Chapter 6: Texas statutes and rules pertaining to life and health insurance
On its advertisement, a company claims that it has funds in its possession that are infact not available for the payment of losses or claims. The company is guilty of
Misrepresentation
Noone whos license has been revoked can recieve another license in texas for
5 years
In texas the states continuing education requirement
consists of completing 24 hours of CE each biennium
All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT
dividends from a mutual insurer
Anyone who violates the insurance code of texas may be fined up to
25,000
On a participating insurance policy issued by a mutual insurance company, dividends paid to policy holders are
Not taxable since the IRS treats them as a return of a portion of the premium paid
Which of the following terms best describes making false statements about the financial condition of any insurer that are intended to injurer any person engaged in the business of insurance?
Defamation
Which of the following insurers are owned by stockholders?
Stock
All insurers that provide life or accident and health insurance coverage in texas must be members of what association?
The life and Health insurance guaranty association
An agent's license will terminate within how how many days from the due date an obligatory fees and continuing education requirements?
90 days
When transacting business in this state an insurer formed under the laws of another country is known as a/an
Alien insurer
An insurer must acknowlege reciept of a notice of claim within how many days?
15 days
Which of the following is a TRUE statement about a temporary liscense issued in this state
it can only be issued once in any 6 month period
All of the following are requirements for an individual to be liscensed EXCEPT
provide a financial statement
All of the following are true regarding rebates EXCEPT
rebates are allowed if it's in the best interest of the client
