Life and Health PA Supplement Questions and Answers Rated A+

Life and Health PA Supplement Questions and Answers Rated A+ How long is the prelicensing education requirement? 24 hours How old do you have to be to obtain a producer's license? 18 years old How long does a temporary license last? 180 days How long is a producer's license term? 2 years When can a lapsed license be reinstated? 1 year When must you notify of your change of address, administrative actions or criminal charges? 30 days When must a Commissioner give notice of a hearing? 10 days What is the maximum producer fine for a violation of insurance code? $5,000 What is the non-willful violation fine? $1,000 What is the aggregate penalty for a non-willful violation? $10,000 What is the per penalty willful violation fine? $5,000 What is the aggregate penalty for willful violations? $50,000 How often must a Commissioner examine rating organizations? At least once every 5 years When must rates be filed? At least 30 days before use Once forms are filed, when are they considered approved? after 30 days unless the Commissioner rejects them Who approves life, accident or health insurance policy forms? The Commissioner How often must a Commissioner conduct an examination of each licensed insurer? At least once every 5 years If you are found guilty of fraud what is the penalty for your first violation? $5,000 If you are found guilty of fraud what is the penalty for your second violation? $10,000 If you are found guilty of fraud, what is the penalty