Property and Casualty PA Questions with
correct answers
All |of |the |following |are |requirements |to |be |licensed |in |PA |except:
-Complete |a |four-week |long |pre-licensing |course
-Pass |the |appropriate |exam
-Apply |for |a |license |with |the |insurance |department |and |pay |the |appropriate |fee
-Have |your |fingerprints |taken |and |submitted |- |ANSWER-Complete |a |four-week |long |pre-licensing
|course
All |of |the |following |statements |are |correct |except:
-An |applicant |has |up |to |one |year |to |be |licensed |after |successfully |passing |the |exam
-The |fee |for |the |PA |Property-casualty |license |is |$55 |for |two |years
-An |Insurance |Agency |does |not |need |to |be |licensed |if |they |are |a |corporation
-You |must |be |at |least |18 |years |of |age |to |be |licensed |- |ANSWER-An |Insurance |Agency |does |not |need
|to |be |licensed |if |they |are |a |corporation
Which |statement |is |false?
-A |resident |producer |must |both |live |and |work |in |Pennsylvania
-The |maximum |limit |for |a |temporary |license |is |180 |days
-An |insurance |company's |license |is |called |a |certificate |of |authority
-A |producer |must |be |licensed |to |sell, |solicit, |or |negotiate |contracts |of |insurance |- |ANSWER-A |resident
|producer |must |both |live |and |work |in |Pennsylvania
Which |time |period |is |incorrect?
-30 |days |to |report |a |change |of |address
-30 |days |to |report |a |criminal |conduct |of |being |charged
-60 |days |to |reinstate |a |lapsed |license |retroactively
-Four |years |to |complete |24 |hours |of |continuing |education |- |ANSWER-Four |years |to |complete |24 |hours
|of |continuing |education
,Possible |insurance |department |penalties |for |insurance |law |violations |include |all |of |the |following
|except:
-Fines
-Revoking |a |license
-Increased |requirement |of |CE |hours
-Issuance |of |an |order |to |cease |and |desist |- |ANSWER-Increased |requirement |of |CE |hours
All |of |the |following |are |general |duties |and |powers |of |the |insurance |commissioner |except:
-Prosecute |the |individual |in |a |court |of |law
-Collect |fees
-Investigate |complaints
-Regulate |rates |- |ANSWER-Prosecute |the |individual |in |a |court |of |law
Rate |regulatory |law |requires |rates |to |be |all |of |the |following |except:
-Not |excessive
-Equal |for |all |policy |holders
-Adequate
-Not |unfairly |discriminatory |- |ANSWER-Equal |for |all |policy |holders
Which |statement |is |false?
-The |insurance |commissioner |is |appointed |by |the |governor |
-All |rates |must |be |filed |and |approved |before |they |can |be |used
-Maximum |jail |term |for |an |insurance |violation |is |six |months
-Illegal |inducement |is |doing |business |with |unlicensed |persons |- |ANSWER-Illegal |inducement |is |doing
|business |with |unlicensed |persons
Which |activity |would |be |a |prohibited |practice |under |the |unfair |claims |practices |law?
-Failing |to |act |promptly |on |a |communication |dealing |with |a |claim
,-Reporting |the |claim |to |the |insurance |company |online
-Denying |payment |of |a |claim |that |is |not |covered |by |the |policy
-Assigning |an |adjuster |to |investigate |the |claim |before |payment |- |ANSWER-Failing |to |act |promptly |on |a
|communication |dealing |with |a |claim
Which |activity |would |not |be |a |prohibited |practice |under |the |Unfair |Trade |Practice |Law?
