Group 1 Exam Questions and answers latest
update
Which of the following is not a duty of the Commissioner?
A
Issue an insurance license for a producer
B
Make state insurance laws
C
Handle insurance-related consumer complaints
D
Enforce state insurance laws
B
The Commissioner may examine the records of an insurance company for the purpose of:
A
Approving coverages
B
Approving claims
C
Setting rates
D
Determining solvency
D
The Commissioner is authorized to perform all of the following duties, except:
A
Adopt reasonable rules and regulations to enforce insurance laws
B
Suspend insurance licenses for up to 5 years
C
Issue cease and desist orders
D
Conduct investigations
B (can suspend for 1 yr)
A Certificate of Authority is issued to an insurer for which of the following reasons?
A
It recognizes the insurer for excellence in handling claims
B
, It certifies the insurer is authorized to transact insurance in this state
C
It certifies the insurer has passed a market conduct exam in this state
D
It certifies the agent is authorized to transact insurance in this state
B
Which of the following is NOT transacting insurance?
A
Selling stocks, bonds, and mutual funds
B
Delivering an insurance contract
C
Collecting an insurance payment
D
Indirectly acting as an agent
A
According to the Texas Insurance Code, an insurance company incorporated in New Mexico is a(n):
A
Domestic insurer
B
Admitted insurer
C
Foreign insurer
D
Alien insurer
C
Which type of insurance company is owned by its policyholders?
A
Stock insurer
B
Admitted insurer
C
Mutual insurer
D
Non-admitted insurer
C
update
Which of the following is not a duty of the Commissioner?
A
Issue an insurance license for a producer
B
Make state insurance laws
C
Handle insurance-related consumer complaints
D
Enforce state insurance laws
B
The Commissioner may examine the records of an insurance company for the purpose of:
A
Approving coverages
B
Approving claims
C
Setting rates
D
Determining solvency
D
The Commissioner is authorized to perform all of the following duties, except:
A
Adopt reasonable rules and regulations to enforce insurance laws
B
Suspend insurance licenses for up to 5 years
C
Issue cease and desist orders
D
Conduct investigations
B (can suspend for 1 yr)
A Certificate of Authority is issued to an insurer for which of the following reasons?
A
It recognizes the insurer for excellence in handling claims
B
, It certifies the insurer is authorized to transact insurance in this state
C
It certifies the insurer has passed a market conduct exam in this state
D
It certifies the agent is authorized to transact insurance in this state
B
Which of the following is NOT transacting insurance?
A
Selling stocks, bonds, and mutual funds
B
Delivering an insurance contract
C
Collecting an insurance payment
D
Indirectly acting as an agent
A
According to the Texas Insurance Code, an insurance company incorporated in New Mexico is a(n):
A
Domestic insurer
B
Admitted insurer
C
Foreign insurer
D
Alien insurer
C
Which type of insurance company is owned by its policyholders?
A
Stock insurer
B
Admitted insurer
C
Mutual insurer
D
Non-admitted insurer
C
