer's capital & surplus must be at
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least ______?
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30 Days - correct answer-Suspected fraudulent acts must be reported to the
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commissioner or law enforcement within _____?
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10 Days - correct answer-______ in advance for Homeowners Insurance
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cancellation?
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6 months - correct answer-Texas FAIR (Fair Access to Insurance requirements)
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provides residential property insurance when coverage is unavailable in other
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markets or when there has been no insurance on the property in the past ______?
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, 30 Days - correct answer-_________ in advance for a Nonrenewal?
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$60,000 - correct answer-Bodily injury or death of 2 or more people _____?
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$25,000 - correct answer-Property damage per accident?
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30/60/25 - correct answer-Minimum liability in Texas ($30,000 per person for bodily
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injury, $60,000 per accident for bodily injury, $25,000 for property damage of
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others)
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$30,000 - correct answer-Bodily injury or death of any 1 person?
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$2,500 - correct answer-Minimum PIP limits?
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30 days - correct answer-Claims must be paid within ____ after proof of claim?
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3 years - correct answer-Covers expenses incurred within _______ of accident?
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90 days - correct answer-Commercial auto policy may be cancelled for ANY
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reason within the first _______ of the policy?
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60 Days - correct answer-______- in advance for a nonrenewal commercial auto
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insurance policy?
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10 days - correct answer-_____- in advance to cancel a commercial auto
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insurance policy?
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10 Days - correct answer-_______ in advance for a personal auto cancellation
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60 Days - correct answer-Policy may be canceled for any reason within the first
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______ of a personal auto policy?
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30 Days - correct answer-_______ in advance for a nonrenewal or cancellation on
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a 12-month anniversary date.
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8th Day - correct answer-Disability Benefit payments do not begin until the
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_______?
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2 - correct answer-TAIPA (Texas Auto Insurance Plan Association) to qualify,
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applicants must first be rejected by at least ____ insurers?
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5 Days - correct answer-An employee may waive being covered by workers
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compensation (retain the right to sue the employer for injuries) if notice is given
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within ________ of being hired?
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2 weeks - correct answer-If disability lasts for __________ or longer, compensation
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for wages is from the date disability began?
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$10,000 - correct answer-Burial costs are covered up to ________?
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