Louisiana P&C Insurance Exam (Passed!)

Commissioner's term of office correct answers 4 years Commissioners will examine each insurer correct answers 5 years Time to conduct a hearing correct answers 30 days Age to apply for producer's license correct answers 18 years old Producer license valid for how long correct answers 2 years How long to file notice of appointment with Commissioner correct answers 15 days How long for commissioner to determine whether producer is suitable for appointment correct answers 30 days How long for Commissioner to inform insurer that producer is ineligible for appointment correct answers 15 days How long to notify Commissioner of termination of appointment correct answers 30 days Temporary license period correct answers 180 days CE required for insurance producers every 2 years correct answers 24 hours CE that must be about ethics correct answers 3 hours Maximum amount of business that can be attributed to controlled business correct answers 25% Time to report change of home or business address correct answers 10 days Time to report administrative action or conviction correct answers 30 days Fine for using an unapproved name correct answers $250 Fine for repeated violations of the approved name regulation correct answers $5,000 Fine for unintentional violations of Insurance Code correct answers $1,000 Aggregate fine for unintentional violations of Insurance Code correct answers $100,000 Fine per violation for willful violations of Insurance Code correct answers $25,000 Maximum fine for all willful violations of Insurance Code within a 6-month period correct answers $250,000