PA State Law Flashcards
Any time an agents appointment is terminated, an insurer must notify the commissioner within____ days
30 days
Any time an agents appointment is terminated, an insurer must notify the commissioner within____ days
30 days
An insurance producer may not act on behalf of an insurer unless the producer is________ by the insurer
Appointed by
I’m addition to the penalties previously imposed by the court, what is the maximum penalty the commissioner can impose ?
$5,000
Producer W uses aid when describing policies to consumers. The sales aids falsely suggest that certain contracts are special offers and would result in special advantages for the buyers. Which unfair insurance practice does this best describe ?
False advertising
If the commissioner has reason to believe any person is violating the law how many days notice of a hearing will they they given ?
30 days notice
What penalty is a commissioner able to impose?
Suspend or revoke a license or Certificate of Authority.
Additionally, along with imposing $5000 for each action in violation of cease and desist orders
What is coverage limit included in Pennsylvanias combination benefit?
$25,000 in accidental death
How much notice is required to be given to an insured if a premium is to be increased?
30 days notice
A company has a renewable policy through a
Pennsylvania insurer that plans to increase the policy premium at renewal. How much notice must the insurer provide to the policy holder?
30 days notice
What Is a false statement regarding insurance fraud?
The commissioner established a Section of insurance fraud to investigate and prosecute fraud
Insurance companies must update their Do Not Call list at least once every _____ days
31
What is a true statement regarding the regulation of insurance policy forms and rates in Pennsylvania?
A rate may be considered discriminatory if it clearly fails to reflect differences in expected losses and expenses
What is a true statement regarding the regulation of insurance policy forms and rates in Pennsylvania?
A rate may be considered discriminatory if it clearly fails to reflect differences in expected losses and expenses
A person who sells, solicits, or negotiates a contract of insurance in Pennsylvania with being licensed as an insurance producer has committed a __________
Third degree felony
I’d an insurer terminates the relationship between them and an insurance producer, how many days does the insurer to notify the licensee in writing at their home from the time the insurer notifies the department of insurance?
15 days written notice
A standard fire policy in Pennsylvania may be canceled by the insurer:
At anytime we with 5 days written notice
According to Pennsylvania laws, regulations, and required provisions what is ackrrect statement
Binders may be in force for up to 30 days
How many days can binders be in force for ?
Up to 30 days
The water and sewer backup endorsement on a Pennsylvania homeowners policy would cover __________
Up to $5,000 of coverage for physical loss caused by water from overflowing sump pump
What Is not considered an unfair method if competition?
Offering any discount of premium or other valuable consideration specified in the policy as an inducement to buy the contract .
According to Pennsylvania law, a dwelling policy would cover what scenario?
A loss to a covered dwelling with special provisions endorsement is repaired on an actual cash value basis.
What is not considered an unfair claim practice ?
Paying claims without conducting an investigation based upon all information
An insurer may cancel a private residential policy with ______ written notice for any reason during the first 60 days of a policy
30 days
What is a true statement In regards to the the cancelation of auto insurance in Pennsylvania
A policy may not be canceled because the insured was in one accident within 36- month period
Which of the following statements regarding the cancelation of auto insurance in Pennsylvania is correct?
A policy may not be canceled because the insured was in one accident within 36- month period
V is involved involved In a car accident that results in serious injuries, as defined by Pennsylvania personal auto policy. Which tort election option(s) would allow recovery for pain and suffering and other non monetary damages ?
Full tort and limited tort
An exclusive general agent is a licensee granted sole authority to act as a producer for a domestic insurer who produces business equal to or more than ______% of the surplus
25%
A licensee must provide a clear and conspicuous notice that accurately reflects its privacy policies and practices to the licensee’s customers, no later that when the licensee established customer relationship, and _______ thereafter during the continuation of the customer relationship.
Annually
An employer is liable for all of the following damages under workers compensation act, except:
An injury caused by the injured employee while intoxicated
Does Pennsylvania have a compulsory insurance law, where everyone must buy insurance?
No Pennsylvania does not
