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Insurance Regulation Quiz 5
15問 • 3ヶ月前
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    問題一覧

  • 1

    How often must the Commissioner examine rating organizations?

    Every 5 years

  • 2

    Which of the following is an example of a producer being involved in an unfair trade practice of rebating?

    Telling a client that their first premium will be waived if the client purchases the policy from the producer

  • 3

    If an insurer terminates a producer's appointment, the Commissioner must be notified within how many days?

    30

  • 4

    Insurance producers that do not have company appointments are considered a/an

    Representative of the consumer

  • 5

    A producer's license must be renewed

    Biennially

  • 6

    Under the Fair Credit Reporting Act, if a consumer challenges the accuracy of the information contained in a consumer or investigative report, the reporting agency must

    Respond to the consumer's complaint

  • 7

    Which of the following would be considered an unfair claims settlement practice?

    Advising the insured that if the claim goes to arbitration, the insured will receive less than what is currently being offered

  • 8

    When the Commissioner suspects that a person is violating an insurance law or other regulation, what can be issued that would order the person to stop committing the act of violation?

    Cease and Desist Order

  • 9

    What is the maximum allowed value of a gift that an agent can give to an insured without violating the regulation on rebating?

    $100

  • 10

    Licensees must make a report of any action taken against them in another jurisdiction or by another governmental agency in Pennsylvania within how many days of the final disposition of the matter?

    30

  • 11

    What is the civil penalty for the first violation of the Pennsylvania Insurance Fraud Prevention Act?

    $5,000

  • 12

    A licensee serving in the military is unable to fulfill her continuing education requirement. What would the licensee have to do to renew the license?

    The licensee may submit a request to the department to have requirements and fees waived. The department will then determine if the request is permissible

  • 13

    Any licensed person whose activities affect interstate commerce and who knowingly makes false material statements related to the business of insurance may be imprisoned for up to

    10 years

  • 14

    An agent offers their client free tickets to a sporting event in exchange for the purchase of an Insurance policy. Assuming the tickets were not specified in the policy, the agent would be considered guilty of

    Rebating

  • 15

    The state Insurance Code identifies all of the following as prohibited acts that can cause suspension, revocation or denial of an insurance producer license EXCEPT

    Committing any misdemeanor

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    問題一覧

  • 1

    How often must the Commissioner examine rating organizations?

    Every 5 years

  • 2

    Which of the following is an example of a producer being involved in an unfair trade practice of rebating?

    Telling a client that their first premium will be waived if the client purchases the policy from the producer

  • 3

    If an insurer terminates a producer's appointment, the Commissioner must be notified within how many days?

    30

  • 4

    Insurance producers that do not have company appointments are considered a/an

    Representative of the consumer

  • 5

    A producer's license must be renewed

    Biennially

  • 6

    Under the Fair Credit Reporting Act, if a consumer challenges the accuracy of the information contained in a consumer or investigative report, the reporting agency must

    Respond to the consumer's complaint

  • 7

    Which of the following would be considered an unfair claims settlement practice?

    Advising the insured that if the claim goes to arbitration, the insured will receive less than what is currently being offered

  • 8

    When the Commissioner suspects that a person is violating an insurance law or other regulation, what can be issued that would order the person to stop committing the act of violation?

    Cease and Desist Order

  • 9

    What is the maximum allowed value of a gift that an agent can give to an insured without violating the regulation on rebating?

    $100

  • 10

    Licensees must make a report of any action taken against them in another jurisdiction or by another governmental agency in Pennsylvania within how many days of the final disposition of the matter?

    30

  • 11

    What is the civil penalty for the first violation of the Pennsylvania Insurance Fraud Prevention Act?

    $5,000

  • 12

    A licensee serving in the military is unable to fulfill her continuing education requirement. What would the licensee have to do to renew the license?

    The licensee may submit a request to the department to have requirements and fees waived. The department will then determine if the request is permissible

  • 13

    Any licensed person whose activities affect interstate commerce and who knowingly makes false material statements related to the business of insurance may be imprisoned for up to

    10 years

  • 14

    An agent offers their client free tickets to a sporting event in exchange for the purchase of an Insurance policy. Assuming the tickets were not specified in the policy, the agent would be considered guilty of

    Rebating

  • 15

    The state Insurance Code identifies all of the following as prohibited acts that can cause suspension, revocation or denial of an insurance producer license EXCEPT

    Committing any misdemeanor