Insurance Pt 10

Which of the following is the basic auto liability limit required for bodily injury or death to any one person in any one accident?

$30,000

An insurer must acknowledge receipt of a Notice of Claim within how many days?

15

The Commissioner of insurance issues a Cease and Desist Order to an agent. If the agent wishes to contest the charges in court , how many days after the order issued does the agent have to make the request?

30 days

How long must a producer maintain records of continuing education course completion?

4 years

Who are members of the Texas Windstorm Insurance Association?

All authorized property insures

Which of the following can qualify for a surplus lines license?

Any of the above

In Texas, how is the commissioner of insurance placed in office?

Appointed by the Governor for a term of 2 years

What type of insurance can be obtained through a surplus lines insurer?

Coverage that is unavailable through authorized insurers

The requirement that agents not commingle insurance monies with their own funds is known as

Fiduciary responsibility

A health care provider wants to provide medical professional liability insurance for its employees. Unfortunately, the provider has searched unsuccessfully for an insurance carrier that can provide the insurance. Which of the following will most likely be able to provide this insurance?

Joint Underwriting Association

An agent holds an insurance license in the state of Kansas and would like to transact insurance in Texas. The agent became licensed before written examinations were required. Therefore, the agent has not actually passed any kind of examination. Which of the following is true?

The written examination requirement will be waived

Which of the following would NOT be considered a misrepresentation on the part of the insurer?

Backdating policies to secure a lower premium for the insured

An insured under a homeowners policy who has filed two or more claims in the preceding policy year may be

Surcharged on the premium amount

Who might receive dividends from a mutual insurer?

Policyholders

Circulating deceptive sales material to the public is what type of Unfair Trade Practice?

false advertising