Property & Casualty Practice Exam: General Insurance Basics
Which of the following is the only reason that an insurer can cancel an automobile insurance policy? A) The insured did not notify the ins. co. of an at-fault loss with a dollar amount of over $500 B) The insured has reached the age of 85 C) The driver's license of the individual who usually operates the vehicle and who is insured by the policy, has had his/her license suspended temporarily D) None of these are valid reasons for an insurer to cancel. The insurer can only cancel within 30 days of policy renewal.
C
Which of the following statements is true regarding the materiality of representations and concealment? A) The degree of materiality is determined after a loss is calculated and paid B) Materiality has no affect on either of these C) It is determined (by the affect of the facts on each party) by the contract in determining his/her estimate of the disadvantages of the contract D) It does not apply to health insurance, only property and casualty insurances
C
Entities or organizations that provide coverage for medical expenses in CA are subject to the jurisdiction of the State Dept of Insurance (with several specific exceptions), unless these entities or organizations can demonstrate that during the course of providing these services, they are subject to the jurisdiction of: A) An agency of the Fed Gov B) Another CA gov agency in CA C) The agency of another state D) All of the above
D
Every admitted insurer in the state of California is required to maintain a unit or division to investigate which of the following? A) Possible non-compliance with CA rate laws B) Possible non-justifiable discrimination C) Possible arson claims D) Possible fraudulent claims made by insureds
D
How is an admitted insurer defined according to the CA DOI? A) It is incorporated under the laws of any other jurisdiction other than the state of CA B) It is organized and chartered according to and under the laws of the State of CA C) It transacts insurance business in all states D) It transacts insurance according to the laws of the state of CA
D
In the business of insurance, the act of concealment is defined by all of the following statement EXCEPT: A) Concealment can be intentional B) Concealment can be unintentional C) Concealment is grounds for declination by the insurer D) Concealment does not occur if no inquiry is made or the concealed facts immaterial
D
Which of the following best defines a binder? A) Contract that is temporary, only oral, between the insured and the insurer B) Contract that is temporary, either oral or in writing, between the insured and the soliciting agent C) Contract that is temporary, only in writing, between the insured and the insurer D) Temporary insurance protection, either oral or in writing, between the insured and the insurer
D
Which of the following insurance professionals would be employed to aid an insurance broker? A) Insurance adjuster B) Managing general agent C) Underwriter D) Insurance solicitor
D
A representation as to the future is considered which of the following? A) Promise B) Provision C) Liability D) Description
A
A representation in an insurance contract qualifies as which of the following? A) An implied warranty B) An amendment C) An express warranty D) A policy provision
A
All of the following are characteristics of "an ideally insurable loss exposure," EXCEPT: A) Losses that are catastrophic B) Losses that are definite and measurable C) Losses that are accidental D) Large number of similar exposure units
A
All of the following are requirements for a notice by mail to an insured by an insurer, EXCEPT: A) Notice must be sent with return receipt required B) Notice must be addressed to the person being notified C) Postage must be premade D) Notice must be mailed to the resident or principal of business
A
All of the following insurance companies are private insurers: EXCEPT: A) Reciprocal insurance companies B) Fraternal insurance companies C) Mutual insurance companies D) Stock insurance companies
A
An application for a license can be denied without a hearing. Which of the following circumstances would allow for an application to be denied for an insurance license, without a hearing EXCEPT: A) The applicant has committed a felony B) The applicant has committed a misdemeanor denounced by insurance laws and was convicted C) The applicant had an insurance app for an insurance license denied for cause within the previous 5 years D) The applicant for the license had an insurance license suspended or revoked for cause within the previous 5 years
A
How do insurance regulators view a statement made by an agent to a prospective insured that the dividends of an insurance contract are guaranteed each year? A) This would be considered misrepresentation B) This would be considered a felony C) This would be considered to be twisting D) This would be considered false warranty disclosure
A
If an insurer pays an insured $25,000 in lost wages,$45,000 for physician visits and hospital costs, and $15,000 for physical therapy treatments and later finds out that the claim was fraudulent the insured may be fined as much as: A) $170,000 B) $60,000 C) $85,000 D) $150,000
A
The California Insurance code: A) Requires agents to keep records of any compensation they may have received for their services involved with premium financing B) Requires agents to provide premium financing services C) Prohibits agents from receiving compensation for premium financing D) Sets the percentage of interest that my be charged in a premium financed contract
