Pa Laws and Rules Questions and Answers Already Passed

Pa Laws and Rules Questions and Answers Already Passed A Producer that willfully violates any provision of Pennsylvania insurance law may be imposed to a max penalty set by the commissioner at 5k per violation Holding premium funds for timely submission to the insurer is example of Acting in a fiduciary capacity Within how many days must a producer report to the commissioner any changes made against him 30 In Pennsylvania, what's the requirements for a minor to receive proceeds from a death benefit? A gaurdian must be present Group dental plans will frequently place limit limit on annual benefits in order to minimize Adverse selection A life insurance policy becomes incontestable after it has been in force for 2 years In accident and health plans, premiums paid less frequent than monthly require a minimum grace period of at least 31 days According to Pennsylvania law, which of the following is NOT considered to be personally identifiable financial information? Blind trust data that does not include names and addresses An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called coinsurance The commissioner has the right and duty to Audit insurer financial reports and conduct market studies A licensee can have his/her license denied or revoked by the Commissioner if the licensee has committed insurance-related fraud or dishonesty The medicare supplement open enrollment period is Six month beginning of the month in which enrollment and part B Medicare occurred, typically at age 65 Commissions may be shared by licensed and appointed Producers According to pennsylvania law, postnatal care must be delivered within how many days of discharge 2 days A producer's license CANNOT be revoked without a hearing given to the producer In Pennsylvania, which of the following is NOT something a licensee must do to renew their insurance license? Confirm previous exam scores Which of the following constitutes grounds for suspending a pennsylvania producer's license Felony conviction What is the difference between a Long-Term Care Partnership Plan and a Non-Partnership Plan? Asset protection According to the Affordable Care Act, any plan in existence prior to which date is considered a grandfathered plan? March 23, 2010 A licensed Producer must report any administrative action taken against the licensee in another jurisdiction or by another agency department in Pennsylvania within how many days of the final disposition? 30 days Life insurance may make an immediate benefit