Hawaii Insurance exam questions and
(VERIFIED) answers rated A+
The Insurance Commissioner must examine an insurer at least once every? - Correct
Answer-5 years
How many days in advance must a notice of a hearing on unfair trade practices be
sent? - Correct Answer-15 days
The fine PER violation for UNKNOWINGLY committing an unfair or deceptive act in the
business of insurance is: - Correct Answer-$1,000
The fine PER violation for KNOWINGLY committing an unfair or deceptive act in the
business of insurance is: - Correct Answer-$5,000
The MAX fine for UNKNOWINGLY committing an unfair or deceptive act in the business
of insurance is: - Correct Answer-$10,000
The MAX fine for KNOWNINGLY committing an unfair or deceptive act in the business
of insurance is: - Correct Answer-$50,000
What is the max fine when violating a cease and desist order? - Correct Answer-
$10,000
The MIN fine per violation of the Insurance Code is: - Correct Answer-$100
The MAX fine per violation of the Insurance Code is: - Correct Answer-$10,000
How much of a penalty must an insurance producer pay to reinstate an expired license?
- Correct Answer-Double the renewal fee
Temp producer licenses may be issued, without examination, for up to how many days?
- Correct Answer-180 days
Within how many days does a producer have to report any criminal prosecutions, or civil
or administrative, actions taken against them? - Correct Answer-30 days
The total Continuing Education hours required for each two-year licensing period is? -
Correct Answer-24 hours
How many hours in ethics and insurance laws and regulations are required in
Continuing Education? - Correct Answer-3 hours
, Violation of Insurance Code is punishable by up to how long in prison? - Correct
Answer-1 year
How many days do violators of Insurance Code have to pay any fines received? -
Correct Answer-10 days
How old does an applicant need to be to apply for an insurance license? - Correct
Answer-18 years old
Name or address changes must be reported to the Commissioner within how many
days? - Correct Answer-30 ays
Producers must maintain transaction records for how many years? - Correct Answer-5
years
An expired producer's license may be reinstated within how many months of the due
date? - Correct Answer-12 months
If licensed in both life/disability; and prop and casu. what continuing education hours are
not required? - Correct Answer-3 hrs Earthquake regulations
How many years must licensees maintain Continuing Education records for after course
completion? - Correct Answer-4 years
How many days does an insurer have to file a notice of appointment? - Correct Answer-
15 days
Within how many days does an insurer have to notify the Commissioner after
terminating an appointment? - Correct Answer-30 days
What is the Guaranty Association's Max liability for Workers' comp claims? - Correct
Answer-The full claim amount
What is the Guaranty Association's max liability for the return of unearned premiums? -
Correct Answer-$10,000 per policy
The Guaranty Association's max liability for claims not related to worker's comp or
unearned premiums is? - Correct Answer-$300,000 per claimant
Hawaii public adjusters are required to post a: - Correct Answer-$10,000 bond
For how many years must a licensed surplus lines broker keep records after a contract
termination? - Correct Answer-5 years
(VERIFIED) answers rated A+
The Insurance Commissioner must examine an insurer at least once every? - Correct
Answer-5 years
How many days in advance must a notice of a hearing on unfair trade practices be
sent? - Correct Answer-15 days
The fine PER violation for UNKNOWINGLY committing an unfair or deceptive act in the
business of insurance is: - Correct Answer-$1,000
The fine PER violation for KNOWINGLY committing an unfair or deceptive act in the
business of insurance is: - Correct Answer-$5,000
The MAX fine for UNKNOWINGLY committing an unfair or deceptive act in the business
of insurance is: - Correct Answer-$10,000
The MAX fine for KNOWNINGLY committing an unfair or deceptive act in the business
of insurance is: - Correct Answer-$50,000
What is the max fine when violating a cease and desist order? - Correct Answer-
$10,000
The MIN fine per violation of the Insurance Code is: - Correct Answer-$100
The MAX fine per violation of the Insurance Code is: - Correct Answer-$10,000
How much of a penalty must an insurance producer pay to reinstate an expired license?
- Correct Answer-Double the renewal fee
Temp producer licenses may be issued, without examination, for up to how many days?
- Correct Answer-180 days
Within how many days does a producer have to report any criminal prosecutions, or civil
or administrative, actions taken against them? - Correct Answer-30 days
The total Continuing Education hours required for each two-year licensing period is? -
Correct Answer-24 hours
How many hours in ethics and insurance laws and regulations are required in
Continuing Education? - Correct Answer-3 hours
, Violation of Insurance Code is punishable by up to how long in prison? - Correct
Answer-1 year
How many days do violators of Insurance Code have to pay any fines received? -
Correct Answer-10 days
How old does an applicant need to be to apply for an insurance license? - Correct
Answer-18 years old
Name or address changes must be reported to the Commissioner within how many
days? - Correct Answer-30 ays
Producers must maintain transaction records for how many years? - Correct Answer-5
years
An expired producer's license may be reinstated within how many months of the due
date? - Correct Answer-12 months
If licensed in both life/disability; and prop and casu. what continuing education hours are
not required? - Correct Answer-3 hrs Earthquake regulations
How many years must licensees maintain Continuing Education records for after course
completion? - Correct Answer-4 years
How many days does an insurer have to file a notice of appointment? - Correct Answer-
15 days
Within how many days does an insurer have to notify the Commissioner after
terminating an appointment? - Correct Answer-30 days
What is the Guaranty Association's Max liability for Workers' comp claims? - Correct
Answer-The full claim amount
What is the Guaranty Association's max liability for the return of unearned premiums? -
Correct Answer-$10,000 per policy
The Guaranty Association's max liability for claims not related to worker's comp or
unearned premiums is? - Correct Answer-$300,000 per claimant
Hawaii public adjusters are required to post a: - Correct Answer-$10,000 bond
For how many years must a licensed surplus lines broker keep records after a contract
termination? - Correct Answer-5 years
