hawaii insurance laws, rules and regulations Exam Questions and Answers 100% pass

hawaii insurance laws, rules and regulations Exam Questions and Answers 100% pass 15 days - Answer- Hearing of unfair trade practices $1,000 - Answer- Unfair trade practice per violation UNKNOWINGLY committed $10,000 - Answer- Unfair trade practice MAX FINE unknowingly committed $5,000 - Answer- Unfair trade practice Per violation KNOWINGLY committed $50,000 - Answer- Unfair trade practice MAXIMUM KNOWINGLY committed $10,000 - Answer- Unfair trade practice MAX for violating a cease and desist $100 - Answer- Insurance code violation Minimum fine per violation $10,000 - Answer- Insurance code violation MAXIMUM fine per violation 1 year - Answer- Insurance code violation imprisonment up to 10 days - Answer- Insurance code violators must pay fines with in 18 years old - Answer- Applicants must be at least 30 days - Answer- Name or address change must be reported to the Commissioner with in 5 years - Answer- Producers ( sales agents) must maintain transaction records for 12 months - Answer- producers license may be reinstated with in __________ from due date with payment of a penalty of double the unpaid licence renewal fee 180 days - Answer- Temporary producer license may be issued without exam for up to 30 days - Answer- Producers must report with in _____________ days any criminal prosecution, or civil administrative actions taken against the producer in any jurisdiction 24 hours - Answer- Continuing Education ( CE ) Total hours for each 2 year licensing period 3 hours - Answer- CE requires _________ hours in ethics and insurance law and regulation 10 hours - Answer- CE requires _________ hours relating to life and disability 11 hours - Answer- CE requires ________ hours for property and casualty 4 years - Answer- Licensees must maintain records for _______ years after course completion. 15 days - Answer- The insurer must file notice of appointment with in _______ days of the agency contract date, or first insurance application 30 days - Answer- An insurer that terminates an appointment must notify the commissioner with in Full amount - Answer- Maximum for workers comp claims $10,000 - Answer- Maximum for the return of unearned premium $300,000 - Answer- Maximum per claimant for all other covered claims $10,000 bond - Answer- Public adjusters are required to post a 5 years - Answer- Brokers records must be maintained for ____ years after contract termination 30 days - Answer- Rates must be filed with commissioner ________ days before effective date 90 days - Answer- workers comp rates must be filed________ days prior to the effective date attorney who adjusts losses from time to time - Answer- Which of the following statements is NOT correct regarding qualifications for and adjuster license? Surplus lines insurer - Answer- An UNAUTHORIZED insurance company may also be referred to as a The surplus lines insurance must be procured at a rate that is lower than the prevailing rate for the same type of coverage - Answer- Which of the following statements is NOT correct regarding surplus lines insurance? quarter - Answer- A surplus lines broker must file with the Commissioner a statement of all surplus lines insurance transacted during the pervious calendar cease and desist order - Answer- If an insurer violates any section of the insurance code, what can the commissioner issue to stop the insurer from committing the violation Marine insurance - Answer- Which of the following types of insurance provides protection and indemnity coverage rated inland marine risks - Answer- Every insurer must file with the commissioner of Insurance in the State of Hawaii all of the following EXCEPT 3 hours - Answer- Producers licensed to transact property and casualty insurance must complete how many hours of continuing education every biennium devoted solely to Hawaii laws and rules failing to respond to communications from insureds with in 14 business day - Answer- All of the following are considered unfair claim settlement practices EXCEPT The commissioner and the Department of Insurance are responsible for all expenses associated with examination - Answer- Which of the following statements regarding the examination of insurers is NOT correct?