PENNSYLVANIA LAWS AND RULES PERTINENT TO
INSURANCE EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
Twisting
Misrepresenting a policy for the purpose of inducing a policyholder to change or replace an existing
policy is known as
Given written consent by the state insurance regulatory agency
John has a criminal record in which he was convicted of a felony that involved dishonesty. Under Federal
law, how would John be able to engage in insurance transactions?
Shareholders
Which of the following is the Pennsylvania Insurance Department NOT responsible for?
30
Within how many days must a producer report to the Commissioner any charges made against him/her?
the licensee has committed insurance-related fraud or dishonesty
A licensee can have his/her license denied or revoked by the Commissioner if
Producer needs to be appointed by that insurer
A licensee can have his/her license denied or revoked by the Commissioner if
, Provide policyowner protection if an insurer becomes insolvent
What is the purpose of the Pennsylvania Life and Health Insurance Guaranty Association?
unfair claim settlement
When an insurance company consistently fails to provide reasonable explanations for the denial of a
claim, this is called a(n)
$5,000 per violation
A producer that willfully violates any provision of Pennsylvania Insurance law may be imposed to a
maximum penalty set by the Commissioner at
Notify Commissioner
What is the required action to be taken by a Pennsylvania licensee before operating under an assumed
business name?
Incontestability provision
Which of following provisions protects a Pennsylvania policyowner from an innocent mistake made on
the application over 2 years ago?
Confirm previous exam scores
In Pennsylvania, which of the following is NOT something a licensee must do to renew their insurance
license?
an insurer's A.M. Best rating
All of these are considered a form of advertising EXCEPT
Recommending insurers
INSURANCE EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
Twisting
Misrepresenting a policy for the purpose of inducing a policyholder to change or replace an existing
policy is known as
Given written consent by the state insurance regulatory agency
John has a criminal record in which he was convicted of a felony that involved dishonesty. Under Federal
law, how would John be able to engage in insurance transactions?
Shareholders
Which of the following is the Pennsylvania Insurance Department NOT responsible for?
30
Within how many days must a producer report to the Commissioner any charges made against him/her?
the licensee has committed insurance-related fraud or dishonesty
A licensee can have his/her license denied or revoked by the Commissioner if
Producer needs to be appointed by that insurer
A licensee can have his/her license denied or revoked by the Commissioner if
, Provide policyowner protection if an insurer becomes insolvent
What is the purpose of the Pennsylvania Life and Health Insurance Guaranty Association?
unfair claim settlement
When an insurance company consistently fails to provide reasonable explanations for the denial of a
claim, this is called a(n)
$5,000 per violation
A producer that willfully violates any provision of Pennsylvania Insurance law may be imposed to a
maximum penalty set by the Commissioner at
Notify Commissioner
What is the required action to be taken by a Pennsylvania licensee before operating under an assumed
business name?
Incontestability provision
Which of following provisions protects a Pennsylvania policyowner from an innocent mistake made on
the application over 2 years ago?
Confirm previous exam scores
In Pennsylvania, which of the following is NOT something a licensee must do to renew their insurance
license?
an insurer's A.M. Best rating
All of these are considered a form of advertising EXCEPT
Recommending insurers
