Numbers, Dollars, Days, and Dates

Question 1

Commissioner’s term of office

Answer 1

2 years

Question 2

Administration, attorney, or CPA experience required before applying to become Commissioner

Answer 2

5 years

Question 3

For agent to request hearing after receiving cease and desist order

Answer 3

30 days

Question 4

After receiving the request for Commissioner to hold C&D hearing

Answer 4

10 days

Question 5

Commissioner must conduct examinations of authorized insurers every

Answer 5

5 years

Question 6

Minimum age required for licensing

Answer 6

18

Question 7

Results of the licensing exam are valid for

Answer 7

12 months

Question 8

Max duration of temporary licenses

Answer 8

90 days

Question 9

No more than one temporary license can be issued to one person every

Answer 9

6 months

Question 10

Duration of reporting period

Answer 10

2 years

Question 11

After an revocation or denial you must wait _____ before filing again

Answer 11

5 years

Question 12

After felony conviction for breach of fiduciary duty before another license application can be filed

Answer 12

5 years

Question 13

Duration of agent’s license

Answer 13

2 years

Question 14

Time after license renewal date for agents to pay fees and complete CE before license expires

Answer 14

90 days

Question 15

CE to be completed during each reporting period

Answer 15

24 hours

Question 16

Minimum requirement for ethics training

Answer 16

2 hours

Question 17

Maximum agent licensing fee

Answer 17

$500

Question 18

Maximum fine for violating insurance code

Answer 18

$25,000

Question 19

Fine for willfully violating the Fair Credit Reporting Act

Answer 19

$2,500

Question 20

How long a producer must maintain records of CE courses

Answer 20

4 years