Insurance Test SC Specific Questions & Answers 100% Accurate

Producer - ANSWER-An insurance producer is any person who sells, solicits, or negotiates insurance on behalf of an insurer. If a producer changes their address, they have how many days to notify the Department of Insurance of the change? - ANSWER-30 What option does the Director have if an insurance company becomes insolvent? - ANSWER-Revoke the company's license Who pays the biennial appointment fee for each agent? - ANSWER-The appointing insurer Refusing to do business with a company in order to hurt them is: - ANSWER-Boycott How much time does an insurance producer have to report any administrative action taken against them? - ANSWER-30 days How much notice of a hearing must be given to an insurance producer? - ANSWER-30 days If Tim is licensed in both property and casualty and life, accident, and health insurance, how many hours of continuing education must he complete in property and casualty during each licensing period? - ANSWER-8 Hours In order for an agency to act as a producer it must obtain a producer's license. The application must be submitted: - ANSWER-Using a Uniform Business Entity Application What is not a duty of the director? - ANSWER-Prosecute criminal violations of insurance law