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PA Casualty and Insurance Exam Prep > Numbers And orders > Flashcards

Numbers And orders Flashcards

1
Q

buildings which have no residents or active business for more than how many days are considered unoccupied?

A

60

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2
Q

Buildings that are both unoccupied and have no personal or business property in them for more than how many days are considered vacant?

A

60

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3
Q

How many days is required to notify the mortgagee when a policy is cancelled?

A

10

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4
Q

Where is the loss payable clause located? In DICE?

A

Declarations page

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5
Q

How many days is required to submit written notice of cancellation due to “no payment of premium?”

A

10 days

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6
Q

How many days is required to submit written notice of cancellation due to “any reason?”

A

60 days, after in effect for more than 30 days of effect or 31 days of its anniversary date

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7
Q

How many days is required to submit written notice of cancellation due to “gross negligent acts?”

A

31 days

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8
Q

How many days is required to submit written notice of cancellation due to “operational changes?

A

31 days

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9
Q

How many days is required to submit written notice of cancellation due to “physical changes of insured property?

A

31 days

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10
Q

How many days is required to submit written notice of cancellation due to “insured’s conviction of crime?

A

31 days

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11
Q

How many days is required to submit written notice of cancellation due to “pursuit or discovery of fraud?”

A

31 days

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12
Q

How many days is required to submit written notice of cancellation for Private Residence?

A

45 days before effective date of cancellation or non renewal

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13
Q

How many days is required to submit written notice of cancellation due for Commercial policy?

A

60 days

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14
Q

A bankruptcy can stay on record for how many years? Unless the application job pays more than how much a year? Unless How much in life insurance credit?

A

10 years unless makes $75,000 a year or with $150,000 in life insurance

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15
Q

A bad credit report can stay on record for how many years? Unless the application job pays more than how much a year? Unless How much in life insurance credit?

A

7 years unless applicant makes more than $75,000 or have not than $150,000 in life insurance

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16
Q

How many years can an individual engaged in fraud and false statements go to jail for?

A

10 years

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17
Q

How many years can an individual with criminal felony record involving dishonesty or breach of trust shall be fined or imprisoned for?

A

5 years max

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18
Q

Any such person who willfully permits the participation described shall be fined or imprisoned for how many years?

A

5 years max

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19
Q

Any person who’s found guilty of fraud under these sections can be punished by fines up to how much? And jail time up to how long?

A

50,000 and 10 years

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20
Q

If the action endangers an insurers stability the maximum jail time is how long?

A

15 years

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21
Q

If a person is involved embezzlement, abstraction, purloin, the amount does not exceed how much? Jail time does not exceed how many year?

A

1 year, 5000 max

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22
Q

How many years is allowed to bring action against the insurer to legal action?

A

2

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23
Q

Which section of DICE is loss payee listed?

A

Declarations

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24
Q

according to TRIA, the us secretary must notifying congress within how many days after an act of terrorism?

A

15 days if it exceed 100 billion

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25
Q

For how many years is the US secretary required to collection terrorism premium?

A

2 years or by 2017.

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26
Q

What is the minimum age for producer license applicants?

A

18

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27
Q

How many hours is required when taking a certified prelicense insurance?

A

24 hours

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28
Q

Temporary license is valid for maximum of how many days?

A

180

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29
Q

What is the penalty amount for an individual who is not licensed to act as manager or general agent?

A

$1000 per day

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30
Q

License renewal is required how often?

A

Every 2 years

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31
Q

How much is license renewal fees for resident?

A

$55

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32
Q

How much is license renewal fee for non resident?

A

$100

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33
Q

How much is renewal fee for lapsed license?

Those who failed to renew on time

A

$165

34
Q

Licensees must report to department if taken to jurisdiction within how many days?

A

30 days

35
Q

When updating address, how many days are required for notice?

A

30

36
Q

How many hours are required for flood insurance training?

A

3 hours

37
Q

How many hours are required for long term care training?

A

8 hours and 4 hour freshest

38
Q

Commissioner notified individual of a hearing to be held not within how many days after the notice?

A

10 days

39
Q

Fines:

If failing to respond to written inquiry from the department of insurance?

A

$100 per day

40
Q

Fines of violation occurs if the person did know or should have known the act was a violation

A

Up to $5000 per violation, max of $50,000 within 6 months

41
Q

Fines for when a person did not know the act was a violation?

A

Up to $1000, max of $10,000 within 6 months

42
Q

Fines for violation if a cease and sexist order was in effect at the time of violation

A

Fine up to $10,000 for each

43
Q

How often can commissions exam a rating organization?

