Idaho Property and Casualty Review
UPDATED Exam Questions and
CORRECT Answers
Which of the following must have a Producer's license?
A. managing general agent
B. an actuary
C. adjuster
D. underwriter - Correct Answer- A. managing general agent
The account to which premiums are deposited may be referred to as each of the following
EXCEPT:
A. Trust
B. Escrow
C. Savings
D. Fiduciary - Correct Answer- C. Savings
Which has its management team selected by the policyholders?
A. mutual insurer
B. stock insurer - Correct Answer- A. mutual insurer
Funds in the account payable to the insured must be disbursed within:
A. 7 days
B. 14 days
C. 21 days
D. 30 days - Correct Answer- B. 14 days
,The Idaho mature driver program applies to drivers who are at least:
A. 50
B. 55
C. 60
D. 65 - Correct Answer- B. 55
Auto repair claims must be paid within:
A. 10 days
B. 20 days
C. 30 days
D. 45 days - Correct Answer- B. 20 days
Which of the following must have an appointment?
A. Producer who represents an insurance company as an agent
B. Producer who does not represent an insurance company as an agent - Correct Answer- A.
Producer who represents an insurance company as an agent
Funds in the account payable to the insurer must be disbursed within:
A. 21 days
B. 30 days
C. 45 days
D. 60 days - Correct Answer- A. 21 days
Which form of rebating is illegal in Idaho?
A. Granting a discount based on the amount of insurance purchased
,B. Granting discount to insureds for paying premiums directly to the insurer rather than
sending payments to the Producer
C. Adjusting group rates based on experience ratings
D. Paying an applicant part of the commission as an inducement to purchase a policy -
Correct Answer- D. Paying an applicant part of the commission as an inducement to purchase
a policy
The Director may examine Producer's records:
A. Any time
B. Only after giving 30 days notice - Correct Answer- A. Any time
An auto "certificate of self-insurance" is issued by:
A. Any authorized insurance company
B. A certified public accountant
C. The Idaho Department of Motor Vehicles
D. The Idaho Department of Insurance - Correct Answer- D. The Idaho Department of
Insurance
Nancy is 80% the cause of an accident. What proportion of her damages may she recover
from the person who was 20% the cause of the accident?
A. 100%
B. 20%
C. 80%
D. None - Correct Answer- D. None
A Third Party Administrator:
A. Must have an appointment
B. Must be bonded
, C. May sell insurance
D. Must pass the Idaho licensing exam - Correct Answer- B. Must be bonded
The Director of Insurance has the authority to issue orders. Any order must:
A. State its purpose and effective date
B. Be published in a local newspaper for 14 days - Correct Answer- A. State its purpose and
effective date
The Idaho Auto Financial Responsibility requirement may be met by posting cash with the
Secretary of State or a bond in the amounts of at least:
A. $100,000
B. $50,000
C. $70,000
D. $25,000 - Correct Answer- B. $50,000
An alien insurer is one domiciled in another:
A. State
B. Country - Correct Answer- B. Country
Every auto policy sold in Idaho must contain Uninsured and Underinsured Motorist coverage
unless:
A. The auto is valued at less than $5,000
B. The insured waived the coverage in writing - Correct Answer- B. The insured waived the
coverage in writing
A temporary producer license is effective for:
A. 180 days
UPDATED Exam Questions and
CORRECT Answers
Which of the following must have a Producer's license?
A. managing general agent
B. an actuary
C. adjuster
D. underwriter - Correct Answer- A. managing general agent
The account to which premiums are deposited may be referred to as each of the following
EXCEPT:
A. Trust
B. Escrow
C. Savings
D. Fiduciary - Correct Answer- C. Savings
Which has its management team selected by the policyholders?
A. mutual insurer
B. stock insurer - Correct Answer- A. mutual insurer
Funds in the account payable to the insured must be disbursed within:
A. 7 days
B. 14 days
C. 21 days
D. 30 days - Correct Answer- B. 14 days
,The Idaho mature driver program applies to drivers who are at least:
A. 50
B. 55
C. 60
D. 65 - Correct Answer- B. 55
Auto repair claims must be paid within:
A. 10 days
B. 20 days
C. 30 days
D. 45 days - Correct Answer- B. 20 days
Which of the following must have an appointment?
A. Producer who represents an insurance company as an agent
B. Producer who does not represent an insurance company as an agent - Correct Answer- A.
Producer who represents an insurance company as an agent
Funds in the account payable to the insurer must be disbursed within:
A. 21 days
B. 30 days
C. 45 days
D. 60 days - Correct Answer- A. 21 days
Which form of rebating is illegal in Idaho?
A. Granting a discount based on the amount of insurance purchased
,B. Granting discount to insureds for paying premiums directly to the insurer rather than
sending payments to the Producer
C. Adjusting group rates based on experience ratings
D. Paying an applicant part of the commission as an inducement to purchase a policy -
Correct Answer- D. Paying an applicant part of the commission as an inducement to purchase
a policy
The Director may examine Producer's records:
A. Any time
B. Only after giving 30 days notice - Correct Answer- A. Any time
An auto "certificate of self-insurance" is issued by:
A. Any authorized insurance company
B. A certified public accountant
C. The Idaho Department of Motor Vehicles
D. The Idaho Department of Insurance - Correct Answer- D. The Idaho Department of
Insurance
Nancy is 80% the cause of an accident. What proportion of her damages may she recover
from the person who was 20% the cause of the accident?
A. 100%
B. 20%
C. 80%
D. None - Correct Answer- D. None
A Third Party Administrator:
A. Must have an appointment
B. Must be bonded
, C. May sell insurance
D. Must pass the Idaho licensing exam - Correct Answer- B. Must be bonded
The Director of Insurance has the authority to issue orders. Any order must:
A. State its purpose and effective date
B. Be published in a local newspaper for 14 days - Correct Answer- A. State its purpose and
effective date
The Idaho Auto Financial Responsibility requirement may be met by posting cash with the
Secretary of State or a bond in the amounts of at least:
A. $100,000
B. $50,000
C. $70,000
D. $25,000 - Correct Answer- B. $50,000
An alien insurer is one domiciled in another:
A. State
B. Country - Correct Answer- B. Country
Every auto policy sold in Idaho must contain Uninsured and Underinsured Motorist coverage
unless:
A. The auto is valued at less than $5,000
B. The insured waived the coverage in writing - Correct Answer- B. The insured waived the
coverage in writing
A temporary producer license is effective for:
A. 180 days
