Texas Insurance Laws Exam with Answers 2024

Texas Insurance Laws Exam with Answers 2024 The Commissioner of Insurance may issue a temporary agent's license for a maximum of how many days? - ️️ - 90 A group life insurance policy may NOT insure groups consisting exclusively of persons who are - ️️ - related by marriage, blood or legal adoption The Commissioner of Insurance has the power and duty to take all of the following actions EXCEPT activate insurance companies' financial reserves compute insurance companies' required financial reserves issue insurance licenses handle insurance-related consumer complaints - ️️ - activate insurance companies' financial reserves Which of the following actions by an insurance company is considered an unfair claims settlement practice? - ️️ - Denying an insured's claim without indicating the basis of denial under the policy Under Texas insurance law, the term "transacting business" includes - ️️ - collecting premiums An agent may legally share commissions only with - ️️ - another agent who is licensed in the same line of insurance If an insurance company is organized under the laws of New Jersey and licensed to do business here, it is considered which of the following in Texas? - ️️ - a foreign company An agent MUST do which of the following during a sales presentation for a participating life insurance policy? - ️️ - Include a statement that dividends are NOT guaranteed Which of the following is an example of rebating? - ️️ - returning a portion of a premium as inducement to purchase insurance A foreign insurance company is one that is incorporated - ️️ - under the laws of another state All of the following statements about health coverage for newborns are correct EXCEPT coverage begins and benefits are payable from the moment of birth coverage includes necessary care and treatment of congenital defects coverage during the first year is limited to congenital defects continued coverage after the first 31 days is dependent on notification - ️️ - coverage during the first year is limited to congenital defects Under the Texas insurance code, an insurance company must pay death benefits for suicide if the policy has been in force for a MINIMUM of - ️️ - 2 years An applicant for an agent's license must meet which of the following requirements? - ️️ - Be honest, trustworthy, and