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Details Title: Texas Life and Health Description: Texas Statutes and Rules Common to Life and Health Insurance Total Flash Cards: 33 Created: 08/06/2004 15:11:41	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term appoints;2 year;feb 1;odd numbered Definition The Governor ______________ the Commissioner for a _______________ term ending on _________ of each ____________ year. Term 10 years;5 years Definition The Commissioner must have at least ____________ experience with at least ____________________ of the experience in the field of insurance or insurance regulation. Term citizen Definition The Commissioner must be a ________________of Texas. Term once per year;3 years;3 years Definition The Commissioner will examine newly formed insurance companies _____________ during their first ____________ of operation and then at least once every ____________ thereafter. Term cease and desist;unlicensed Definition A ________ may be issued if the Commissioner believes an _______________ person is engaging in the sale of insurance. Term contest;review;30 days Definition A person charged may request a hearing to __________ or ___________ the charges within ____________ of the order. Term 25,000;complete restitution Definition Any one violating a cease and desist order may be fined up to ___________and/or directed to make _________________________ to the injured parties. Term certificate of authority Definition A __________________________ is required to transact insurance business in Texas. Term denied;revoked;10 to 20 days Definition If a certificate of authority is ________________or _____________, the company is granted a hearing within ______________ after the Commissioners decision. Term agent Definition Any person transacting insurance is considered an ___________________. Term licensed;appointed;authorized Definition An agent must be _____________ and _____________________ by at least one insurance company _______________ to transact insurance in Texas. Term individuals;partnerships;corporations;banks and non resident agents Definition Agents' licenses may be issued to _______________, ____________, and _____________. Term $25,000;error;omissions;negligent act Definition Banks and corporations can pay up to _______________ because of an ____________, _______________, ______________. Term non-resident agent Definition A ____________________ is domiciled in a state other than Texas. Term reciprocal;waive Definition The Commissioner may enter into a _______________________ agreement with officials of other states to _________________ the written exam if. Term Temporary;90 days Definition ___________________ licenses can be issued for an effective period of _________________ without requiring a written exam. Term life insurance councilor Definition A ________________________ must have been licensed for more than ___________________ as an insurance agent. Term renewing;temporary license;CLU;ticket selling agent;credit life/health Definition Agents are exempt from taking the written exam if they are ______________ their license, have a ___________________________, hold a _________________________ designation, are ______________________ of a public carrier, or sell only ______________ in conjunction with loan transactions. Term represent Definition Agents may _________________ more than one insurance company at time. Term 30 hours Definition Agents must complete _______________ of continuing education within each reporting period, unless exempt. Term deny;discipline Definition The Commissioner may _____________ an application or __________________ a license holder. Term denied;refused;revoked;one year Definition No applicant or licensee whose license has been Term authorized Definition An agent's license will be suspended if they do not have an outstanding appointment with an _________________ insurance company. Term embezzles;converts premiums;fraud Definition If an agent _______________________ or fraudulently _________________________ to their own use they have committed ______________. Term unfair and deceptive claim settlement practices Definition An insurance company knowingly and intentionally not paying for losses incurred by the insured has committed _______________________________________________. Term untrue;deceptive;misleading Definition It is illegal to advertise or circulate any materials that are _______________, _____________________________, or ________________. Term misrepresentation Definition Company _______________ is illegal. Term unlawful Definition Defamation is ______________________ information. Term offer;acceptance Definition The _____________and/or ____________________ of rebates is illegal. Term boycott;coercion;intimidation Definition The intent to restrict free trade or create a monopoly by ___________, ____________ or _________________ is illegal. Term Controlled business Definition ________________________ is writing business on one's own life, immediate family, relatives, business associates. Term current;active licenses;authorization Definition Agents may share commissions as long as both hold ______________________________________, _______________________________ and have proper _________________ for the lines of business. Term not Definition The Texas Life, Accident, Health, and Hospital Services Guaranty Association may ________ be used to advertise insurance products.