Authorizing Act with Definitions

Section $1625($b$)(1)$ of the California Insurance Code reads, in part, that a property broker$-$agent licensee is a person authorized to act as an insurance agent, broker, or solicitor, and a fire and casualty broker$-$agent license is a license so to act.

Licenses to act as a property broker$-$agent include the type of property, which entitles the licensee to transact insurance coverage on the direct or consequential loss or damage to property of every kind.

Property broker$-$agent license authority is determined by what documents are submitted:

A $$10,000$ Bond of Insurance Broker, Form LIC $417-5,$ authorizes the licensee to act as an insurance broker. An insurance broker is a person who, for compensation and on behalf of another person, transacts insurance coverage on the direct or consequential loss or damage to property of every kind.

An Action Notice of Appointment authorizes the licensee to act as an insurance agent. An insurance agent is a person authorized by and on behalf of an insurer to transact all classes of insurance, except life, disability, or health. Pursuant to Section $2190\mathrm{.}22$ of Title $10$ of the California Code of Regulations, the Action Notice of Appointment must be submitted electronically. To submit appointments electronically contact the National Insurance Producer Registry $($NIPR$)$ and its authorized business partners for a list of approved partners.

An Action Notice of Solicitor, Form LIC $417-31,$ authorizes the licensee to act as an insurance solicitor. An insurance solicitor is a natural person employed to aid an insurance agent or insurance broker in transacting insurance coverage on the direct or consequential loss or damage to property of every kind.

The sponsoring business entity licensed in California completes a Business entity endorsement, which must be submitted through the California Department of Insurance $($CDI$)$ Business Entity Endorsement and Termination Online Service.

Refer to the passage above to answer questions $4547.$

$45.$ An electronically submitted Action Notice of Appointment gives a licensee authority to transact as

a$.$ health agent.

b$.$ property broker$-$agent.

c$.$ life and disability agent.

d$.$ property & casualty broker$-$agent.

$46.$ Which of the following is required to have broker authority?

a$.$ Solicitor Appointment.

b$.$ Electronic Action Notice of Appointment.

c$.$ Sponsoring business entity endorsement.

d$.$ Bond of Insurance.

$47.$ A property broker$-$agent licensee is a person authorized to act as a$($n$)$:

a$.$ sponsoring business entity.

b$.$ insurance agent, solicitor, and clerk.

c$.$ real$-$estate agent proxy.

d$.$ insurance agent, broker, or solicitor.