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