1|Page
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which of the following is NOT a remedy available to the PA
commissioner of insurance for committing an unfair
method of competition?
-imprisonment
-cease and desist order
-suspension of license
-revocation of license - Answer-imprisonment is not a
punishment for committing an unfair method of
competition
you cannot be arrested for committing an unfair method of
competition
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
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-failing to promptly acknowledge communications about
claims
-failing to promptly settle a claim for which liability is
uncertain
-appealing from an arbitration award in favor of an insured
to compel the insured to accept a lower settlement
-failing to affirm or deny coverage within a reasonable time
after completing a claim investigation - Answer-ailing to
promptly settle a claim for which liability is uncertain is
NOT an unfair claims settlement practice
Jeff is a licensed insurance producer in both PA and NY.
he is charged with embezzlement in NY, and his first
pretrial hearing is set for March 1. He must notify the PA
commissioner of insurance within how many days of this
hearing? - Answer-Jeff has 30 days to notify the PA
commissioner of insurance of the disciplinary action being
taken against him
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
-failing to promptly acknowledge communications about
claims
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-failing to promptly settle a claim for which liability is
uncertain
-offering to settle claims for less than due to encourage
litigation
-raising policy defenses to reduce a claim - Answer-failing
to promptly settle a claim for which liability is uncertain is
not an unfair claims settlement practice
Stacy is a captive agent for best rates insurance company.
Her agency contract gives her permission to print and use
business cards with the company's logo and submit
applications for its policy. What type of authority does
stacy have to take these actions? - Answer-Stacy has
express authority due to the contract between her and the
insurance company specifically allowing her act in such a
way
to boost her sales at the end of the year, agent Trudy
started offering potential clients a $250 cash gift card in
exchange for purchasing a life insurance policy. which
ethical sales practice has she violated?
-twisting
-churning
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-rebating
-false information - Answer-rebating
its illegal to offer gifts in exchange for the purchase of an
insurance policy
which of the following is not a power granted to the PA
commissioner of insurance?
-licensing producers and companies
-enforcing insurance laws
-issuing regulations to administer insurance laws
-prosecuting individuals for violating insurance laws -
Answer-the PA commissioner of insurance CANNOT
prosecute individuals for violating insurance laws
which is not necessary to create a legal contract?
-consideration
-offer
-warranty
webce test || Most Recent Exam Actual Complete Real
Verified Exam Questions And Correct Answers
(Verified Answers) Already Graded A+ | Guaranteed
Success!! Newest Exam!!!
which of the following is NOT a remedy available to the PA
commissioner of insurance for committing an unfair
method of competition?
-imprisonment
-cease and desist order
-suspension of license
-revocation of license - Answer-imprisonment is not a
punishment for committing an unfair method of
competition
you cannot be arrested for committing an unfair method of
competition
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
,2|Page
-failing to promptly acknowledge communications about
claims
-failing to promptly settle a claim for which liability is
uncertain
-appealing from an arbitration award in favor of an insured
to compel the insured to accept a lower settlement
-failing to affirm or deny coverage within a reasonable time
after completing a claim investigation - Answer-ailing to
promptly settle a claim for which liability is uncertain is
NOT an unfair claims settlement practice
Jeff is a licensed insurance producer in both PA and NY.
he is charged with embezzlement in NY, and his first
pretrial hearing is set for March 1. He must notify the PA
commissioner of insurance within how many days of this
hearing? - Answer-Jeff has 30 days to notify the PA
commissioner of insurance of the disciplinary action being
taken against him
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
-failing to promptly acknowledge communications about
claims
,3|Page
-failing to promptly settle a claim for which liability is
uncertain
-offering to settle claims for less than due to encourage
litigation
-raising policy defenses to reduce a claim - Answer-failing
to promptly settle a claim for which liability is uncertain is
not an unfair claims settlement practice
Stacy is a captive agent for best rates insurance company.
Her agency contract gives her permission to print and use
business cards with the company's logo and submit
applications for its policy. What type of authority does
stacy have to take these actions? - Answer-Stacy has
express authority due to the contract between her and the
insurance company specifically allowing her act in such a
way
to boost her sales at the end of the year, agent Trudy
started offering potential clients a $250 cash gift card in
exchange for purchasing a life insurance policy. which
ethical sales practice has she violated?
-twisting
-churning
, 4|Page
-rebating
-false information - Answer-rebating
its illegal to offer gifts in exchange for the purchase of an
insurance policy
which of the following is not a power granted to the PA
commissioner of insurance?
-licensing producers and companies
-enforcing insurance laws
-issuing regulations to administer insurance laws
-prosecuting individuals for violating insurance laws -
Answer-the PA commissioner of insurance CANNOT
prosecute individuals for violating insurance laws
which is not necessary to create a legal contract?
-consideration
-offer
-warranty
