Texas General Lines Property And Casualty Exam Questions & Answers

Transacting Insurance {Ans: Any activity related to the negotiation, sale or purchase of insurance}Texas Motor Vehicle Financial Responsibility Law {Ans: Every person operating motor vehicle must posses evidence of current financial responsibility like: -Auto liability policy -Binder or Certificate of Self-Insurance -Surety Bond or Certificate of Deposit -Insurance ID}Types of licenses: {Ans: -Agent -Adjuster -Surplus Lines Broker -Managing General Agent -Non-resident Agent -Temporary -Conditional}Benefits provided {Ans: Every eligible injured employee and dependents of an employee who is killed by an accident from employment is entitle to compensation for: -medical expenses -nurse and hospital services -medicines -funeral expenses}When do calls end? {Ans: 9 pm}The notice must include: {Ans: -Specific facts for the reasons -Notice of insured's right to contest the insurer's decision -Notice of the insured's possible eligibility for Texas Automobile Insurance Plan -Refund of unearned premium}The Commissioner may suspend, revoke permanently or refuse to renew any license after {Ans: a hearing, if requested}Board of Commissioners {Ans: Asses each member company as necessary to pay the obligations of the Fund}To obtain Surplus Lines Broker license: {Ans: -First hold a Property and Casualty Agent license}Licensing Purpose {Ans: For the protection of the