Sample Exam

if a producer were to write an insurance contract with a company that was not authorized to do business in Tennessee, he would

A be held personally liable for all premiums and claims

A licensed nonresident producer who moves to Tennessee and applies within 90 days of arrival to become a resident producer is exempt from

C. the insurance licensing examinations

For the purpose of conducting an investigation, the tennessee commissioner of insurance has all of teh following powers EXCEPT

C. the power to impose a jail sentence

the commissioner may deny, suspend or revoke an agent's insurance license for all of the following EXCEPT

C. being convicted of a misdemeanor

if an insurance producer refunds a portion of an insured;s premium, the producer may be guilty of

C. rebating

At least how many hours of prelicensing ed must be completed by an applicant for an insurance producer's license

A. 20

Withing how many days of chang of address must a producer notify the commissioner of change

A. 30

Who administers all laws that relate to insurance in tennessee

A. Department of commerce and insurance

to obtain a license to sell insurance in Tennessee an individual must meet all of the following requirment EXCEPT

A. the individual must be at least 21 years old

AN insurer appointing a producer as its agent must file a notice of the appointment with the commissioner within how long after teh date the agency contract is executed or the first insurance application is submitted

A15 days

A producer's Tennessee insurance license will remain valid for how long after the date of issue?

C. 2 years

Bud was found guilty of a single instance of knowingly violating an insurance law. Teh commissioner could order Bud to pay a penalty of up to what amount

C. 25,000

The commissioner may issue all of the following penalties to producers who engage in unfair or deceptive practices EXCEPT

C. Order a 2 year prisone term for illful violators

Which of the following is NOT a power of the Commissioner of commerce and insurance

C. Writing the tennessee insurance laws

An unlicensed person who is neither employed by nor affiliated with the insurance producer may be paid a referral fee in a fixed dollar amount not to exceed

B$25

At least how many of a producer's continuing education must be on the subject of ethics

B. 3

A resident producer who moves from Tennessee to another state must file a change of address and provide certificaiton from the new state residence with

B. 30 days

what is an authorized insurer?

B. A company that is authorized by teh commissioner to transact insuracne business in Tennessee

An insurance company's license to do business in Tennessee is called

B. Certificate of authority

WHich of the following does an appointed insurance producer represent in an insurance transaction

B. Insurer

a number or rating that is based in whole or in part on credit info for the purposes of predicting the future insurance loss exposure of an individual applicant or insured is called

B. an insurance score

Which of the following people must pass the producer's licensing examinaiton

B. applicants who apply for property and casualty insurance licenses

Which of the following people could NOT be granted a temporary producer's license

B. designee of a licensed producer who is enterin gactive service in the US armed forces

Applicants can receive limited insurance representative licenses, without examination, in all of the following lines of insurance EXCEPT

B. group life and health

Temporary licenses are issued for which of the following terms

D. 180 days, nonrenerable

upon receipt of the notice of an agent appointment, the commissioner will berify that the insuranc eproducer is eligible for appoinment within a reasonable time not to exceed

D. 60 days

A business entity may become licensed as a producer if

D. it designates a licensed producer who will be responsible for the entity's compliance with stae law and regulations

all of the following constitute unfair practices EXCEPT

D. paying bonuses to all policyholders out of surplus accumulated from nonparticipating insurance

Which of the following is NOT a unfiar practice

D. readjusting the rate of premium for group insurance policies based on teh insurer's expense experience

AN individual no longer licensed as a producer may receive which of the following types of compensation if they were properly licensed at the time of the original sale

D. renewal commisions

A producer licensed after january 1, 1997 must complete how many hours of continueing ed each year

D.24