PENNSYLVANIA PROPERTY AND CASUALTY LATEST 2026
MAIN FINAL PAPER QUESTIONS AND ANSWERS RATED A+
✔✔basic property insurance under the FAIR plan does not cover loss - ✔✔flood.
✔✔workers compensation death benefits include a burial benefit of up to what amount -
✔✔7k. if work related injury results in death, the employer must pay reasonable burial
expenses of up to 7k
✔✔a licensee may charge a fee in addition to a commission to a person for the sale of
what kind of insurance contract - ✔✔commercial business.
✔✔which of the following entities exists to pay covered claims and avoid financial loss
to claimants when an insurer becomes insolvent and to assist in the detection and
prevention of insurer insolvencies - ✔✔Pennsylvania insurance guaranty association
- provides payment for covered claims under property and casualty insurance policies
and avoid financial loss to claimants as a result of insurers insolvency. it also assists in
the detection and prevention
✔✔the insurance industry in the united states primarily is regulated by the - ✔✔states.
insurance industry industry is regulated by the states, rather than by the federal
government. this authority was placed in the hands of the states in the the 1868
supreme court case of paul v virgina
✔✔an insurance producer must be appointed by whom - ✔✔insurer
-an insurer producer is a person appointed in writing by an insurance company to
represent that that company in selling insurance
✔✔a written note that temprarily obligates an insurer to provide insurance before a
contract has been written or the premium paid is called a - ✔✔binder
✔✔benefits from auto insurer are overdue if not paid with how many days after the
insurer recieves proof of the amount due - ✔✔30. benefits are overdue if not paid within
30 days after the insurer receives proof of the amount of the benefits
✔✔what is the minimum wage at which a person may apply for an insurance producers
license - ✔✔18 . in order to qualify for for a producers certificate or brokers license an
apllicant must be at least 18 years old
✔✔under the pennsylvania motor vehicle financial responsibility law, a statute of
limitations applies to recovery of first- party benfits. when benefits have not been paid
any action to to recover first-party benefits must begin within - ✔✔four years from the
accident date
, ✔✔how many credit hours of continuing education must an insurance producer
complete during each 2 year license period - ✔✔24
✔✔agents and brokers must notify the insurance department of any change in their
residence of busines address within - ✔✔30 days of the change
-every agent holding certificate and every broker holding a license must notify the
department of any change in residnece or business address within 30 days of the
change
✔✔occupational disease for purposes of the workers comp laws includes the following
except - ✔✔loss of leg due to an accident
✔✔suppose that to motivate a buyer to sign an application for insurance, a prodcuer
promises a gift of one- half the commision. this is an example of - ✔✔rebating
✔✔the workers compensation benefits for total disability is what percentage of the
average weekly wage - ✔✔66.67 percent, is 2/3rds of the average weekly wage
✔✔whats true about tort insurance - ✔✔limits an insureds ability to seek recoevery for
noneconomic losses suc has pain and suffering
✔✔binders for temp fire insurance may be for a period of up to how many days - ✔✔30
days and can be made orally or in writing
✔✔insurers cancellation of a policy covering an owner occupied dwelling - ✔✔may be
cancelled for non payment of premium but also if there are substantial increases in the
hazard or if a material misrepresentation is present
✔✔which type of insurer is domiciled in a state other than pennsylvania - ✔✔foreign. ,
an insurer chartered in a state, common wealth, or territory other than pennsylvania is
called a foreign insurer
✔✔in PA notice of nonreneweal of a commercial policy must be given to the named
insured at least - ✔✔60 days in advance.
✔✔individual with temporary producer license - ✔✔may not transfer it to anyone else.
✔✔what is the maximum term of a temporary license that is issued as a result of a
licensees death - ✔✔180 days.
