1. Exam Prep
  2. New Mexico
  3. Personal Lines
  4. New Mexico Producer Regulation

Free New Mexico Producer Regulation Practice Questions

New Mexico Personal Lines exam — 51 practice questions.

Subtopics: License lines, Personal lines authority, Fiduciary, Rebating, Misrepresentation, Continuing education, Replacement disclosure, Unfair discrimination, Privacy, Recordkeeping, Credit information, Guaranty association, Cancellation reasons, Free look property, Complaint handling, Part A liability, Part B medical payments, Part C UM, Part D collision, Other than collision, Covered persons liability, Newly acquired auto, Temporary substitute, Supplementary payments, Liability exclusion intentional, Liability exclusion livery, Split limits, Transportation expenses, Towing and labor, Loss settlement physical damage, Duties after accident, Territory, Covered auto definition, Trailers coverage, Non-owned auto, Rented auto coverage, Glass breakage, Exclusion racing, Exclusion few wheels, Exclusion auto business, Exclusion owned property, Exclusion no reasonable belief, Out of state coverage, Other insurance non-owned, UM dispute resolution, Custom equipment limit, Appraisal physical damage, No-fault PIP, Right to recover, Collision settlement, Total loss settlement

Sample questions & answers

1. To sell New Mexico homeowners and auto insurance a producer generally needs a license in which line of authority?

Property and casualty

Personal lines such as homeowners and auto fall under the property and casualty (or personal lines) authority.

2. New Mexico offers a limited personal lines license that authorizes a producer to sell:

Property and casualty insurance sold to individuals and families for noncommercial purposes

A personal lines license authorizes selling property and casualty coverage to individuals and families for noncommercial purposes.

3. Premiums a New Mexico personal lines producer collects from clients must be:

Held in a fiduciary capacity and remitted to the insurer

Premium funds are fiduciary money that must be properly handled and remitted to the insurer.

4. A New Mexico producer who offers a prospective auto client free concert tickets to induce the purchase is engaging in:

Rebating unless specifically permitted

Offering inducements not specified in the policy is rebating and is generally prohibited unless allowed by law.

All Personal Lines topics

Practice: New Mexico Producer Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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.