Texas Property and Casualty License Practice Exam

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Study for the Texas Property and Casualty License Exam. Prepare with flashcards and multiple choice questions, each with hints and explanations. Get ready for your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the penalty for late license renewal if done within 90 days past expiration?

$25 late fee
$50 late fee
$100 late fee
No penalty

The correct answer is: $50 late fee

The penalty for late license renewal within 90 days past expiration is indeed a $50 late fee. This structure is designed to encourage timely renewal of licenses while still providing a grace period for those who may have missed the original deadline. The regulations set by the Texas Department of Insurance are clear in establishing this fee to manage the administrative costs associated with late renewals. The specifics of this penalty serve as a reminder to license holders about the importance of adhering to renewal schedules and help maintain the integrity and currency of licensure among professionals in the industry. Renewing after 90 days typically incurs a significantly higher penalty, reflecting the importance of keeping licensing up to date.