Property & Casualty - PA - Insurance Regulation correctly answered rated A+

Property & Casualty - PA - Insurance RegulationPurpose of insurance regulation. - correct answer Assure the public is treated fairly and equitably. Requirements to be licensed. - correct answer Pre-licensing requirements, pass the exam, pay application fee Producer's license. - correct answer Permitted to legally sell, solicit and negotiate contracts of insurance. Licensing requirements. - correct answer 24 credit hours, pass exam, 18 yrs. or older, able to read and write English, not be a criminal, pay all fees, have professional competence and general fitness, integrity and character, maintain a legal business address in PA, get fingerprinted. P&C license fees. - correct answer $55.00 resident producer, $110.00 non-resident producer. Lines or Authority - correct answer Life, Accident & Health, Property, Casualty, Variable Life and Annuity, Personal..etc. Types of licenses. - correct answer Insurance entities, resident producer, temporary license, managers & exclusive general agents. Insurance entities. - correct answer Licensed by the Insurance Commissioner of the Commonwealth. Obtains a Certificate of Authority. Resident producer. - correct answer Licensed in home state of PA, principal residence and/or business in home state. If moving into PA from other state, submit application within 90DAYS to obtain a PA resident insurance producer license.