2026 Exam Questions and
Answers | Already Graded A+
authority given to an agent to transact business on behalf of the insurer.
No one can act as an insurance agent unless currently licensed by the
department and appointed by the insurer - ANSWER ✔✔Appointment
New appointments will expire __________ on the last day of the
licensee's birth month - ANSWER ✔✔24 months
an appointing entity may terminate its appointment of any appointee at
any time with at least _______ notice - ANSWER ✔✔60 days
,within _______ after terminating the appointment, the entity must file
written notice with the department including the reasons and facts
involved in termination - ANSWER ✔✔30 days
an agent's license will terminate if __________ elapse before being
appointed for the class or classes of insurance listed on the license -
ANSWER ✔✔48 months
an agent needs to follow these guidelines every two years to maintain
their license - ANSWER ✔✔Renewing or maintaining a license
(Continuing education)
an agent needs to follow these guidelines every_________ to maintain
their license - ANSWER ✔✔2 years
_________ of continuing education for every two years for agents
licensed for less than 6 years - ANSWER ✔✔24 hours
__________ of continuing education for agents licensed for more than 6
years - ANSWER ✔✔20 hours
any continuing education must include minimum of ______ in law and
ethics - ANSWER ✔✔4 hours
agents must pay these fees every two years - ANSWER ✔✔License
fees, appointment and renewal fees
, agents must continue to be appointed with an insurance company to
keep their license - ANSWER ✔✔True
any deceptive, fraudulent, or otherwise injurious practices or acts (as to
a consumer) are declared unlawful by statute or recognized as
actionable at common law - ANSWER ✔✔Unfair trade practices
improper avoidance of a claim by the insurer or an attempt to reduce the
size of its claim by engaging in unfair claim practices to reduce costs -
ANSWER ✔✔Unfair claims settlements
insurance companies have to get classified in these three classification
according to the location of its corporation - ANSWER ✔✔Domestic,
foreign, or alien
Regardless of where the insurance company is incorporated, it still has
to get a certificate of authority before transacting insurance within a state
- ANSWER ✔✔true
a company that resides and is incorporated under the laws of the state
which its home office is located. - ANSWER ✔✔Domestic insurance
company
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