PA APPRAISERS LICENSE EXAMPREP STUDY
GUIDE 2026 FULL QUESTIONS AND CORRECT
ANSWERS
▶ When the superintendent believes an agent is causing substantial and
material harm, the superintendent has the authority to Answer: issue a
cease and desist order against the agent
▶ Which of the following statements is CORRECT about a Buyer's Guide?
Answer: It's content must be approved by the superintendent
▶ No existing agent's license will be revoked until Answer: the agent has
been afforded a right to a hearing on the charges
▶ What is the term used when exchanging a new policy for one already in
force? Answer: replacement
▶ A deliberate lie by an insured to the insurer to obtain a lower premium is
an example of Answer: fraud
▶ Who may terminate an agent's appointment? Answer: insurer
▶ An agent must submit notification of a change of business address within
a MAXIMUM of how many days after the change? Answer: 30
▶ What is a certificate of authority? Answer: The license required for an
insurer to conduct business in the state
▶ Before a licensed agent is eligible to transact insurance sales, they must
be Answer: appointed by an insurance company
▶ When an agent is replacing an existing ordinary life insurance policy, the
agent must take all of the following actions EXCEPT Answer: obtain the
beneficiary's signature on a summary of all policies to be replaced
GUIDE 2026 FULL QUESTIONS AND CORRECT
ANSWERS
▶ When the superintendent believes an agent is causing substantial and
material harm, the superintendent has the authority to Answer: issue a
cease and desist order against the agent
▶ Which of the following statements is CORRECT about a Buyer's Guide?
Answer: It's content must be approved by the superintendent
▶ No existing agent's license will be revoked until Answer: the agent has
been afforded a right to a hearing on the charges
▶ What is the term used when exchanging a new policy for one already in
force? Answer: replacement
▶ A deliberate lie by an insured to the insurer to obtain a lower premium is
an example of Answer: fraud
▶ Who may terminate an agent's appointment? Answer: insurer
▶ An agent must submit notification of a change of business address within
a MAXIMUM of how many days after the change? Answer: 30
▶ What is a certificate of authority? Answer: The license required for an
insurer to conduct business in the state
▶ Before a licensed agent is eligible to transact insurance sales, they must
be Answer: appointed by an insurance company
▶ When an agent is replacing an existing ordinary life insurance policy, the
agent must take all of the following actions EXCEPT Answer: obtain the
beneficiary's signature on a summary of all policies to be replaced
