P&C Flashcards (Ch 5)
Which of the following applicants will be able to obtain an adjuster's license without taking the state examination?
An applicant who is renewing a license
Which members of a corporation or partnership are required to obtain an individual insurance agent's license in order for the association to be licensed?
At least one officer or partner and any other person acting as an agent
All of the following are considered unfair or deceptive acts in connection with the sale of insurance EXCEPT
Attempting to settle a claim in which liability is clear
If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be
Authorized
Which of the following must an insurer obtain in order to transact insurance within a given state?
Certificate of authority
Which of the following occupations would NOT directly help to qualify someone for the office of Commissioner of Insurance?
Insurance agent
An applicant for a license in Texas must include a statement with his application that provides info about all of the following EXCEPT
Intending to apply for another license
Which of the following is NOT true regarding a Certificate of Authority
It is issued to group insurance participants.
Anyone who violates the Insurance Code of Texas may be fined up to
$25,000
A risk manager's license is good for how many years?
2 years
For which of the following actions can an agent's license be suspended or revoked?
Rebates of premiums
The following are all causes for the Insurance Commissioner to suspend or impose conditions upon the continuance of an agent's license EXCEPT
The applicant has been shown to be a poor personal credit risk
All of the following statements apply to temporary licenses EXCEPT
They may be renewed
After filing a claim, an insured tells the insurer that there is more than one insurance policy in force. That insurer sets aside the claim until it hears what the other company will pay. The insurer's action will be classified as
Unfair
