PROPERTY AND CASUALTY INSURANCE
EXAM PART ONE FULLY SOLVED EDITION
WITH VERIFIED ANSWERS 2026
⩥ Essential Insurance Act: Rates. Answer: -Rates must not be excessive,
inadequate, or unfairly discriminatory.
-Rates must be filled with the commissioner, A filing not disapproved
within 60 days after its submission is considered approved.
⩥ Essential Insurance Act: Notice of rating system. Answer: -Insurer
will send notice at least annually describing rating classification for
premiums on policy and how policyholder can appeal current rates
affecting policy in question.
⩥ Essential Insurance act: Disputes between insured and insured.
Answer: -If a person has been denied auto or homeowners coverage, he
can demand conference with insurer
-Insurer must comply within 30 days or matter may be determined by
Commissioner.
⩥ Essential Insurance Act: Grievance Procedure. Answer: A person or
organization that doesn't agree with a filing may make a written appeal
to Commissioner for hearing.
, ⩥ Essential Insurance Act: Termination of Insurance 30 Day. Answer: 30
Days termination notice is required, except for nonpayment of premium
(the notice must specify cancellation date and reason)
⩥ Essential Insurance Act: Termination of insurance 20 Day. Answer:
Required for canellations sent within the first 55 days of policy issuance
⩥ Essential Insurance Act: Termination of Insurance 10 Day. Answer:
Required for casualty insurance
⩥ Essential Insurance Act: Casualty Insurance Termination. Answer:
Casualty insurance may be canceled at any time by the insured and the
premium will be refunded by a pro rata business.
⩥ Essential Insurance: Producer Duties. Answer: -Provide a quote for
the type of coverage requested by a qualified applicant.
-Tell a qualified applicant the number of insurers the producer represents
and provide additional quotes up request
-Supply a statement at auto renewal which explains insurance point
system.
⩥ Essential Insurance: Insurance Declined. Answer: -Producer and
ompanty are responsible for telling exact reason for declination.
EXAM PART ONE FULLY SOLVED EDITION
WITH VERIFIED ANSWERS 2026
⩥ Essential Insurance Act: Rates. Answer: -Rates must not be excessive,
inadequate, or unfairly discriminatory.
-Rates must be filled with the commissioner, A filing not disapproved
within 60 days after its submission is considered approved.
⩥ Essential Insurance Act: Notice of rating system. Answer: -Insurer
will send notice at least annually describing rating classification for
premiums on policy and how policyholder can appeal current rates
affecting policy in question.
⩥ Essential Insurance act: Disputes between insured and insured.
Answer: -If a person has been denied auto or homeowners coverage, he
can demand conference with insurer
-Insurer must comply within 30 days or matter may be determined by
Commissioner.
⩥ Essential Insurance Act: Grievance Procedure. Answer: A person or
organization that doesn't agree with a filing may make a written appeal
to Commissioner for hearing.
, ⩥ Essential Insurance Act: Termination of Insurance 30 Day. Answer: 30
Days termination notice is required, except for nonpayment of premium
(the notice must specify cancellation date and reason)
⩥ Essential Insurance Act: Termination of insurance 20 Day. Answer:
Required for canellations sent within the first 55 days of policy issuance
⩥ Essential Insurance Act: Termination of Insurance 10 Day. Answer:
Required for casualty insurance
⩥ Essential Insurance Act: Casualty Insurance Termination. Answer:
Casualty insurance may be canceled at any time by the insured and the
premium will be refunded by a pro rata business.
⩥ Essential Insurance: Producer Duties. Answer: -Provide a quote for
the type of coverage requested by a qualified applicant.
-Tell a qualified applicant the number of insurers the producer represents
and provide additional quotes up request
-Supply a statement at auto renewal which explains insurance point
system.
⩥ Essential Insurance: Insurance Declined. Answer: -Producer and
ompanty are responsible for telling exact reason for declination.