A

Every 5 years

44
Q

What are violations amount for rating organizations?

A

$50 each violation, $500 willful violation

45
Q

What is penalty amount for using unapproved policies?

A

$1000 each violation

46
Q

What is non monetary penalty for using unapproved policies?

A

Suspension of license for 1 year

47
Q

How often does examination of producers books and records occur?

A

At least once Every 5 years

48
Q

If an agency wants to terminate agent contacts, how many days notice is required to send notice to commissioner?

A

90 days

49
Q

How many days is required for commission to request for agency review?

A

30 days

50
Q

Funds are provided for an annual assessment of insurers under the Insurance Fraud Prevention Authority. How much are the funds?

A

8 million

51
Q

What are False statement penalties?

Fine
Imprisonment

A

Fine up to $50,000
Up to 10 years in prison
Up to 15 years in prison if harm others

52
Q

Property and casualty insurance guaranty association protects against claims payment by the insurer to the insured. What are the maximum benefits?

A

$300,000 per claimant

Unearned premiums up to $10,000/policy

53
Q

Pa casualty and property guaranty association only pays claims to those with net worth under how much?

A

$25 million

54
Q

Within how many days insured must submit proof of loss?

A

60 days

55
Q

What are the Limits of liabilities for motor vehicle?

A

Minimum:
15/30/5 split
35 single
$5000 medical

56
Q

What are the liability amounts for first part benefits?

Medical benefits
Loss of income
Accident death
Funeral benefits
Combinations
A 
Medical - 100,000
Loss of income $2500 to 50,000 per month
Accidental death-at least $25000
Funeral - at least 2500
Confirmation 177,500 up to 3 years after accident
57
Q

When are first person benefits due? What is interest if not paid within due date?

A

30 days due or 12% interest per year

58
Q

Workers compensation- how much must agricultural laborer make to be covered by WC?

A

Over $1200 in one year

59
Q

Workers compensation- how many days are required for agricultural laborer to be covered by WC?

A

30 or more days unless employers spouse or children under 18.

60
Q

How many years are firefighters heart and lungs covered for? Under WC?

A

4 years

61
Q

WC- how much are injured employees paid?

A

2/3 of wages

62
Q

How many weeks can employee receive total disability for?

According to total disability

A

104 weeks

63
Q

When does WC benefits begin? According to total disability

A

If less than 14 days, begins on 7th day.

If more than 14 days, begins 1st day

64
Q

According to partial disability, how many weeks are injured employees covered?

A

500 weeks

65
Q

WC- specifically body members loss: how many weeks covered for loss of an eye?

A

275 weeks

66
Q

WC- specifically body members loss: how many weeks covered for loss of index finger?

A

50 weeks

67
Q

WC- if employee dies for reason other than covered injuryC payment continues to following spouse and children. What are the percentages?

A

Spouse- if no children under 18. 51%

Spouse with one child 60%, spouse with 2 or more children 66.66%

No spouse, one child 33%, two children 42% and three 52%, four 62%, five 64%, six or more $66.66%

Dependent parent- partial/full 32-52%

Dependen5 sibling - one 22%, more 32%

Funeral expenses up to 3000

68
Q

WC- how much does window get paid for deceased spouse?

A

104 weeks in lump sum

69
Q

How much must subsequent injury fund must maintain?

A

$100,000

70
Q

In PIP- how much will be paid for non owned auto trailer?

A

$500

71
Q

In PIP, how much is paid for sound equipment?

A

$1000

72
Q

Transportation expenses- amount per day for transport cost? Amount to rent substitute vehicle?

A

$15/day or $450 per rental

73
Q

A pick up truck or van is covered under PAP but only under how many lbs? And not used for cargo or delivery.

A

10,000 lbs

74
Q

In PIP, how much is paid for sound equipment?

A

$1000

75
Q

Transportation expenses- amount per day for transport cost? Amount to rent substitute vehicle?

A

$15/day or $450 per rental

76
Q

A pick up truck or van is covered under PAP but only under how many lbs?

A

10,000 lbs

77
Q

What is payment for towing and labor costs under PAP?

A

$25 cost, $50 labor cost

78
Q

Extended non owned coverage in PAP covers which type of car? Company or personal?

A

Company car

79
Q

How long is the claims made policy’s discovery period?

A

1 year

80
Q

What is the basic amount of days for claims? For mini tail?

A

60 days within its termination

81
Q

How long is midi tail good for?

A

5 years within its termination

82
Q

What is cost of one time premium for full tail? And how many days?

A

Must be purchased 60 days before mini tail expires. Premium is 200%

PA Casualty and Insurance Exam Prep (3 decks)

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