PY 2025 Pennie Individual Marketplace Training for New Agents and Brokers Exam Questions Answers Verified 100% Correct

PY 2025 Pennie Individual Marketplace Training for New Agents and Brokers Exam Questions Answers Verified 100% Correct All medical plans offered thru Pennie constitute Minimum Essential Coverage (MEC) True or False - ANSWER -True The Inflation Reduction Act (IRA) signed into law in 2022, extends the premium subsidies created by the American Rescue Plan Act (ARPA) from 2022 through what year? a) 2023 b) 2024 c) 2025 d) 2026 - ANSWER -c) 2025 Both Exchange Assisters and Brokers can help a customer complete an application through Pennie and recommend a plan that would best fit their personal needs. a) true b) false - ANSWER -b) false To meet the requirements of the Pennsylvania Navigator and Exchange Assister Accessibility and Regulation Act, an Assister must adhere to all of the following except a) reside in the Commonwealth b) maintain appointments with all insurers on the Exchange c) register with the Pennsylvania Insurance Department (PID) d) avoid engaging in activities which could be considered conflicts of interest - ANSWER -b) maintain appointments with all insurers on the Exchange customers seeking assistance can use which of the following methods to be connected to a broker or assister? a) pennie customer service b) pennie chat feature c) pennie "get help" tool d) all of the above - ANSWER -d) all of the above only brokers or assisters can initiate the process to appoint an agent of Record/Authorized Representative. True or False - ANSWER -False When dealing with a frustrated or emotional customer, you should not: a) commiserate or agree with the customer's claim that the law or a particular process is unfair b) show empathy, but maintain professionalism c) acknowledge their frustration or feelings d) reassure them that you are here to help - ANSWER -a) commiserate or agree with the customer's claim that the law or a particular process is unfair As a sole, licensed and self-employment independent agent, which account type should you choose? a) agent b) agency manager c) assister d) entity manager - ANSWER -b) agency manager non-licensed office staff are permitted to have access to the Agency account as long as the Agency Manager approves it a) true or b) false - ANSWER -b) false As the Agency Manager, to add a new broker to your Agency account, you should: a) advise the broker to create their own Agent account first, then you can add them to the Agency b) advise them to call Pennie so the Contact Center can set it up for them c) initiate the creation of the broker's account through the Add a New Agent page d) any of the above - ANSWER -c) initiate the creation of the broker's account through the Add a New Agent page What were the main goals of Act 42 of 2019, the legislation which allowed the creation of an insurance marketplace for the state of Pennsyvanina? a) Transaction from the federal exchange (H) and set up a state-based exchange b) Reduce service and operational costs c) Launch a reinsurance program to increase savings for families d ) all of the above - ANSWER -d ) all of the above Deductibles, copayments, coinsurance, and out-of-pocket limits are all examples of: a) penalties b) essential health benefits c) cost sharing d) all of the above - ANSWER c) cost sharing What were some of the goals of the Affordable Care Act (ACA) healthcare reform law enacted in 2010? a) make heallth insurance more affordable for more people b) ensure people cannot be denied coverage because of - or charged more for - pre-existing conditions c) establish a list of essential health benefits (EHB) insurers must cover d) all of the above - ANSWER -d) all of the above To avoid delays in certification, the name and PA License Number on your TrainPA and Pennie accounts should mirror what is on your PA Insurance Department-issued license a) true or b) false - ANSWER -a) true when an Agent or Agency Manager is moving from one Agency to another, they should enter the name of the new Agency in the Business Name of their Pennie account to make the change a) true or b) false - ANSWER -b) false when completing a Broker and Book of Business Transfer Request Form, the following signatures are required if the Agent intends to keep their Book of Business: a) the Agent's b) an Authorized Representative of the Agent's former Agency c) an Authorized Representative of the Agent's new Agency d) all of the above - ANSWER -d) all of the above As the Agency Manager, if an Agent with active deisgnations is leaving your Agency, which if the following will occur if you do not reassign those customers prior to their departure? a) they will be automatically transferred to your account b) they will be automatically transferred to another Agent's account within the Agency c) They will remain under the Agency account, but not assigned to a specific Agent d) The agent of Record designation will be terminated and the customer will be de-designated entirely - ANSWER -d) The agent of Record designation will be terminated and the customer will be de-designated entirely if you notice that you weren't given credit for a policy on a recent commission report, after confirming you are still the Agent of Record on the account, you should first: a) call the Pennie Assister/Broker Line b) email c) contact the Commissions or Producer Relations team of the insuer d) any of the above - ANSWER -c) contact the Commissions or Producer Relations team of the insuer