A
The execution of a policy involved which of the following? A) Signing a covering note B) Filling out an application C) Cancelling a policy 4) Discussing policy limits with the client
A
The state law that regulates insurer practices regarding underwriting, sales, rate-making, and claims handling are called: A) Market conduct regulation B) Insurer policing C) Ethical standards of surveillance D) Standard regulation
A
Under CA insurance code, the marketing department is responsible for all of the following, EXCEPT: A) Bulk mailing B) Newspaper advertising C) Offering other insurance products D) Emailing insurance quotes & coverages
A
Under the CA insurance code the word May is best defined as: A) Permissive or optional as it applies to the insurance code B) None elective as it applies to the insurance code C) Mandatory, required, must, no discretion as applied by the insurance code D) Always and or never as applied by the insurance code
A
What must an insurer do who accepts an application from an agent who is not specifically appointed by the insurer, and then issues a policy from that application? A) Forward to the Commissioner a notice of appointment within 14 days of receipt of an application B) Send the agent an appointment approval within 30 days of policy issuance C) The agent must become an employee of the company within 30 days of receiving application D) Name the agent to the list of the company's approval agents
A
When does the authority to transact insurance that is granted to a licensee from an insurance company become effective? A) When the Insurance Company representative signs the action notice of appointment B) When the DOI receives approval for the appointment C) When the DOI gives approval of the appointment D) When the licensee receives written notice of appointment from the insurer in the mail
A
When does the license of a fire and casualty broker-agent become inactive? A) When the broker/agent has no action notice of appt with any insurance co, but licensing renewal fees have been paid and continuing education requirements have been met B) When the broker/agent no longer transacts or sells insurance C) When the broker/agent doesn't renew their license upon its expiration D) These are all situations where a license becomes inactive
A
When is a Property and Casualty agent required to inform an insured of any conditions which may be precedent to coverage regarding a Personal Auto policy? A) At time of application B) At renewal C) At proposal D) At policy deliver
A
When must insurance agents or brokers; make insurance records available to the insurance Commissioner? A) At all times B) One month after policy issuance C) Within 30 days of a written request by the Commissioner D) Annually, and submitted with the proper paperwork
A
Which of the following describes an insurer who has enough financial resources only to provide for all of its liabilities and for all reinsurance of all outstanding risks? A) Insolvent B) Solvent C) Non-participating D) Guaranteed
A
Which of the following describes the act of making a false entry in any book, statement or report of any insurer with the intent to deceive any examiner lawfully appointed to examine the insurer's affairs? A) An unfair insurance trade practice B) An error or omission C) An exclusionary act D) An aleatory act
A
Which of the following statements is not true? A property and casualty managing agent: A) Does not have the authority to collect premiums from producing broker-agents B) Has the power to accept or decline risks C) Has the power to appoint, supervise and terminate the contracts of agents D) Holds a license as a fire and casualty agent
A
What must a life agent travel agent, or fire and casualty insurance agent do in order to act as an agent of a particular insurer? A) File proof of licensure with the state B) Have the agent listed with the appropriate department of the insurer C) Have an insurance company file an action notice of appointment with the Commissioner D) There are no legal requirements as long as the agent is legally licensed
C
Where do most states require insurers to file policy forms? A) The Federal Government Insurance Regulatory Committee B) The Independent Insurance Association of America C) The Insurance Department D) The Insurance Services Officer
C
A representation as to the past, present, or future is a/an: A) Warranty B) Verified Promise C) Unverified fact D) Misrepresentation
B
All of the following are areas that involve market regulation, EXCEPT: A) Sales B) Employee training C) Underwriting D) Rate-making
B
An applicant for insurance does not reveal information that the insurer would rely upon to issue the policy. This is a/an: A) Boycott B) Concealment C) Intimidation D) Coercion
B
An insurer that has a Certificate of Authority in California is: A) Authorized B) Admitted C) Allowed D) Approved
B
Any person who makes a loan of money using real property as security: A) There are no current laws regarding lenders disclosing borrower's information in California B) Shall not make available information contained in a borrower's insurance policy, if the borrower filed a statement with the lender, that they do not want lender to disclose such information C) Shall be allowed to make available the information contained in a fire or casualty insurance policy for the purpose of soliciting either fire or casualty insurance only D) Can give out any borrower's information to a solicitor if the lender discloses its practices to the borrower at the time the loan is made
