Types of Licenses (AZ-L)

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Question 1 of 9

1. Question

Which of the following means a person required to be licensed to sell, solicit, or negotiate insurance?

Producer

Consultant

Broker

Insurer

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Question 2 of 9

2. Question

Which of the following means a person whose home state is not Arizona?

Alien

Nonresident

Guest

Nonadmitted

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Question 3 of 9

3. Question

Which one of the following individuals needs an adjuster license?

A licensed insurance producer who adjusts or assists in the adjustment of losses arising under policies procured through the insurance producer

A salaried employee of an insurer or of a managing general agent

An independent claim adjuster that works as an independent contractor and not as a "salaried employee" of the insurance company

An independent contractor retained by a licensed adjuster or a person for the sole purpose of providing technical assistance in connection with a claim

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Question 4 of 9

4. Question

Which of the following is a person who, on behalf of an owner, and for a fee, commission, or other valuable consideration, offers or attempts to negotiate life settlement contracts between an owner and a provider?

Surplus lines broker

Surplus lines producer

Property and casualty producer

Life settlement broker

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Question 5 of 9

5. Question

Which of the following statements is NOT true?

If a business entity has an insurance license, the insurance producers that work in that agency do not need insurance licenses.

A business entity insurance producer shall have at least one insurance producer individually licensed for the appropriate lines of authority in each office or place of business in which the business entity transacts insurance in this state.

The insurance license application of a business entity shall also include the names of all members, officers, and directors of the business entity.

Business entity means any corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity except an individual or sole proprietorship.

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Question 6 of 9

6. Question

Which of the following is the best example of a need for surplus lines insurance?

Larry Linebacker is a professional football player and wants a $10,000,000 disability income policy in case he suffers an injury that ends his career.

Lucy wants to insure her 2014 Lexus.

Lonnie owns a condo and wants homeowners insurance.

Libby wants to buy a $100,000 life insurance policy.

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Question 7 of 9

7. Question

Surplus lines insurance must be procured through who?

A surplus lines broker

A life settlement broker

A personal lines producer

A surplus lines producer

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Question 8 of 9

8. Question

The director may issue which type of license for not more than 180 days without requiring an examination if the director deems this license is necessary for the servicing of an insurance business?

Probationary insurance producer license

Temporary insurance producer license

Surplus lines broker license

Business entity license

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Question 9 of 9

9. Question

Who can solicit applications for and issue policies by means of mechanical vending machines?

Only a licensed vending machine broker who is authorized by the director

Only a licensed vending machine broker who is authorized by the National Association of Insurance Commissioners (NAIC)

Only a licensed insurance producer who is authorized by the director

Only a licensed insurance producer who is authorized by the National Association of Insurance Commissioners (NAIC)

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