TEXAS PROPERTY AND CASUALTY LIMITED LINES TEST.pdf file:///C:/Users/HP/Desktop/eewwww/TEXAS%20PROPERTY%2
TEXAS PROPERTY & CASUALTY LIMITED LINES
TEST
1. How many hours of completion does a licensee have to have to renew his or her
license
ANS 10
2. Deductibles
ANS Are used to prevent covered small claims, it helps by reducing the premium
3. Agent
ANS An individual authorized by an insurer to solicit app or to negotiate insur- ance on its
behalf.
4. Temporary Licenses
ANS Commissioner May issue this license without examination. May be obtained before a person
passes the state exam if the person completes a 40-hour course before applying for the license
or within 14 days after applying for the license.
Good for no more than 90 days.
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,TEXAS PROPERTY AND CASUALTY LIMITED LINES TEST.pdf file:///C:/Users/HP/Desktop/eewwww/TEXAS%20PROPERTY%2
5. Conditional Licenses
ANS May be issued without having to wait for the results of a criminal history search (
fingerprint check )
If something comes up app will be revoked and shall refuse to issue permanent license.
6. Non resident Agent
ANS If properly licensed in their home state, may work in any other state with that license (if
allowed) or must pay the proper fees, file proper forms, and furnish a letter of good standing
from their home state.
7. Indemnity
ANS Restore and insure to the same financial condition they were in prior to the loss.
8. Peril
ANS A cause of loss. Ex
fire, theft, flood..
9. Indirect loss
ANS The consequence of the direct loss. Ex
staying in a hotel after your house burned down.
10. Subrogation
ANS "Right of recovery " When an insured is involved Ina n accident, and another part is at
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