Free Insurance Regulation Practice Questions
New Mexico Property & Casualty exam (series 18-31) — 85 practice questions.
Subtopics: Superintendent authority, Admitted insurer, Surplus lines, Producer license, Appointment, Unfair claims, Rate regulation, Guaranty association, Fraud, Premium tax, Continuing education, Unfair settlement, Minimum age, Exam language, Exam exemptions, Lines of authority, Definitions, Broker vs agent, Insurance consultant, Nonresident license, Temporary license, License term, Place of business, CE repeat course, CE course approval, Records, Reporting actions, Commingling, Appointment verification, Appointment termination, Producer termination, Grounds for discipline, Surrendered license, During suspension, Fine in lieu, Cease and desist, Superintendent term, Superintendent powers, Foreign and alien insurers, Catastrophic claims, Complaint records, Unlicensed compensation, Premium without coverage, False advertising, Twisting, Value-added services, Sex discrimination, Boycott, coercion, intimidation, False statements, Fraud warning, Insurance fraud defined, Privacy, Surplus lines license, Federal fraud statute, Fair Credit Reporting Act, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Unfair claims settlement, Anti-money laundering, Fraud warning statements, Federal Insurance Office, Surplus lines regulation, Risk retention groups, Unfair trade practices, Fiduciary duties, Insurer solvency, Producer licensing, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. The New Mexico Superintendent of Insurance has authority to do all of the following EXCEPT:
Set the verdict in a private civil lawsuit between two drivers
The Superintendent administers the insurance code but does not decide private civil lawsuits between individuals.
2. An insurer that has received a certificate of authority to transact property and casualty business in New Mexico is referred to as:
An admitted (authorized) insurer
An admitted or authorized insurer holds a certificate of authority from the Superintendent to transact business in the state.
3. Surplus lines insurance in New Mexico is generally used to place coverage that:
Is not reasonably available from admitted insurers
Surplus lines allows placement with nonadmitted insurers when coverage is not reasonably available in the admitted market.
4. A person who sells commercial property and casualty insurance in New Mexico must hold:
A property and casualty producer license
Selling commercial P&C insurance requires a property and casualty producer license issued by the OSI.
All Property & Casualty topics
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.