-Intentionally |misrepresenting |coverage |terms |in |the |policy
-Forging |a |client's |signature |on |an |application
-Not |remembering |your |clients |birthday
-Committing |a |felony |- |ANSWER-Not |remembering |your |clients |birthday
Misrepresentation |call |be |all |of |the |following |except:
-Twisting
-Sharing |part |of |your |own |commission |with |a |client
-Misrepresenting |benefits, |terms |or |conditions
-Misrepresenting |in |advertisements |- |ANSWER-Sharing |part |of |your |own |commission |with |a |client
All |of |the |following |are |Unfair |Trade |Practices |activities |except:
-Comingling |of |funds
-Rebating
-Defamation
-Boycott, |coercion, |or |intimidation |- |ANSWER-Comingling |of |funds
The |Fair |Credit |Reporting |Act |requires |all |of |the |following |except:
-Notification |of |a |credit |investigation |at |time |of |application
-A |copy |of |the |report |sent |to |the |client
-The |name |and |address |of |the |credit |reporting |agency |given |to |the |client
-Notice |must |be |in |writing |- |ANSWER-A |copy |of |the |report |sent |to |the |client
, The |Gramm-Leach-Bliley |Act |requires |all |of |the |following |except:
-Annual |privacy |notification |given |to |all |customers
-Customers |given |the |option |to |opt |out |of |sharing |info |to |others
-Insurers |must |protect |the |security |of |financial |information
-An |annual |report |must |be |sent |to |the |federal |government |- |ANSWER-An |annual |report |must |be |sent
|to |the |federal |government
Which |statement |is |false |concerning |the |Federal |Terrorism |Risk |Insurance |Act |(TRIA)?
-It |applies |to |all |lines |of |insurance, |both |personal |and |commercial
-The |premium |must |be |shown |to |the |client |with |the |opportunity |to |reject |coverage
-It |provides |coverage |for |acts |of |terrorism
-The |federal |government |shares |in |payment |of |covered |losses |with |insurance |industry |- |ANSWER-It
|applies |to |all |lines |of |insurance, |both |personal |and |commercial
Before |federal |funds |are |made |available |under |TRIA |the |following |must |certify |an |act |of |terrorism
-The |president |& |congress
-Secretary |of |the |Treasury |and |Secretary |of |Homeland |Security
-The |attorney |general |and |congress
-The |FBI |- |ANSWER-Secretary |of |the |Treasury |and |Secretary |of |Homeland |Security
The |Motor |Carrier |act |of |1980 |was |passed |to |deal |with:
-Unlicensed |trucks |traveling |interstate
-Uninsured |cargo |traveling |interstate
-Transporting |hazardous |cargo |causing |pollution |accidents
-Unlicensed |drivers |of |motor |vehicles |- |ANSWER-Transporting |hazardous |cargo |causing |pollution
|accidents
Under |the |motor |carrier |act |of |1980 |the |minimum |limit |of |liability |required |when |transporting
|hazardous |cargo |is:
-$500,000
correct answers
All |of |the |following |are |requirements |to |be |licensed |in |PA |except:
-Complete |a |four-week |long |pre-licensing |course
-Pass |the |appropriate |exam
-Apply |for |a |license |with |the |insurance |department |and |pay |the |appropriate |fee
-Have |your |fingerprints |taken |and |submitted |- |ANSWER-Complete |a |four-week |long |pre-licensing
|course
All |of |the |following |statements |are |correct |except:
-An |applicant |has |up |to |one |year |to |be |licensed |after |successfully |passing |the |exam
-The |fee |for |the |PA |Property-casualty |license |is |$55 |for |two |years
-An |Insurance |Agency |does |not |need |to |be |licensed |if |they |are |a |corporation
-You |must |be |at |least |18 |years |of |age |to |be |licensed |- |ANSWER-An |Insurance |Agency |does |not |need
|to |be |licensed |if |they |are |a |corporation
Which |statement |is |false?
-A |resident |producer |must |both |live |and |work |in |Pennsylvania
-The |maximum |limit |for |a |temporary |license |is |180 |days
-An |insurance |company's |license |is |called |a |certificate |of |authority
-A |producer |must |be |licensed |to |sell, |solicit, |or |negotiate |contracts |of |insurance |- |ANSWER-A |resident
|producer |must |both |live |and |work |in |Pennsylvania
Which |time |period |is |incorrect?
-30 |days |to |report |a |change |of |address
-30 |days |to |report |a |criminal |conduct |of |being |charged
-60 |days |to |reinstate |a |lapsed |license |retroactively
-Four |years |to |complete |24 |hours |of |continuing |education |- |ANSWER-Four |years |to |complete |24 |hours
|of |continuing |education
,Possible |insurance |department |penalties |for |insurance |law |violations |include |all |of |the |following
|except:
-Fines
-Revoking |a |license
-Increased |requirement |of |CE |hours
-Issuance |of |an |order |to |cease |and |desist |- |ANSWER-Increased |requirement |of |CE |hours
All |of |the |following |are |general |duties |and |powers |of |the |insurance |commissioner |except:
-Prosecute |the |individual |in |a |court |of |law
-Collect |fees
-Investigate |complaints
-Regulate |rates |- |ANSWER-Prosecute |the |individual |in |a |court |of |law
Rate |regulatory |law |requires |rates |to |be |all |of |the |following |except:
-Not |excessive
-Equal |for |all |policy |holders
-Adequate
-Not |unfairly |discriminatory |- |ANSWER-Equal |for |all |policy |holders
Which |statement |is |false?