✔✔basic property insurance includes all policies that insure against direct loss to real
proprty at a fixed location caused by - ✔✔perils defined and limited in the standard fire
policy, such as vandalism, malicious mischief, burglary and theft
MAIN FINAL PAPER QUESTIONS AND ANSWERS RATED A+
✔✔basic property insurance under the FAIR plan does not cover loss - ✔✔flood.
✔✔workers compensation death benefits include a burial benefit of up to what amount -
✔✔7k. if work related injury results in death, the employer must pay reasonable burial
expenses of up to 7k
✔✔a licensee may charge a fee in addition to a commission to a person for the sale of
what kind of insurance contract - ✔✔commercial business.
✔✔which of the following entities exists to pay covered claims and avoid financial loss
to claimants when an insurer becomes insolvent and to assist in the detection and
prevention of insurer insolvencies - ✔✔Pennsylvania insurance guaranty association
- provides payment for covered claims under property and casualty insurance policies
and avoid financial loss to claimants as a result of insurers insolvency. it also assists in
the detection and prevention
✔✔the insurance industry in the united states primarily is regulated by the - ✔✔states.
insurance industry industry is regulated by the states, rather than by the federal
government. this authority was placed in the hands of the states in the the 1868
supreme court case of paul v virgina
✔✔an insurance producer must be appointed by whom - ✔✔insurer
-an insurer producer is a person appointed in writing by an insurance company to
represent that that company in selling insurance
✔✔a written note that temprarily obligates an insurer to provide insurance before a
contract has been written or the premium paid is called a - ✔✔binder
✔✔benefits from auto insurer are overdue if not paid with how many days after the
insurer recieves proof of the amount due - ✔✔30. benefits are overdue if not paid within
30 days after the insurer receives proof of the amount of the benefits
✔✔what is the minimum wage at which a person may apply for an insurance producers
license - ✔✔18 . in order to qualify for for a producers certificate or brokers license an
apllicant must be at least 18 years old
✔✔under the pennsylvania motor vehicle financial responsibility law, a statute of
limitations applies to recovery of first- party benfits. when benefits have not been paid
any action to to recover first-party benefits must begin within - ✔✔four years from the
accident date
, ✔✔how many credit hours of continuing education must an insurance producer
complete during each 2 year license period - ✔✔24
✔✔agents and brokers must notify the insurance department of any change in their
residence of busines address within - ✔✔30 days of the change
-every agent holding certificate and every broker holding a license must notify the
department of any change in residnece or business address within 30 days of the
change
✔✔occupational disease for purposes of the workers comp laws includes the following
except - ✔✔loss of leg due to an accident
✔✔suppose that to motivate a buyer to sign an application for insurance, a prodcuer
promises a gift of one- half the commision. this is an example of - ✔✔rebating
✔✔the workers compensation benefits for total disability is what percentage of the
average weekly wage - ✔✔66.67 percent, is 2/3rds of the average weekly wage
✔✔whats true about tort insurance - ✔✔limits an insureds ability to seek recoevery for
noneconomic losses suc has pain and suffering
✔✔binders for temp fire insurance may be for a period of up to how many days - ✔✔30
days and can be made orally or in writing
✔✔insurers cancellation of a policy covering an owner occupied dwelling - ✔✔may be
cancelled for non payment of premium but also if there are substantial increases in the
hazard or if a material misrepresentation is present
✔✔which type of insurer is domiciled in a state other than pennsylvania - ✔✔foreign. ,
an insurer chartered in a state, common wealth, or territory other than pennsylvania is
called a foreign insurer
✔✔in PA notice of nonreneweal of a commercial policy must be given to the named
insured at least - ✔✔60 days in advance.
✔✔individual with temporary producer license - ✔✔may not transfer it to anyone else.
✔✔what is the maximum term of a temporary license that is issued as a result of a
licensees death - ✔✔180 days.
✔✔basic property insurance includes all policies that insure against direct loss to real
proprty at a fixed location caused by - ✔✔perils defined and limited in the standard fire
policy, such as vandalism, malicious mischief, burglary and theft
