Podcast
Questions and Answers
How long must a licensee maintain evidence of course completion?
How long must a licensee maintain evidence of course completion?
Which of the following must a license holder report to the department?
Which of the following must a license holder report to the department?
What role does an agent play when interacting with clients on behalf of an insurer?
What role does an agent play when interacting with clients on behalf of an insurer?
Which action is a key responsibility of an agent concerning premiums collected?
Which action is a key responsibility of an agent concerning premiums collected?
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What is a critical aspect of an agent's duty when dealing with a potential insurance applicant?
What is a critical aspect of an agent's duty when dealing with a potential insurance applicant?
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Study Notes
Records Maintenance
- Licensees must provide course completion proof to the Texas Department of Insurance (TDI) if requested.
- Proof of completion must be kept for at least four years.
- Acceptable proof includes completion certificates, transcripts, passing grades/reports from continuing education programs, or letters of hours taught from a sponsor's representative.
Notification to the Department
- License holders must inform the department of address changes, felony convictions, or administrative actions taken by a state financial or insurance regulator.
Producer Responsibilities
- Agents act as fiduciaries, representing the insurer to clients.
- Agents are responsible for keeping funds separate.
- Agents need to promptly send premiums to the insurer.
- Agents are required to report material facts to the insurer.
- Agents must understand clients' needs.
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Description
This quiz covers the essential responsibilities of insurance licensees, including record maintenance, notification requirements to the Texas Department of Insurance, and the fiduciary duties of agents. Participants will learn about proof of course completion, the importance of communication with the department, and the obligations of agents towards both clients and insurers.
