PA State Law

Question 1

Any time an agents appointment is terminated, an insurer must notify the commissioner within____ days

Answer 1

30 days

Question 1

Any time an agents appointment is terminated, an insurer must notify the commissioner within____ days

Answer 1

30 days

Question 2

An insurance producer may not act on behalf of an insurer unless the producer is________ by the insurer

Answer 2

Appointed by

Question 3

I’m addition to the penalties previously imposed by the court, what is the maximum penalty the commissioner can impose ?

Answer 3

$5,000

Question 4

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 ?

Answer 4

False advertising

Question 5

If the commissioner has reason to believe any person is violating the law how many days notice of a hearing will they they given ?

Answer 5

30 days notice

Question 6

What penalty is a commissioner able to impose?

Answer 6

Suspend or revoke a license or Certificate of Authority.

Additionally, along with imposing $5000 for each action in violation of cease and desist orders

Question 7

What is coverage limit included in Pennsylvanias combination benefit?

Answer 7

$25,000 in accidental death

Question 8

How much notice is required to be given to an insured if a premium is to be increased?

Answer 8

30 days notice

Question 9

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?

Answer 9

30 days notice

Question 10

What Is a false statement regarding insurance fraud?

Answer 10

The commissioner established a Section of insurance fraud to investigate and prosecute fraud

Question 11

Insurance companies must update their Do Not Call list at least once every _____ days

Answer 11

31

Question 12

What is a true statement regarding the regulation of insurance policy forms and rates in Pennsylvania?

Answer 12

A rate may be considered discriminatory if it clearly fails to reflect differences in expected losses and expenses

Question 12

What is a true statement regarding the regulation of insurance policy forms and rates in Pennsylvania?

Answer 12

A rate may be considered discriminatory if it clearly fails to reflect differences in expected losses and expenses

Question 13

A person who sells, solicits, or negotiates a contract of insurance in Pennsylvania with being licensed as an insurance producer has committed a __________

Answer 13

Third degree felony

Question 14

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?

Answer 14

15 days written notice

Question 15

A standard fire policy in Pennsylvania may be canceled by the insurer:

Answer 15

At anytime we with 5 days written notice

Question 16

According to Pennsylvania laws, regulations, and required provisions what is ackrrect statement

Answer 16

Binders may be in force for up to 30 days

Question 17

How many days can binders be in force for ?

Answer 17

Up to 30 days

Question 18

The water and sewer backup endorsement on a Pennsylvania homeowners policy would cover __________

Answer 18

Up to $5,000 of coverage for physical loss caused by water from overflowing sump pump

Question 19

What Is not considered an unfair method if competition?

Answer 19

Offering any discount of premium or other valuable consideration specified in the policy as an inducement to buy the contract .

Question 20

According to Pennsylvania law, a dwelling policy would cover what scenario?

Answer 20

A loss to a covered dwelling with special provisions endorsement is repaired on an actual cash value basis.

Question 21

What is not considered an unfair claim practice ?

Answer 21

Paying claims without conducting an investigation based upon all information

Question 22

An insurer may cancel a private residential policy with ______ written notice for any reason during the first 60 days of a policy

Answer 22

30 days

Question 23

What is a true statement In regards to the the cancelation of auto insurance in Pennsylvania

Answer 23

A policy may not be canceled because the insured was in one accident within 36- month period

Question 24

Which of the following statements regarding the cancelation of auto insurance in Pennsylvania is correct?

Answer 24

A policy may not be canceled because the insured was in one accident within 36- month period

Question 25

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 ?

Answer 25

Full tort and limited tort

Question 26

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

Answer 26

25%

Question 27

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.

Answer 27

Annually

Question 28

An employer is liable for all of the following damages under workers compensation act, except:

Answer 28

An injury caused by the injured employee while intoxicated

Question 29

Does Pennsylvania have a compulsory insurance law, where everyone must buy insurance?

Answer 29

No Pennsylvania does not