Texas Property & Casualty Final Exam.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/Texas%20Prope
Texas Property & Casualty Final Exam
Questions & Answers
1. Which of the following licensees works for a person who is licensed as a
property and casualty agent and explains coverage, describes insurance
products and quotes premium rates?
Answer Insurance service representative
2. Steven was having lunch with a group of agents when he made some false
statements about a competitor's financial condition in order to hurt their
reputation. In this case, Steven has committed which of the following acts?
Answer Defamation
3. Which of the following protects policyholders and claimants of impaired or
insolvent insurers that cannot pay their claims or benefits?
Answer Texas Property and Casualty Insurance Guaranty Association
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4. Janet has been continuously licensed as an agent in Texas for the past 25
years. Her friend Steven is a nonresident licensee in Texas and every
year completes his state's continuing education requirements. When they ask
you for advice on meeting the Texas continuing education requirements, you
inform them that
Answer
Neither Steve nor Janet needs to comply with Texas's continuing education
requirements
5. Which of the following statements BEST describes the transfer of risk via an
insurance contract?
Answer Not all risks are transferable via insurance contracts
6. Angela cannot obtain a homeowners insurance policy from a licensed
insurance company inTexas. From which entity will she likely be able to obtain
coverage?
Answer Fair Housing Plan
7. Kent stated on his application for property insurance that the roof of the
building being insured had been recently replaced. In fact, the replacement
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occurred 12 years ago. Kent made a false statement of a material fact, which is
also known as a
Answer Misrepresentation
8. The Texas Department of Insurance receives a written complaint about an
insurer that prompts an investigation. The Department uncovers evidence of an
elaborate money-laundering operation and determines that an undercover
investigation is necessary to obtain enough evidence to pursue a conviction of
the company's officers.Which of the following statements is true?
Answer TDI can withhold any notices to the complaining party until the investigation
is completed
9. Alex asks your advice seeking objective information about the financial
reliability of an insurance company from which he is considering the purchase of
insurance.You might suggest that he
Answer Check the company's financial rating from an established rating organization
10. Many large organizations self-insure up to a specific limit but buy insur-
ance to cover losses beyond that limit. Setting up a self-insurance program is an
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example of which method of handling risk?
Answer Risk retention
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