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Webce Test EXAM || MOST RECENT EXAM 2026/2027
ACTUAL COMPLETE REAL VERIFIED EXAM
QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS) ALREADY GRADED A+ | GUARANTEED
SUCCESS!! NEWEST EXAM!!!
The commissioner of insurance can examine the business
accounts, transactions, and records of insurers and
producers as often as necessary, but must do so at least
once in how many years? - Answer-5 years
Acme Insurance and Apogee insurance agree to offer
different premium rates for persons of equal risk within a
particular class. They also agree to limit benefits paid to
insureds within this class if the insureds live within certain
counties of PA. What are Acme and Apogee engaging in?
-acceptable marketing and underwriting practices
-unfair and prohibited business practices
-insurance fraud
-false advertising - Answer-they are engaging in unfair and
prohibited business practices
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they are agreeing to unreasonable restraint of trade in
insurance business, and they are engaging in unfair
discrimination
which of the following is NOT a remedy available to the PA
commissioner of insurance for committing an unfair
method of competition?
-imprisonment
-cease and desist order
-suspension of license
-revocation of license - Answer-imprisonment is not a
punishment for committing an unfair method of
competition
you cannot be arrested for committing an unfair method of
competition
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
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-failing to promptly acknowledge communications about
claims
-failing to promptly settle a claim for which liability is
uncertain
-appealing from an arbitration award in favor of an insured
to compel the insured to accept a lower settlement
-failing to affirm or deny coverage within a reasonable time
after completing a claim investigation - Answer-ailing to
promptly settle a claim for which liability is uncertain is
NOT an unfair claims settlement practice
Jeff is a licensed insurance producer in both PA and NY.
he is charged with embezzlement in NY, and his first
pretrial hearing is set for March 1. He must notify the PA
commissioner of insurance within how many days of this
hearing? - Answer-Jeff has 30 days to notify the PA
commissioner of insurance of the disciplinary action being
taken against him
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
-failing to promptly acknowledge communications about
claims
, 4|Page
-failing to promptly settle a claim for which liability is
uncertain
-offering to settle claims for less than due to encourage
litigation
-raising policy defenses to reduce a claim - Answer-failing
to promptly settle a claim for which liability is uncertain is
not an unfair claims settlement practice
which of the following situations presents a situation of
pure risk?
-knowing that his family is depending on him, Frank wants
to insure his life
-wanting to increase his retirement savings, Saul invests
his life savings in the stock market
-Ralph takes a second mortgage on his house and uses
the proceeds to gamble
-wanting better job security, Ron cashes in his life
insurance to start his own business - Answer-knowing that
his family is depending on him, Frank wants to insure his
own life
only pure risk is insurable. Pure risk may only result in a
loss, unlike speculative risk which may result in a gain.
Webce Test EXAM || MOST RECENT EXAM 2026/2027
ACTUAL COMPLETE REAL VERIFIED EXAM
QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS) ALREADY GRADED A+ | GUARANTEED
SUCCESS!! NEWEST EXAM!!!
The commissioner of insurance can examine the business
accounts, transactions, and records of insurers and
producers as often as necessary, but must do so at least
once in how many years? - Answer-5 years
Acme Insurance and Apogee insurance agree to offer
different premium rates for persons of equal risk within a
particular class. They also agree to limit benefits paid to
insureds within this class if the insureds live within certain
counties of PA. What are Acme and Apogee engaging in?
-acceptable marketing and underwriting practices
-unfair and prohibited business practices
-insurance fraud
-false advertising - Answer-they are engaging in unfair and
prohibited business practices
,2|Page
they are agreeing to unreasonable restraint of trade in
insurance business, and they are engaging in unfair
discrimination
which of the following is NOT a remedy available to the PA
commissioner of insurance for committing an unfair
method of competition?
-imprisonment
-cease and desist order
-suspension of license
-revocation of license - Answer-imprisonment is not a
punishment for committing an unfair method of
competition
you cannot be arrested for committing an unfair method of
competition
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
,3|Page
-failing to promptly acknowledge communications about
claims
-failing to promptly settle a claim for which liability is
uncertain
-appealing from an arbitration award in favor of an insured
to compel the insured to accept a lower settlement
-failing to affirm or deny coverage within a reasonable time
after completing a claim investigation - Answer-ailing to
promptly settle a claim for which liability is uncertain is
NOT an unfair claims settlement practice
Jeff is a licensed insurance producer in both PA and NY.
he is charged with embezzlement in NY, and his first
pretrial hearing is set for March 1. He must notify the PA
commissioner of insurance within how many days of this
hearing? - Answer-Jeff has 30 days to notify the PA
commissioner of insurance of the disciplinary action being
taken against him
which of the following is NOT an unfair claims settlement
practice if committed by an insurance company in PA?
-failing to promptly acknowledge communications about
claims
, 4|Page
-failing to promptly settle a claim for which liability is
uncertain
-offering to settle claims for less than due to encourage
litigation
-raising policy defenses to reduce a claim - Answer-failing
to promptly settle a claim for which liability is uncertain is
not an unfair claims settlement practice
which of the following situations presents a situation of
pure risk?
-knowing that his family is depending on him, Frank wants
to insure his life
-wanting to increase his retirement savings, Saul invests
his life savings in the stock market
-Ralph takes a second mortgage on his house and uses
the proceeds to gamble
-wanting better job security, Ron cashes in his life
insurance to start his own business - Answer-knowing that
his family is depending on him, Frank wants to insure his
own life
only pure risk is insurable. Pure risk may only result in a
loss, unlike speculative risk which may result in a gain.
