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Texas TX General Lines- Property and Casualty (Law and Regulations) Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers)$12.99
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TX General Lines - Property and Casualty (Law and Regulations).pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/TX%20General%
TX General Lines - Property and Casualty
(Law and Regulations)
1. Licensing Purpose
Answer For the protection of the public of this state.
2. Individuals must satisfy the following to be eligible to get a license
Answer -18 years of age or older
-Resident of state
-Passed exam and pay fees
-Filed application and submitted a fingerprint card
-Not license for the purpose of selling to themselves, family, or employees
3. Refuse to issue any license if
Answer -Material misrepresentation or fraud in applica- tion
-Record of dishonesty or misappropriation of customer funds
-Is incompetent or lacks moral turpitude
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,TX General Lines - Property and Casualty (Law and Regulations).pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/TX%20General%
-Record of suspension or revocation in other jurisdiction
-Convicted of felony
4. Types of licenses
Answer -Agent
-Adjuster
-Surplus Lines Broker
-Managing General Agent
-Non-resident Agent
-Temporary
-Conditional
5. Agent
Answer An individual or business entity authorized by and insurer to solicit appli-
cations or to negotiate insurance on its behalf.
6. Agents represent
Answer the insurer, not the insured
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7. Adjuster
Answer Any person who adjusts, investigates or negotiates settlement of claims arising
under insurance contracts on behalf of the insurer or the insured.
8. To be licensed as an adjuster
Answer -Must be at least 18 years old
-Pass Texas Adjuster's examination
9. Surplus Lines Broker
Answer Any person who, as independent contractor, procures insurance on behalf of
clients wth Surplus Lines insurers such as Lloyds of London.
10. To obtain Surplus Lines Broker license
Answer -First hold a Property and Casualty Agent license
11. Managing General Agent
Answer A full time person who is responsible for recruiting and training a local
insurance sales staff for either a L&H or P&C
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