-The |insurance |commissioner |is |appointed |by |the |governor |
-All |rates |must |be |filed |and |approved |before |they |can |be |used
-Maximum |jail |term |for |an |insurance |violation |is |six |months
-Illegal |inducement |is |doing |business |with |unlicensed |persons |- |ANSWER-Illegal |inducement |is |doing
|business |with |unlicensed |persons
Which |activity |would |be |a |prohibited |practice |under |the |unfair |claims |practices |law?
-Failing |to |act |promptly |on |a |communication |dealing |with |a |claim
,-Reporting |the |claim |to |the |insurance |company |online
-Denying |payment |of |a |claim |that |is |not |covered |by |the |policy
-Assigning |an |adjuster |to |investigate |the |claim |before |payment |- |ANSWER-Failing |to |act |promptly |on |a
|communication |dealing |with |a |claim
Which |activity |would |not |be |a |prohibited |practice |under |the |Unfair |Trade |Practice |Law?
-Intentionally |misrepresenting |coverage |terms |in |the |policy
-Forging |a |client's |signature |on |an |application
-Not |remembering |your |clients |birthday
-Committing |a |felony |- |ANSWER-Not |remembering |your |clients |birthday
Misrepresentation |call |be |all |of |the |following |except:
-Twisting
-Sharing |part |of |your |own |commission |with |a |client
-Misrepresenting |benefits, |terms |or |conditions
-Misrepresenting |in |advertisements |- |ANSWER-Sharing |part |of |your |own |commission |with |a |client
All |of |the |following |are |Unfair |Trade |Practices |activities |except:
-Comingling |of |funds
-Rebating
-Defamation
-Boycott, |coercion, |or |intimidation |- |ANSWER-Comingling |of |funds
The |Fair |Credit |Reporting |Act |requires |all |of |the |following |except:
-Notification |of |a |credit |investigation |at |time |of |application
-A |copy |of |the |report |sent |to |the |client
-The |name |and |address |of |the |credit |reporting |agency |given |to |the |client
-Notice |must |be |in |writing |- |ANSWER-A |copy |of |the |report |sent |to |the |client
, The |Gramm-Leach-Bliley |Act |requires |all |of |the |following |except:
-Annual |privacy |notification |given |to |all |customers
-Customers |given |the |option |to |opt |out |of |sharing |info |to |others
-Insurers |must |protect |the |security |of |financial |information
-An |annual |report |must |be |sent |to |the |federal |government |- |ANSWER-An |annual |report |must |be |sent
|to |the |federal |government
Which |statement |is |false |concerning |the |Federal |Terrorism |Risk |Insurance |Act |(TRIA)?
-It |applies |to |all |lines |of |insurance, |both |personal |and |commercial
-The |premium |must |be |shown |to |the |client |with |the |opportunity |to |reject |coverage
-It |provides |coverage |for |acts |of |terrorism
-The |federal |government |shares |in |payment |of |covered |losses |with |insurance |industry |- |ANSWER-It
|applies |to |all |lines |of |insurance, |both |personal |and |commercial
Before |federal |funds |are |made |available |under |TRIA |the |following |must |certify |an |act |of |terrorism
-The |president |& |congress
-Secretary |of |the |Treasury |and |Secretary |of |Homeland |Security
-The |attorney |general |and |congress
-The |FBI |- |ANSWER-Secretary |of |the |Treasury |and |Secretary |of |Homeland |Security
The |Motor |Carrier |act |of |1980 |was |passed |to |deal |with:
-Unlicensed |trucks |traveling |interstate
-Uninsured |cargo |traveling |interstate
-Transporting |hazardous |cargo |causing |pollution |accidents
-Unlicensed |drivers |of |motor |vehicles |- |ANSWER-Transporting |hazardous |cargo |causing |pollution
|accidents
Under |the |motor |carrier |act |of |1980 |the |minimum |limit |of |liability |required |when |transporting
|hazardous |cargo |is:
-$500,000
