Free Insurance Regulation Practice Questions
New Mexico Casualty exam (series 18-29) — 90 practice questions.
Subtopics: Felony consent, Exam retakes, Exam exemptions, Lines of authority, Definitions, Broker, Insurance consultant, Nonresident move, Temporary license, Late continuation, Address change, CE carryover, CE reporting penalty, CE extensions, Records, Embezzlement, Appointment required, Appointment continuation, Termination notice to OSI, Grounds for discipline, Denial notice, Suspension period, General penalty, Administrative penalty process, Cease and desist, Superintendent appointment, Emergency powers, Examinations, Domestic insurer, Unfair claims, Commission to former owner, Surplus lines fees, Misrepresentation, Gifts limit, Unfair discrimination, False claims, Fraud immunity, Fraud penalty for licensees, Surplus lines license, Fair Credit Reporting Act, Fraud and false statements, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Motor Carrier Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Rebating, Twisting, CAN-SPAM Act, Guaranty association, Federal Insurance Office, Risk retention groups, Purchasing groups, Surplus lines (NRRA), Surplus lines insurers, Rate regulation, Rating laws, Advisory organizations, Unfair claims practices, Unfair trade practices, Misappropriation of premiums, Fraud reporting, Motor carrier financial responsibility, ERISA bonding, Producer licensing concepts, Agent vs broker, Gap insurance licensing, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. Under the New Mexico licensing rule, an applicant convicted of a felony involving dishonesty or a breach of trust may be licensed as a resident producer only:
With the written consent of the superintendent
Citing 18 U.S.C. 1033, the rule bars licensing such a person as a resident producer unless the person has the written consent of the superintendent.
2. A New Mexico candidate has failed the same licensing examination four times. When may the candidate test again?
Six months after the last failed exam
An applicant who has failed the same examination four times may not retest until at least six months after the date of the last failure.
3. Which professional designation exempts an applicant from the New Mexico property or casualty producer examination?
Chartered Property Casualty Underwriter (CPCU)
The rule waives the exam for property or casualty producer applicants who hold the CPCU designation; the CLU applies to life and health.
4. Under New Mexico law, the casualty line of authority covers:
Coverage against legal liability
The casualty line is coverage against legal liability, including liability for death, injury, disability or damage to real or personal property.
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
