Insurance Licensing Requirements
14 Questions
1 Views

Insurance Licensing Requirements

Created by
@RenewedExuberance

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

According to Title 22 - Insurance §1671, how often should a licensed claims adjuster file an application for renewal of their license?

  • Every four years
  • Every two years (correct)
  • Every three years
  • Every year

    • What lines of authority can a claims adjuster receive qualification for?

  • Property and casualty only
  • Workers' compensation only
  • Crop only
  • All of the above (correct)

    • What is the penalty for failing to file a change of address, legal name, or submitted information within the required time?

  • $10 fine per violation
  • $100 fine per violation
  • $50 fine per violation (correct)
  • $25 fine per violation

    • According to the text, what is the maximum fine that a claims adjuster may be subject to for using a nonapproved trade name?

    <p>$5000</p> Signup and view all the answers

    According to the text, what is the time limit for a licensed claims adjuster to reinstate their lapsed license?

    <p>24 months</p> Signup and view all the answers

    According to the text, what must a claims adjuster do prior to using or changing any trade name?

    <p>Notify the commissioner of insurance</p> Signup and view all the answers

    According to the text, who may the commissioner of insurance contract with to perform licensing functions?

    <p>National Association of Insurance Commissioners (NAIC) and its affiliates</p> Signup and view all the answers

    True or false: A claims adjuster license can be issued without meeting the requirements of this Part.

    <p>False</p> Signup and view all the answers

    True or false: A claims adjuster license remains in effect as long as the request for renewal has been filed and the fee has been paid.

    <p>True</p> Signup and view all the answers

    True or false: A claims adjuster must notify the commissioner of insurance within thirty days of any change in address or legal name.

    <p>True</p> Signup and view all the answers

    True or false: A claims adjuster is required to notify the commissioner of insurance prior to using a trade name other than their legal name?

    <p>True</p> Signup and view all the answers

    True or false: If a claims adjuster continues to use a nonapproved trade name after being notified by the commissioner of insurance to cease using it, they may be subject to an additional fine?

    <p>True</p> Signup and view all the answers

    True or false: A licensed claims adjuster is subject to R.S. 22:1921 et seq., which relates to insurance fraud?

    <p>True</p> Signup and view all the answers

    True or false: A licensed claims adjuster who allows their license to lapse for more than twenty-four months must fulfill the requirements for issuance of a new license?

    <p>True</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser