PERSONAL LINES EXAM PRACTICE |
KENTUCKY LAW CONDENSED CHAPTER,
PRACTICE QUESTIONS, CORRECT ANSWERS
AND STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, Alien insurer An insurance company that is incorporated outside United States/FORMED under laws of
another country.
Certificate of Authority Insurers must obtain this prior to transacting business in this state
Unathorized/Nonadmitted and Authorized/Admitted HAVE certificate of Authority, you are authorized/admitted, approved to do business.
DO NOT HAVE certificate of Authority, you are unathorized/nonadmitted, not approved
to do business
Every Policy must specify -Names of parties to contract
-Subject of the insurance
-Risks insured against
-Effective date of coverage and the coverage period
-Premium
-Conditions pertaining to insurance
-Benefits payable
Insurance Producer Individual or business entity required to be licensed under the laws of Kentucky to sell,
solicit, or negotiate insurance or annuity contracts
Agent person who sells, solicits, or negotiates insurance or annuity contracts on behalf of
insurance company, must be appointed by that company
Licensing Requirements -Must be 18 years of age
-Residency requirements
-Trustworthy/Good reputation
-Not committed any acts that would cause revocation of license
-20 hours of approved prelicensing or 40 hours for combination license
-Pass license exam
-Pay fees
-Certificate from authorized Insurer to maintain liability policy on agent of $20,000 for
single occurrence and $100,000 for aggregate occurrence
-Bond with commissioner of $20,000 to cover legal liability or agreement with
commissioner between licensed agent and insurer, that insurer will take responsibility up
to $20,000 per act of licensed agent
License Renewal Request for renewal must be made at least 30 days before renewal date
KENTUCKY LAW CONDENSED CHAPTER,
PRACTICE QUESTIONS, CORRECT ANSWERS
AND STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, Alien insurer An insurance company that is incorporated outside United States/FORMED under laws of
another country.
Certificate of Authority Insurers must obtain this prior to transacting business in this state
Unathorized/Nonadmitted and Authorized/Admitted HAVE certificate of Authority, you are authorized/admitted, approved to do business.
DO NOT HAVE certificate of Authority, you are unathorized/nonadmitted, not approved
to do business
Every Policy must specify -Names of parties to contract
-Subject of the insurance
-Risks insured against
-Effective date of coverage and the coverage period
-Premium
-Conditions pertaining to insurance
-Benefits payable
Insurance Producer Individual or business entity required to be licensed under the laws of Kentucky to sell,
solicit, or negotiate insurance or annuity contracts
Agent person who sells, solicits, or negotiates insurance or annuity contracts on behalf of
insurance company, must be appointed by that company
Licensing Requirements -Must be 18 years of age
-Residency requirements
-Trustworthy/Good reputation
-Not committed any acts that would cause revocation of license
-20 hours of approved prelicensing or 40 hours for combination license
-Pass license exam
-Pay fees
-Certificate from authorized Insurer to maintain liability policy on agent of $20,000 for
single occurrence and $100,000 for aggregate occurrence
-Bond with commissioner of $20,000 to cover legal liability or agreement with
commissioner between licensed agent and insurer, that insurer will take responsibility up
to $20,000 per act of licensed agent
License Renewal Request for renewal must be made at least 30 days before renewal date