B
Exclusive agents: A) Have exclusive ownership rights to their renewals B) Generally represent only one insurer C) Specialize exclusively in one class of business D) Make all sales by telephone
B
If an insured signs a claim form for a claim which is fraudulent, the insured may be found guilty of ____. A) Misrepresentation B) Perjury C) Nothing, if the claim is never paid D) Obstruction of justice
B
In California, excess and surplus lines coverage needs to be placed through: A)An excess and surplus lines solicitor B) A surplus lines broker C) An admitted insurer D) Lloyds of London
B
In the State of CA, how is a domestic insurer defined according to the CA DOI code? A) Any insurance co that has regional, district, or agency office in CA B) Organized, chartered, or incorporated under the laws of CA C) Marketing and selling insurance under the CA law D) Specializing in insurance products unique to the needs of CA (ex: earthquake insurance)
B
It is a violation of the CA Insurance Code to act as a producer for a non-admitted carrier unless: A) It is always a violation, no matter what type of producer B) The producer is a surplus lines broker C) The producer is an insurance solicitor D) The producer is dually licensed in at least two states
B
The process of underwriting a Disability Income insurance policy includes analyzing the risks associated with certain activities, hobbies, and hazardous sports. Therefore, how does the CA Insurance code define and classify an act of an applicant who doesn't mention, when applying for this type of insurance, his/her recent interest and participation in bungee jumping? A) This is defined and classified as material information and is considered concealment B) This is defined and classified as concealment C) This is defined and classified as misrepresentation D) This is defined and classified as twisting
B
The process whereby a mutual insurer becomes a stock company is called: A) Reorganization B) Demutualization C) Stock split D) Stock buyout
B
Under which of the following circumstances can the insurance Commissioner deny the app for an agent's license without hearing? A) The applicant has previously engaged in fraudulent activity involving insurance sales B) The applicant has had a license app denied for cause within the past 5 years C) The applicant has failed to pass the licensing exam three times in the past 2 years D) The applicant has no previous experience in the insurance business
B
What does it mean if an agent's license is inactive? A) The agent can still transact insurance business in CA< but not in other states until reactivated B) The agent cannot transact any business for which a valid, active license is required C) The agent can transact insurance business if it is done with another agent's approval D) The agent can transact any insurance business for which the agent is licensed
B
What is required of a broker-agent before appointing an insurance solicitor? A) Must hold a notice of appointment B) Must hold a permanent license C) Must hold a certificate of insurance D) Must be a domestic insurer
B
What must a licensee do in order to surrender for cancellation a license in their possession? A) Notify ion writing any insurer with which the agent has transacted business at least 60 days prior to the effective date of termination B) Deliver the document itself to the Commissioner C) Give the Commissioner at least 60 days prior to the effective date of termination D) Destroy the original and advise the State of Californias
B
What steps need to be taken to terminate a licensee's license that is in the possession of an employer? A) The license cannot be terminated prior to the expiration date; it becomes inactive. B) The licensee needs to give written notice of intent to the insurance Commissioner C) The licensee must give written notice to the employer who then sends the license to the insurance Comissioner D) The employer must return the license to the licensee, who then must return the license to the insurance Comissioner
B
What would the Commissioner likely do if an agent induces a client to co sign a loan? A) Force the agent to pay the loan back with interest B) Impose a $1,000 fine C) Suspend the agent's line D) Force the agent to attend a state ethics course
B
Where would an insured, that is in the business of importing exotic animals from Africa, most likely go to obtain insurance coverage? A) Alien insurer B) Excess and surplus lines insurer C) Foreign insurer D) State Competitive Fund
B
Which of the following statements is true regarding insurers with admitted status in California? A) The must file for an exemption with the insurance Commissioner if they wish to use race, color, religion or national origin as a rating condition B) They may not use race, color, religion, or national origin as a condition to use higher rates C) They may use any rating methods that are actuarially sound in rating the policy D) They may use race, color, religion, or national origin as a condition to refuse to issue policy coverage
B
Which rate approval filling system is used in California for most lines of insurance? A) Open competition B) Prior approval C) File and use D) Mandatory rates
B
