SC P&C PSI Exam Questions With Correct Answers

What are the minimum requirements to become a licensed producer in SC? - ANSWER-At least 18, good moral character, clean SLED background, passed the LAH test, completed DOI license registration application sand paid the fee What documentation is requested by the SC Department of Insurance to process your application? - ANSWER-DOI application confirmation page including evidence of $25 fee paid, clean criminal background check, psi original exam score report with score of 70% or higher How does a Producer become an Agent? - ANSWER-Once a person has Producer's license from the DOI, individual insurers appoint that producer to be their agent, can be appointed by multiple carriers Name the 3 types of Individual Licenses issued by the Director - ANSWER-Individual producer, nonresident producer, temporary lisence Who does a Broker represent? - ANSWER-the citizens of the state in placing their insurance Describe how the director of insurance gets the job? - ANSWER-appointed by the governor with the senate's approval and consent The Director can examine the books and records of an insurer as often ____________, but most do so at least ________ every ________ years. - ANSWER-as necessary, once, five When an insurer terminates a producer's appointment, the insurer must notify the DOI ________ of the termination. - ANSWER-within 30 days