Texas statues and rules common to all lines
A risk manager's license is good for how many years?
2
What is the minimum percentage of a licensees total volume of premiums in a calendar year that must come from businesses than controlled business?
25%
No one if your license gets revoked can receive another license in TX for?
5 years
To legally transact insurance in this state, an insurer must obtain which of the following?
Certificate Authority
In insurance transactions, fiduciary responsibility means
Handling insurer funds in a trust capacity
An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. Which of the following best describes this act?
Illegal under any circumstances
An applicant for a license in TX must include a statement with his application that provides information about all of the following except
Intending to apply for another license
Which of the following is an example of a producer being involved in an unfair trade practice of rebating?
Telling a client that his first premium will be waived if he purchased the insurance policy today
A temporary license holder can receive commissions from a sale made to all the following EXCEPT?
The license holder sister in law
An insurance agent wants for a client to replace her current annuities plan with another one. He presents her the new one in an incomplete and dishonest way, which means the contract seems far more appealing then the original one. The policy owner end up surrendering the original policy and replacing it with the new one. Which term describes what this agent did?
Twisting
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
Two individuals who are in the same risk and age class are charged different rates for their insurance policies due to an insignificant factor. What is this called?
Discrimination
An agent offers a client free tickets to a sporting event in exchange for the purchase of an insurance policy. What is the agent guilty of?
Rebating
All of the following are unfair claims settlement practices except?
Suggesting negotiations in settling the claim