An application for a license can be denied without a hearing. Which of the following circumstances would allow for an application to be denied for an insurance license, without a hearing? A) The applicant for the license speaks English as second language B) The applicant for the license has failed the required pre-license exam twice within a year C) The applicant for the license had a license denied for cause within the previous 5 years D) The applicant for the license has never been licensed to sell insurance and therefore has no experience in the industry
C
CA Insurance Code defines an "insurance broker" as; select be best or most correct answer: A) An individual who is appointed and employed licensed property and casualty broker-agent, transacts insurance with the insurance companies that the employing property and casualty broker-agent represents, is paid commission from the employer broker-agent, but acts on behalf of the clients B) An individual who is appointed by specific insurance companies to transact higher risk cases C) An individual who receives compensation for transacting insurance on behalf of another person, but not on behalf of an insurance company D) An individual who is appointed to transact insurance business with admitted insurance companies, receive commissions from these companies, but act on behalf of the clients
C
Company that negotiates and binds ceding reinsurance on behalf of an insurer is considered: A) An insurance specialist B) A third-party administrator C) A managing general agent D) An insurance solicitor
C
During the application process for a Personal Auto policy, the applicant says that he has not had any tickets or accidents. The insurance company accepts the risk and issues the policy. Shortly after, the insured's vehicle is stolen resulting in the insurer paying the loss and not cancelling the policy. This is despite the fact that they found out that the insured had received several traffic tickets that he neglected to mention. What is the reason for the course of action of the insurer? A) The insurer is required by law to pay all claims after a policy is approved and issued B) Traffic tickets do not have disclosed C) The traffic tickets that were not disclosed were not material. This is why the policy was not rescinded and the claim was paid. D) None of the above
C
In the state of CA no rate will remain in effect if it is considered to be any of the following, EXCEPT, A) Inadequate B) Unfairly discriminatory C) Impartial D) Excessive
C
It can be very tempting for commission-based insurance salespeople to perform unethical activities in order to make a sale. Of the following, which would not be a reason why the agent might be tempted to act unethically? A) Not keeping up with production quotas and goals B) Socializing with colleagues who are involved in unethical business practices C) Maintaining the best interest of customers first and foremost D) Not staying abreast of current issues in the industry and economy that affect insurance markets, maintaining the argument that ignorance is not unethical and therefore will have no possible legal
C
It is vital that an insurance agent/broker fully assess, analyze, and review a particular risk in order to determine the proper insurance coverage needed. The least likely way to do this is to: A) Examine published risk data associated with the type of business in question B) Tour the business to observe operations and work flow, and ask their key people about the company and its operations C) Review all coverage in their current insurance contracts and premiums D) Complete a questionnaire for the risk classification and then meet with key people
C
Minimum number of required continuing education hours that a fire and casualty broker-agent must meet? A) 24 hours of each 24-month period - following the date of original license, if license prior to 1992 B) 24 hours of each 24-month period - following the date of original license, if license after to 1992 C) 24 hours every renewal period - which must include 3 hours of Ethics D) 24 hours each 13-month period - for first four years of being licensed
C
RW and associates is an agency which represents BLG insuaracne corporation. RW and associates may leave the name BLG insurance corporation in its advetertisments by clearly stating the relationship between the two business in any of the following ways ; EXCEPT A) RW and Associates representing BLG Insurance Corporation B) RW and Associates placing business through BLG Insurance Corporation C) RW and Associates underwriting for BLG Insurance Corporation D) RW and Associates using the services of BLG Insurance Corporation
C
The insurance code definition of an insurance broker is: A) Any agent that writes more difficult to place business with the specialty insurers who have appointed B) Someone employed by a property and casualty broker agent receiving commissions from the employers, transacting insurance with admitted and non-admitted insurers and acting on behalf of clients C) A person who transacts all classes of insurance other than life and health with but not on behalf of the insurer, but on behalf of another person D) A person who transacts all classes of insurance other than life and health, with admitted and not admitted insurers, but not on behalf of the insurers they present apps of insurance, but on behalf of another person
C
The process whereby a stock insurer becomes a mutual insurer is called: A) Reorganization B) Demutualization C) Mutualization D) Stock buyout
C
