Hawaii Insurance exam Questions and Answers 100% pass

Hawaii Insurance exam Questions and Answers 100% pass The Insurance Commissioner must examine an insurer at least once every? - Answer- 5 years How many days in advance must a notice of a hearing on unfair trade practices be sent? - Answer- 15 days The fine PER violation for UNKNOWINGLY committing an unfair or deceptive act in the business of insurance is: - Answer- $1,000 The fine PER violation for KNOWINGLY committing an unfair or deceptive act in the business of insurance is: - Answer- $5,000 The MAX fine for UNKNOWINGLY committing an unfair or deceptive act in the business of insurance is: - Answer- $10,000 The MAX fine for KNOWNINGLY committing an unfair or deceptive act in the business of insurance is: - Answer- $50,000 What is the max fine when violating a cease and desist order? - Answer- $10,000 The MIN fine per violation of the Insurance Code is: - Answer- $100 The MAX fine per violation of the Insurance Code is: - Answer- $10,000 How much of a penalty must an insurance producer pay to reinstate an expired license? - Answer- Double the renewal fee Temp producer licenses may be issued, without examination, for up to how many days? - Answer- 180 days Within how many days does a producer have to report any criminal prosecutions, or civil or administrative, actions taken against them? - Answer- 30 days The total Continuing Education hours required for each two-year licensing period is? - Answer- 24 hours How many hours in ethics and insurance laws and regulations are required in Continuing Education? - Answer- 3 hours Violation of Insurance Code is punishable by up to how long in prison? - Answer- 1 year How many days do violators of Insurance Code have to pay any fines received? - Answer- 10 days How old does an applicant need to be to apply for an insurance license? - Answer- 18 years old Name or address changes must be reported to the Commissioner within how many days? - Answer- 30 ays Producers must maintain transaction records for how many years? - Answer- 5 years An expired producer's license may be reinstated within how many months of the due date? - Answer- 12 months If licensed in both life/disability; and prop and casu. what continuing education hours are not required? - Answer- 3 hrs Earthquake regulations How many years must licensees maintain Continuing Education records for after course completion? - Answer- 4 years How many days does an insurer have to file a notice of appointment? - Answer- 15 days Within how many days does an insurer have to notify the Commissioner after terminating an appointment? - Answer- 30 days What is the Guaranty Association's Max liability for Workers' comp claims? - Answer- The full claim amount What is the Guaranty Association's max liability for the return of unearned premiums? - Answer- $10,000 per policy The Guaranty Association's max liability for claims not related to worker's comp or unearned premiums is? - Answer- $300,000 per claimant Hawaii public adjusters are required to post a: - Answer- $10,000 bond For how many years must a licensed surplus lines broker keep records after a contract termination? - Answer- 5 years How many days prior to the effective date must new rates be filed with the insurance commissioner? - Answer- 30 days How many days prior to the effective date must workers' comp rates be filed? - Answer- 90 days An employee will receive what % of their average weekly earnings for a total disability from a work injury? (up to the state avg weekly wage) - Answer- 66.7% What is the waiting period for temporary total disability benefits? - Answer- 3 days For a temporary partial disability, benefits are what % of the difference between wages before and after the injury? - Answer- 66.7% At least how many days of notice must be filed before the cancellations of workers' comp insurance contracts? - Answer- 10 days Employers must report workers' comp losses to the Director of Labor within: - Answer- 7 days What is the minimum Personal Injury Protection (PIP) limit per person? - Answer- $10,000 Personal Injury Protection (PIP) benefits must be paid within: - Answer- 30 days The minimum required limits of Hawaii are: - Answer- 20/40/10 BI per/BI occ/PD occ Notice of cancellation or nonrenewal of motor vehicle insurance must be provided in at least: - Answer- 30 days A cancellation notice for nonpayment of premiums of a motor vehicle policy must be provided in at least: - Answer- 20 days What is the minimum medical payment coverage an insurer must offer for motorcycle insruance? - Answer- $10,000 If an injury results in immediate death, within how many hours must the employer report to the Director of Labor? - Answer- 48 hours Within how many days after final compensation payment must the employer make a final report to the Director? - Answer- 30 days Under Hawaii Law, revoked or suspended licenses will not be reissued until: - Answer- Proof of financial responsibility has been furnished