#1
Which regulatory body oversees insurance companies in Texas?
Texas Department of Insurance (TDI)
ExplanationRegulates insurance companies in Texas.
#2
What is the minimum liability coverage required for auto insurance in Texas?
$25,000
ExplanationMinimum auto insurance liability coverage.
#3
In Texas, what type of insurance coverage is mandatory for employers who have one or more employees?
Workers' compensation insurance
ExplanationMandatory coverage for employers with employees.
#4
Which of the following insurance policies is NOT required by law in Texas?
Homeowners insurance
ExplanationHomeowners insurance not legally required in Texas.
#5
What does TWIA stand for in the context of Texas insurance?
Texas Windstorm Insurance Association
ExplanationAcronym for Texas Windstorm Insurance Association.
#6
What is the minimum liability coverage required for bodily injury per person in Texas auto insurance?
$15,000
ExplanationMinimum coverage for bodily injury per person.
#7
Which of the following is NOT a type of insurance commonly offered in Texas?
Wildfire insurance
ExplanationWildfire insurance not commonly offered.
#8
What is the purpose of the Texas Windstorm Insurance Association (TWIA)?
To provide insurance coverage for windstorm and hail damage in certain coastal areas
ExplanationProvides coverage for windstorm and hail damage in coastal areas.
#9
What is a 'captive insurance company' in the context of Texas insurance laws?
An insurance company owned by another insurance company
ExplanationInsurance company owned by another insurer.
#10
What is the purpose of the Texas Fair Access to Insurance Requirements (FAIR) Plan?
To offer insurance coverage for individuals who are unable to obtain it through standard insurance markets
ExplanationProvides insurance for those unable to get it through standard markets.
#11
Which type of insurance policy in Texas typically covers damage from events like fire, theft, and vandalism?
Homeowners insurance
ExplanationCovers damage from fire, theft, vandalism, etc.
#12
What is the purpose of the Texas Windstorm Insurance Fund (TWIF)?
To provide insurance coverage for windstorm and hail damage in coastal areas
ExplanationProvides coverage for windstorm and hail damage in coastal areas.
#13
What is the purpose of the Texas Health Insurance Risk Pool?
To provide health insurance coverage for high-risk individuals who cannot obtain coverage elsewhere
ExplanationOffers health insurance to high-risk individuals.
#14
Which department in Texas handles consumer complaints related to insurance?
Texas Department of Insurance (TDI)
ExplanationTDI handles consumer complaints about insurance.
#15
Which of the following is NOT regulated by the Texas Department of Insurance?
Federal flood insurance
ExplanationFederal flood insurance not regulated by TDI.
#16
What is the purpose of the Texas Windstorm Insurance Inspections Association (TWIIA)?
To conduct inspections for insurance claims related to windstorm damage
ExplanationConducts inspections for windstorm damage claims.
#17
Which of the following is NOT typically covered by standard homeowners insurance in Texas?
Flood damage
ExplanationFlood damage not typically covered by homeowners insurance.
#18
What is the primary role of the Texas Insurance Code?
To establish standards for insurance policy language
ExplanationEstablishes standards for insurance policy language.
#19
What is the purpose of the Texas Windstorm Insurance Advisory Association?
To advise the government on windstorm insurance policies
ExplanationAdvises government on windstorm insurance.
#20
What is the purpose of the Texas Medical Liability Insurance Underwriting Association?
To provide malpractice insurance coverage for physicians
ExplanationOffers malpractice coverage for physicians.
#21
Which of the following is NOT a factor that can affect auto insurance premiums in Texas?
Religious affiliation
ExplanationReligious affiliation does not affect auto insurance premiums.