OHIO PROPERTY AND CASUALTY LATEST
ACTUAL EXAM WITH COMPLETE QUESTIONS
AND CORRECT VERIFIED ANSWERS ALREADY
GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS
◉Temporary License-How many days? Answer: Period not to exceed
180 days
◉Notice of Administrative Action-Timing. Answer: Notify the
Superintendent within 30 days after the final disposition of the matter
◉Notice of Criminal Prosecution - Timing. Answer: Within 30 days
after the initial appearance before a judge
◉Final Disposition of the Prosecution - Timing. Answer: Provide a
certified copy of order that reflects the final disposition within 30 days
◉Continuing Education - Number of Hours Every Licensing Period.
Answer: 24 hours
,◉How many Ethics Hours are Required each Licensing Period. Answer:
3 hours
◉CE Carry-Forward Allowed each year. Answer: 12 hours
◉Inactive License-how ,any months must be Inc time?. Answer: Must
be inactive for at least 24 months
◉Participates During Inactive Status-Fine. Answer: Superintendent may
revoke or suspend license and impose up to a $25,000 fine
◉Fine for Violation of Insurance Regulations. Answer: Up to a $25,000
fine per violation
◉Fine for Transacting Insurance Business without a License. Answer:
Misdemeanor-Between $25 and $500 and imprisoned for up to 6 months
or both
◉Fine for Selling Insurance for an Unauthorized Company. Answer:
License revoked-fine of between $25 and $500, and imprisoned up to 6
months, or both
◉Fines for Surplus Lines agent found guilty of violating regulations
regarding unauthorized insurance. Answer: Fined between $25 and $500
and imprisoned up to 1 year, or both
,◉Fine for Failure to File the Proper Fees, Taxes or Assessments or
Violates Advertising Regulations. Answer: Fined between $100 and
$500
◉What is Issued if a violation will cause a substantial or material harm.
Answer: Cease and desist order
◉Cease and Desist order applies to:. Answer: Specific act that is subject
to the order
◉Fine if fail to honor a cease and desist order. Answer: Civil penalty up
to $10,000
◉Term-Negotiate. Answer: Confer directly with, or offer advice to, a
purchaser or prospective purchaser of a particular contract of insurance
◉Term-Sell. Answer: Exchange a contract of insurance by any means,
for money or its equivalent, on behalf of an insurer
◉Term-Solicit. Answer: To attempt to sell insurance, or to ask or urge a
person to apply for a particular kind of insurance from a particular
insurer
, ◉Certificate of Authority. Answer: Must have to sell insurance in the
state
◉Certificate of Authority-renewal. Answer: Annually from the date of
filing
◉Term-Insolvency. Answer: Inability to pay obligations within 40 days
from when they are due.
Admitted assets do not exceed its liabilities
◉File Retention. Answer: Keep minimum of 3 years
◉Timing of response on claim communications. Answer: Within 15
days of notification of loss
◉Timing of response to the Dept. Of Insurance. Answer: Within 21 days
◉Timing of notification of need for more time to investigate claim.
Answer: Within 90 days and every 90 days thereafter
Auto Claims-within45 days and every 45 days thereafter
◉Timing of response to confirm or deny coverage. Answer: Within 21
days
ACTUAL EXAM WITH COMPLETE QUESTIONS
AND CORRECT VERIFIED ANSWERS ALREADY
GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS
◉Temporary License-How many days? Answer: Period not to exceed
180 days
◉Notice of Administrative Action-Timing. Answer: Notify the
Superintendent within 30 days after the final disposition of the matter
◉Notice of Criminal Prosecution - Timing. Answer: Within 30 days
after the initial appearance before a judge
◉Final Disposition of the Prosecution - Timing. Answer: Provide a
certified copy of order that reflects the final disposition within 30 days
◉Continuing Education - Number of Hours Every Licensing Period.
Answer: 24 hours
,◉How many Ethics Hours are Required each Licensing Period. Answer:
3 hours
◉CE Carry-Forward Allowed each year. Answer: 12 hours
◉Inactive License-how ,any months must be Inc time?. Answer: Must
be inactive for at least 24 months
◉Participates During Inactive Status-Fine. Answer: Superintendent may
revoke or suspend license and impose up to a $25,000 fine
◉Fine for Violation of Insurance Regulations. Answer: Up to a $25,000
fine per violation
◉Fine for Transacting Insurance Business without a License. Answer:
Misdemeanor-Between $25 and $500 and imprisoned for up to 6 months
or both
◉Fine for Selling Insurance for an Unauthorized Company. Answer:
License revoked-fine of between $25 and $500, and imprisoned up to 6
months, or both
◉Fines for Surplus Lines agent found guilty of violating regulations
regarding unauthorized insurance. Answer: Fined between $25 and $500
and imprisoned up to 1 year, or both
,◉Fine for Failure to File the Proper Fees, Taxes or Assessments or
Violates Advertising Regulations. Answer: Fined between $100 and
$500
◉What is Issued if a violation will cause a substantial or material harm.
Answer: Cease and desist order
◉Cease and Desist order applies to:. Answer: Specific act that is subject
to the order
◉Fine if fail to honor a cease and desist order. Answer: Civil penalty up
to $10,000
◉Term-Negotiate. Answer: Confer directly with, or offer advice to, a
purchaser or prospective purchaser of a particular contract of insurance
◉Term-Sell. Answer: Exchange a contract of insurance by any means,
for money or its equivalent, on behalf of an insurer
◉Term-Solicit. Answer: To attempt to sell insurance, or to ask or urge a
person to apply for a particular kind of insurance from a particular
insurer
, ◉Certificate of Authority. Answer: Must have to sell insurance in the
state
◉Certificate of Authority-renewal. Answer: Annually from the date of
filing
◉Term-Insolvency. Answer: Inability to pay obligations within 40 days
from when they are due.
Admitted assets do not exceed its liabilities
◉File Retention. Answer: Keep minimum of 3 years
◉Timing of response on claim communications. Answer: Within 15
days of notification of loss
◉Timing of response to the Dept. Of Insurance. Answer: Within 21 days
◉Timing of notification of need for more time to investigate claim.
Answer: Within 90 days and every 90 days thereafter
Auto Claims-within45 days and every 45 days thereafter
◉Timing of response to confirm or deny coverage. Answer: Within 21
days
