Texas Auto Insurance Exam (2022/2023) Already Passed

Texas Auto Insurance Exam (2022/2023) Already Passed An example of a direct cause would be? ✔✔Water Damage as a result of fire fighters putting out a fire. This can be found on a schedule part of an insurance agreement. ✔✔name of the insured , location of property , and premium and effective date of coverage An insurance agency that conducts business in its home state is called? ✔✔Domestic Business If a Texas Insurance Company is set up business in a foreign County it is known as? ✔✔Alien Business These all fall under ethics except? ✔✔License Fees In order for a foreign agency to practice insurance in this state they must have? ✔✔A certificate of Authority The commissioner may issue a temporary license with? ✔✔An appointment from an Insurer Who is not required to obtain a license? ✔✔an insured who refers people to the company for no fee Stock companies do not have? ✔✔stocks that pay dividends Mutual policies are owned by? ✔✔Policy Holders The commissioner is? ✔✔The person who enforces the insurance laws The commissioner has to review all domestic insurance policies no later than? ✔✔Once every 5 years Once an agent makes an appointment it is good for a certain period of time? ✔✔Indefinitely This is an example of insurance fraud ✔✔a person who makes a false claim on a policy If an agent is told that he can do something that is not in his duties he is operating under the power of? ✔✔Expressed The fair credit reporting act is set up so that? ✔✔to give consumers a fair credit report Selling a policy by giving false information is best known as? ✔✔Missrepresentaion The limits liability are best defined as ✔✔The most the Insured can collect per occurrence Obligations of an agent involve ✔✔collecting premiums the Term that best describes anyone that is covered on an auto policy is ✔✔Insured Before the commissioner can take action against an agent he must? ✔✔Give a written statement to the agent a person with a limited liability license may share his commission with? ✔✔Another agent with a limited liability license