stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Texas State Statutes Flashcards | StudBud
Explore
/
Texas State Statutes
Texas State Statutes
40 terms
·
StudBud Administration
·
48 plays
Licensing Exam Prep
Flashcards
40 cards
F
Practice quiz
P
Host live
L
Questions
40
Answers
1
An insurance company must notify the insured when they use credit information for rating purposes
False
True
2
How many hours of CE's do you need for Flood insurance?
1 hour
4 hours
2 hours
3 hours
3
How often does the insurance license expire?
Every 4 years
Never
Every 2 years
Every year
4
How are refunds paid out?
On a Short Rate Basis
On a Flat basis
On a Pro-rated basis
On a sliding scale
5
What is the state minimum for auto coverage?
10/20/10 with $10,000 PIP
25/50/25 with $25, 000 PIP
30/60/25 with $2500 PIP
30/60/25 with $5000 PIP
6
How long is a temporary license valid for?
90 days
30 days
60 days
180 days
7
If not eligible for TWIA, what other option is there?
Texas Insurance act of 1968
Texas Citizens Corporation
Texas Fair Plan Association
Texas Instruments
8
Which is an Unfair Trade Practice?
Fair coverage provided
Accurate Financial Statements
Intimidation
Fair rates
9
Which would NOT cause the termination of your insurance license?
Honesty in Business
Illegal holding of money
Intentional Material Misstatements
Fraud
10
Which is not a duty of the P & C Insurance Legislative Oversight Committee?
Monitor progress of p & c insurance regulation reform
Review recommendations for legislation
Review conduct of the insurer
Revoke insurance licenses
11
How long do you have to keep record of your CE's?
3 years
4 years
7 years
5 years
12
What is the weekly average based on for worker's compensation?
Last 20 weeks
Last 5 weeks
Last 13 weeks
Last 18 weeks
13
Who admininsters Texas Insurance Laws and Regulations?
Commissioner of Insurance
Commissioner of Agriculture
Office of Insurance Regulation
Department of Financial Services
14
How many days notice should there be for cancellation of a policy?
30 days
20 days
60 days
10 days
15
How long do you have to wait before can file for a license if yours has been revoked?
10 years
3 years
7 years
5 years
16
Premium Discounts can be offered for which of the following?
Using windborne debris-resistant products
Adding an endorsement
Insulating concrete form system
Scheduling an item
17
When was the Texas Windstorm Insurance Association established?
1971
1972
1973
1974
18
A stock insurer is owned by whom?
The Federal Government
Executives
Stockholders
Policy Holders
19
Which type of insurer is permitted to transact insurance in Texas?
Authorized Insurer
Unauthorized Insurer
20
Who solicits an application for life, accident, health or property & casualty insurance?
Officer of Insurance Regulation
Insurance agent
Finance Manager
Public Adjuster
21
By Texas law, can a lender require the coverage limit to be more than the replacement cost of the home?
No
Yes
22
Mutual Insurer is owned by whom?
State and Local Government
The Federal Government
Policy Holders
Stock Holders
23
How many hours of continuing education are you required to take?
30 hours
18 hours
36 hours
24 hours
24
Which is not a qualification for obtaining your license in Texas?
Pass the Exam
Get Fingerprinted
Be at lease 18 years old
Complete a Pre-licensing course
25
You need 2 hours of which course for continuing education?
Flood Insurance
Liability and You
Ethics and Consumer Protection
Insurance Basics
26
How many days notice must be given for premium increase?
45 days
30 days
60 days
90 days
27
Who acts on behalf of the insured in negotiating for the settlement of a claim?
Public Adjuster
Navigator
Insurance Agent
Commissioner
28
Which would cause an insurance license to be terminated?
No Felony Convictions
Truthfully advising terms of a contract
Engaging in Fradulent acts
Not engaging in dishonest acts
29
What must you notify if it changes for your license?
Business Address
Phone Number
Email
Home Address
30
Which is NOT an Unfair Trade Practice?
False information and advertising
Defamation of Insurer
Misrepresentations of policy contracts
Accurate Information provided
31
For loss of home by fire, how shall the insured be paid out?
By the full amount of coverage A
By Actual Cash Value
By a prorated amount
By Stocks and Dividends
32
Is rebating permitted in Texas?
Yes, of course
No way, Jose'
33
Which policy pays out on an ACV basis?
HOA+
HO3
HOA
HOB
34
What percentage does the agent have to place non-controlled business?
35%
25%
75%
50%
35
What is the grace period for lenders to provide policy payment?
90 days
60 days
30 days
No grace period
36
What is NOT considered unfair discrimination?
Based on Religion
Based on Gender
Based on Age
Based on Size of home
37
Who is the person who provides advice for reducing risks to a person seeking to obtain or renew property & casualty ins?
Finance Manager
Public Adjuster
Risk Manager
Navigator
38
Which insurer is formed under the laws of Texas?
Foreign
Alien
Domestic
None of those
39
How long do books, accounts and records pertaining to premium need to be kept?
5 years
7 years
2 years
3 years
40
A Navigator helps find what kind of insurance?
Health
Liability
Auto
Home
