Series 1

1.11 Applicants for licensure must be:

a. 18

1.3 If the Commissioner denies an application for a producer's license, the applicant MAY make written demand for a hearing within:

a. 30 days after receiving notification of denial.

1.21 What is the maximum fine that may be imposed for a willful violation of a cease and desist order issued by the commissioner?

d. $25,000

1.6 For a producer who is licensed to write life insurance, the continuing education requirement is

d. 24 hrs. of credit during each renewal period.

1.1 A license will be considered used for writing controlled business if the total commissions earned from the controlled business exceed _____ of the commissions earned on all business written by the licensee during any 12-month period.

d. 25%

1.9 Every insurer doing business in Louisiana MUST be examined at least once every:

d. Five Years

1.4 A resident producer who moves from Louisiana to another state MUST file a change of address and provide certification from the new resident state within:

a. 30 days of the change of legal residence.

1.15 Jill is a licensed property and casualty producer. Her birthday is April 12th. When would she need to renew her insurance license?

a. By April 30th on odd numbered years.

1.18 To protect the consumer in regard to their credit history best describes:

a. Fair Credit Reporting Act

1.24 Promising to return a portion of a premium to a prospective insurance buyer is an illegal practice known as

a. Rebating

1.5 An applicant for a resident insurance producer license in Louisiana MUST be at least:

b. 18 years old

1.22 When a person or organization demands a hearing before the commissioner for a legitimate reason, the hearing must be held within:

b. 30 days

1.19 f the Insurance Commissioner becomes incapacitated, the commissioner's powers will be exercised by the

b. Chief Deputy Commissioner

1.16 A Property and Casualty insurance licenses are renewed:

b. In odd numbered years

1.13 To receive a Non-resident Producers License, the producer:

b. Is currently licensed as a resident and in good standing in their home state.

1.25 Joe is a licensed producer who landed a large insurance account thanks to his friend Fred. Which of the following statements is correct?

b. Joe can pay Fred as long as Fred is a licensed producer.

1.7 A licensed producer MUST file an application for renewal of the license every

b. Two years

1.14 If a nonapproved trade name is utilized for _______ days or more after being notified by the Commissioner to cease, the producer will be subject to an additional fine NOT to exceed ________ .

c. 10; $5,000

1.8 The Commissioner MAY issue a temporary insurance producer license without requiring an examination for up to

c. 180 days

1.23 For a controlled business to exist, a producer must not earn more than ________ of the aggregate commissions from any single account during a 12 month period.

c. 25%

1.10 The average amount of life insurance per family has grown at what rate since 1940?

c. 30%

1.12 A temporary insurance license may be issued to all of the following EXCEPT:

c. An appointee while the licensed producer is out of the country on vacation

1.2 In Louisiana, the Insurance Commissioner is:

c. Elected for a term of four years.

1.20 Concerning Unfair Trade Practices, charging different rates to persons in the same risk class best describes

c. Unfair Discrimination

1.17 Every authorized insurer MUST be examined by the commissioner at least once every

d. Five years