Licensing Flashcards
How long can a Commissioner issue a TEMPORARY PRODUCER license to a surviving spouse, business partner or employee if any one of these persons die, become disabled or called to active military service? [ hint…how many days are in 6 months]
6 months (180 days)
How many days must an insurer file a notice of a PRODUCER APPOINTMENT within the agency contract date or insurance application? [Whats half of a month?]
15 days
How soon must a Commissioner be notified of TERMINATION OF PRODUCER APPOINTMENT if the reason is for the producer’s license to be taken away or suspended? [ whats another term for 1 month?]
30 days
What is the minimum age to obtain a PRODUCERS LICENSE (insurance agent license)?
Age 18
How many hours are required for PRODUCER CONTINUING EDUCATION (CE) once every 2 years a.k.a. (biennially)? [ How many hours in a day]
24 hours ( 1day)
How many hours to study PRODUCER CONTINUING EDUCATION ETHICS? [ hint whats 180 minutes? ]
3 hours
How many hours to study PRODUCER CONTINUING EDUCATION LEGISLATIVE UPDATES? [ whats 120 minutes?]
2 hours
How many hours to study EARTHQUAKE CONTINUOUS EDUCATION (CE) for property license?
[ whats just 60 minutes?]
1 hour
How many hours to study CUSTOMER SERVICE REP for CONTINUOUS EDUCATION (CE)once every two years ? (Biennially) [Hint..whats roughly half a day?]
13 hours (roughly half a day)
How many hours to study CUSTOMER SERVICE REP ethics? [ whats another term for 180 minutes?]
3 hours
How many hours to study CUSTOMER SERVICE REP LEGISLATIVE UPDATES? [ what’s another term for 120 minutes?]
2 hours
How many hours to study CUSTOMER SERVICE REP EARTHQUAKE (CE) for property license? […hint…what’s another word for 60 minutes?]
1 hour
How many months does a producer (insurance agent) RENEW THEIR LICENSE?
24 months (2 years)
How soon should you report a CHANGE OF LEGAL NAME, ADDRESS, OR EMAIL ADDRESS?
30 days ( 1 month)
What is the MINIMUM FINE for each INSURANCE VIOLATION?
$100
What is the MAXIMUM FINE for each INSURANCE VIOLATION? [500+500]
$1,000
How long should insurance records be kept at least ? [ whats another term for 96 months? ]
3 years
How much should PRIZES or MERCHANDISE not exceed? [ hint 50+50 ]
$100
What percent of the total commission of all business done may not exceed in CONTROLLED BUSINESS ,written by the applicant or licensees during the same period? [ how much is a quarter of something?]
25%
What is the AGE of A MINOR that is deemed competent to take out life or disability insurance on themselves?
Age 15
What is the MINIMUM civil penalty for each violation of the UNFAIR CLAIMS SETTLEMENT PRACTICES ACT?
$100
What is the MAXIMUM civil penalty for each violation of the UNFAIR CLAIMS SETTLEMENT PRACTICES ACT?
$5,000