The word "materiality" applies to the concepts of concealment and representation. Which of these is true in this regard? A) Materiality has no influence on either party to a contract, as the parties to the contract make their inquiries regarding the proposed insurance contract B) Materiality has no influence on either representation or concealment C) The materiality of any info in this regard is determined by the influence of the facts on each party in determining their estimates of the disadvantages of the proposed contract D) This does not refer to any health insurance policies, but only property and casualty policies
C
Under the CA Insurance code when an insurance agent/broker advertises in the internet and is transacting insurance in CA, they shall provide all of the following info, EXCEPT: A) His/her name as it appears on their insurance license B) The state his/her or domicile and principal place of business C) The telephone number where they can be reached D) His/her license number
C
Under the CA insurance code the word Shall is best defined as: A) Permissive, as it applies to the insurance code B) Optional or elective as it applies to the insurance code C) Mandatory, required, must, no discretion as applied by the insurance code D) Always and or never as applied by the insurance code
C
Under the CA insurance code, how does the Insurance Commissioner get in to office: A) Elected by the Gov of state B) Elected by the current Insurance Commissioner C) Elected by the citizens of CA in the same time, place and manner as the Gov D) Elected by state legislation
C
Under the California Insurance Code, a Surplus lines broker: A) Transacts insurance business only with admitted insurers B) Transacts specialty in marine insurance C) Transacts business only with non-admitted insurers D) Are always employees of insurance companies
C
You are to meet with a small furniture manufacturer and make property and liability insurance recommendations. You have insured many risks of this type in the past and have a good idea of what their needs may be. There are several popular ways of determining business loss exposure. Which of the following ways are the last professional and the least likely to correctly identify the loss exposures? You: A) Meet with key people and complete a loss exposure questionnaire developed for their type of risk B) Take a walk through the business to observe operations and work flow, and ask their key people about the company and its operations C) Get a copy of all current policies and determine what coverage they have been carrying and how much they have been paying D) None of the above
C
A property and casualty managing general agent can do all of the following, EXCEPT: A) Appoint, supervise, and terminate the contracts of agents B) Be licensed as a property and casualty agent C) Accept or decline risks, and accept premiums from producing broker agents D) None of these are excluded from the powers and authority given to property and casualty managing general agents
D
According to the CA Insurance code, a binder is deemed a valid insurance policy for the purpose of providing the insured insurance coverage specified in the binder for each of the following types of insurance, EXCEPT: A) Marine insurance B) Fire insurance C) Auto insurance D) Life insurance
D
All licensees must be appointed by the insurance companies they represent in order to sell the lines of insurance that a particular insurer may offer. Assuming that a licensed property & casualty broker/agent has received the proper appointments, what type or types of insurance, from the following list, may this individual sell? A) Property and disability insurance B) Auto and disability insurances only C) Auto insurance only D) Auto, property insurance
D
All of the following are requirements for a notice by mail to an insured by an insurer, EXCEPT: A) Notice must be sent with return receipt required B) Notice must be addressed to the person being notified C) Postage must be prepaid D) Notice must be mailed to the residence or principal place of business
D
All property and casualty broker-agents must not only be licensed with the DOI, but they must also have an action notice of appointment with the insurance companies they will be representing. When does the action notice become effective? A) When the agent receives the notice of appointment and license documentation B) When the DOI receives a copy of the appointment papers C) When the DOI approves the appointment of the licensee by the insurer D) When the action notice of appointment is signed by the insurer
D
An insurance company pays a loss and continues coverage of the auto policy under the following circumstances: An insured, honestly thinking that he/she received his/her last traffic ticket more than 36 months ago, applies for an auto policy, stating that he/she has had not tickets or accidents in the past 36 months. Several days after the policy is issued, the insured's car is stolen. While the claim is being processes, the insurance company discovers that the insured had received his/her most recent traffic ticket for speeding 32 months ago. Why is the claim paid and the policy continued? A) The insurer, by law, must pay the claim because the policy was in force at the time of the claim B) The insurance code states that the insurer must take action prior to a loss occurring, and frowns on concealment C) The concealment in this situation was unintentional D) The concealed facts were not material. They would have paid the claims anyways.
