PA State Law Section Flashcards
Pre-licensing education requirement
24 hours
Minimum age to obtain producer’s license
Age 18
Length of temporary insurance producer license. Without requiring an examination if a licensed producer dies, becomes disabled, or enters active military service
180 Days
Producer licenses are issued for a term of…
2 years
A lapsed producer’s license may be reinstated within how many years of the license renewal date…
1 year
Producer’s time to notice the Commissioner of change of address, administrative actions, or criminal charges…
30 days
Requirement for each 2 - Year CE term
24 hours
Continuing Education, includes how many hours of ethics
3 hours
Number of hours that may be carried forward to the next CE term…
24 hours
The Commissioner must give _____ days’ notice of a hearing
10 days
Maximum producer fine per violation of the insurance code
$5,000.00
Unfair Competition, Act, or Practice civil penalties, $_____ per violation for non-willful violations
$1,000.00
Unfair Competition, Act, or Practice civil penalties, $_____ aggregate penalty for non-willful violations
$10,000.00
Unfair Competition, Act, or Practice civil penalties, $_____ per violation for willful violations
$5,000.00
Unfair Competition, Act, or Practice civil penalties, $_____ aggregate penalty for willful violations
$50,000.00
The Commissioner must examine rating organizations at least once every how many years…
5 years
Rates must be filed for ____ days before use
30 days
Life, accident, or health insurance policy forms must be filed + approved by the Commissioner. Once forms have been filed, they are considered approved after ____ days unless the Commissioner rejects them.
30 days
The Commissioner must conduct an examination of every licensed insurer at least once every ____ years
5 years
The amount of valuable consideration, other than money, an insurance producer may offer or give to an insured or a prospective insured, on an annual aggregate basis, that doesn’t violate rebating statute
$100.00
A person found guilty of insurance fraud is subject to the following civil penalties, $_____ for the first violation
$5,000.00
A person found guilty of insurance fraud is subject to the following civil penalties, $_____ for the second violation
$10,000.00
A person found guilty of insurance fraud is subject to the following civil penalties, $_____
for each subsequent violation.
$15,000.00
Insurers must acknowledge receipt of a claim within how many working days
10 days
Insurers must respond to an inquiry from the insurance dept. within how many working days…
15 days
Insurers must provide an insured with an explanation if a claim investigation cannot be completed with how many days…
30 days
The Association’s max. payment amount for a claim is…
$300,000.00
The Association’s max. payment for a return of premium is up to…
$10,000.00
For a commercial policy, the notice of a cancellation or nonrenewal must be given how many days in advance for nonrenewal…
60 days
For a commercial policy, the notice of a cancellation or non renewal must be given how many days in advance for nonpayment of premium…
15 days
For a commercial policy, the notice of a cancellation or non renewal must be given how many days in advance for material misrepresentation of the risk insured…
15 days
At least how many days advance notice must be given to the insured of an increase in commercial renewal premium…
30 days
for a residential policy, a notice of cancellation must be given how many days in advance…
30 days
For a residential policy…basic property insurance will continue for how many days after the named insured’s death or until the sale of the property, whichever comes first…
180 days
Binders for temp. fire insurance may be for a period of up to how many days…
30 days
FAIR plan cancellation notices must be given to any policyholder at least how many days prior to the cancellation…
20 days
Employers of agricultural workers must provide workmen’s compensation coverage for their employees if they pay $___ or more to one employee during the calendar year…
$1,200.00
Employers of agricultural workers must provide workmen’s compensation coverage for their employees if they employ one employee for ___ days or more…
30 days
Disability benefit payments begin after a
___-day waiting period
7 day
If the disability persists _____ days or more, the employee is entitled to retroactive disability benefits dating to the first day of disability
14 days
Total disability benefits are what percentage of the employee’s average weekly earnings
662 2/3 %
Partial disability benefits are what percentage of the difference between the employee’s weekly earnings at the time of injury and the employee’s actual weekly earnings during the period of partial disability
662 2/3 %
Burial expenses are up the how much…
$7,000.00
Notice of injury must be made by the injured employee to the employer within how many days…
21 days
The first compensation payment must be paid not later than ___ days after the employer has notice of knowledge of the employee’s disability…
21 days
conducting business in accordance with current rules and laws set by government regulatory agencies and the courts…
Compliance
Standards of conduct and moral judgement
Ethics