D
Insureds, especially those with higher premiums, very often do not have the immediate fund to pay required premiums, such as automobile liability insurance. In many cases, insurers will provide premium financing. Which of the following statements is correct regarding this financing, according to the requirements of the CA Insurance code? A) Premium financing is prohibited B) Premium financing compensation of any type is prohibited C) There are no requirements regarding premium financing D) Any agent that assists in premium financing services is required to maintain all records regarding such financing for 3 years after transaction
D
Insurers may purchase reinsurance for a variety of reasons. Which of the following is not a good example of the use of reinsurance? Insurer purchases reinsurance: A) For the protection from catastrophic exposures B) To more safely insure an exceptionally large account C) To avoid capacity problems by reducing the amount of unearned premium D) On below average business submitted to them, keeping the good business for themselves
D
Organization will cease to exist as an entity, eligible to hold a license, for all of the following reasons, EXCEPT: A) Termination of an association B) Dissolution of a co-partnership C) Dissolution of a corporation D) Termination of a key employee
D
Property and casualty broker-agent, when properly appointed, may transact all of the following EXCEPT: A) Liability insurance B) Ocean marine insurance C) Property insurance D) Health insurance
D
Records may be inspected or made available for inspection to the insurance commissioner at any time. When may a representation be withdrawn? A) It can never be withdrawn B) Only after the policy is in effect C) At any time as long as both parties agree D) Only before the insurance is in effect
D
The CA Insurance Code requires property insurance policies to specify all of the following information, except: A) The insured's risks or perils B) A description of the insured property C) The policy period D) The insured's address
D
The CA Insurance code contains requirements concerning the requirements for name approval for all insurance licensees. These requirements include which of the following? A) The word "UW" can be used by all fire and casualty broker-agents because they are considered to be field UWs B) Insurance agents are permitted to include "insurance Company" on their license C) The phrase "and company" can be used by a property and casualty agent-broker who has employed a solicitor D) The professional designation "CPCU" is acceptable following the name of a Property & Casualty broker-agent who has completed the Chartered Property & Casualty UW courses
D
The method that the California DOI uses to approve or disapprove rate filing for various types of insurance such as homeowners and automobile is know as? A) Open competition method B) File and use method C) Mandated rates method D) Prior approval method
D
The negotiation of a policy involves which of the following: A) Adding an endorsement to the policy B) Signing an application form C) Making a premium payment D) Sending the prospect an email
D
The types of transactions and insurers that a surplus lines broker is involved with is/are: A) Admitted insurers, liability insurances only B) Admitted insurers, property insurance only C) Non-admitted insurers, life and disability insurers D) Non-admitted insurers, transacting property and casualty insurances
D
Under Section 770 of the Insurance Code true regarding unfair or deceptive trade practices, which of the following is an unfair trade practice? A) The penalties for misrepresentation and twisting of insurance policies are different B) The restrictions on the activities of incorporated insurers C) A travel insurance agent cannot refer business to unincorporated insurers D) An entity cannot demand the insurance be placed with a particular agency
D
Under the California Insurance Code, all insurance licensee's who collect premiums have a fiduciary responsibility to both the insurer and the insured; if it is discovered that the agent or broker commingled or diverted premium dollars wold be charged for: A) Misrepresentation B) Fraud C) Forgery D) Theft
D
What else must an applicant for a Property and Casualty license, life agent license, or personal lines agent license complete, in addition to pre-licensing classroom study? A) A sales training course provided by the insurance department B) A contract law course at any approved college location C) A diversity awareness course provided by the State of CA D) A 12-hour course on ethics and the California Insurance Code
D
What is one of the main factors that the insurance Commissioner uses while determining whether a rate is excessive or unfairly discriminatory? A) How long the insurer has been admitted to do business in the state B) Complaint history of the insurer by insureds C) The degree of competition D) Whether the rate mathematically reflects the insurance company's investment income
D
What type of insurance company has owners who are stockholders in the company and who share in the profits of the company? A) Reciprocal insurance companies B) Mutual insurance companies C) Assessment insurance companies D) Stock insurance companies
D
What type of insurance company is owned by individuals that are stockholders in the company; and share in the profits of the company? A) Reciprocal insurance companies B) Assessment insurance companies C) Mutual insurance companies D) Stock insurance companies
D
What will happen when an agent's action notice of appointment with an insurance company is terminated and the agent has no other appointments with any other insurance company? A) The agent's permanent license will be terminated simultaneously B) The agent's permanent license remains in force for only 60 more days unless the agent becomes reappointed or receives a new appointment letter from another insurer C) The agent's permanent license remains fully active until expiration D) The agent's permanent license becomes inactive
D
When an applicant or license during a hearing gives a plea of nolo-contendere they are: A) Guilty according to state laws B) Not guilty according to state laws C) Not guilty according to insurance laws D) Guilty according to insurance laws
D