Pennsylvania Property and Casualty Insurance Examination Exam Prep
Questions And Answers (202472025)
According tot he fair credit reporting act, all of the following would be considered negative
information except - ✔✔Disputes regarding consumer report information
Which of the following does a produce not have the authority to do? - ✔✔Issue polices
What is the maximum penalty for habitual willful noncompliance with the fair credit reporting
act? - ✔✔$2,500
An individual who willfully violates this Act enough to constitute a general pattern or business
practice will be subject to a penalty of up to $2,500.
A producer has successfully completed 52 hours of continuing education (CE). How many hours
can the producer apply to her current reporting period, and how many hours can she carry toward
the next reporting period? - ✔✔24 hours will be applied to the current reporting period, and 24
can be applied to the period immediately following
All of the following are requirements for producer license renewal except: - ✔✔Renewal
examination
If an insurer appoints a producer, which authority must be notified? - ✔✔Department of Insurance
Which of the following licensees is classified as a representative of the insurance company and
not allowed to represent an insured or claimant? - ✔✔producer
Which of the following entities must approve all continuing education courses in this state? -
✔✔commissioner
Which of the following authorities is authorized to issue a temporary insurance producer's license?
- ✔✔Commissioner
, Which of the following acts created a federal program that would share the risk of loss from
potential terrorists attacks with the insurance industry? - ✔✔TRIA
When a producer died, his surviving spouse needed to maintain the insurance agency until it could
be sold. Without passing an examination, she could qualify for a temporary license for a maximum
period of - ✔✔180 days
How often must the commissioner examine rating organizations - ✔✔every 5 years
Which of the following persons is required to hold a producers license - ✔✔A person who
negotiates insurance contracts
Within how many days of requesting an investigative consumer report must an insurer notify the
consumer in writing that the report will be obtained - ✔✔3 days
With regards to premium rates, which of the following statements is not true? - ✔✔The
Commissioner sets all insurance premium rates used in Pennsylvania.
A producer licensed in another state wants to become a producer in Pennsylvania. The other state
gives the same privileges to Pennsylvania producers wanting to be licensed in that state as it does
it's own agents. Pennsylvania, therefore, extends the privileges of its agents to the prospective
agent of the other state. What is this called? - ✔✔Reciprocity
In which of the following situations would punishment include imprisonment? - ✔✔Omission of
a material fact with intent to embezzle funds
When a producer holding a certificate or a brokers license has a change in his/her residence or
business address, he/she must notify the Department of Insurance and any company for which the
producer holds an appointment within - ✔✔30 days
Questions And Answers (202472025)
According tot he fair credit reporting act, all of the following would be considered negative
information except - ✔✔Disputes regarding consumer report information
Which of the following does a produce not have the authority to do? - ✔✔Issue polices
What is the maximum penalty for habitual willful noncompliance with the fair credit reporting
act? - ✔✔$2,500
An individual who willfully violates this Act enough to constitute a general pattern or business
practice will be subject to a penalty of up to $2,500.
A producer has successfully completed 52 hours of continuing education (CE). How many hours
can the producer apply to her current reporting period, and how many hours can she carry toward
the next reporting period? - ✔✔24 hours will be applied to the current reporting period, and 24
can be applied to the period immediately following
All of the following are requirements for producer license renewal except: - ✔✔Renewal
examination
If an insurer appoints a producer, which authority must be notified? - ✔✔Department of Insurance
Which of the following licensees is classified as a representative of the insurance company and
not allowed to represent an insured or claimant? - ✔✔producer
Which of the following entities must approve all continuing education courses in this state? -
✔✔commissioner
Which of the following authorities is authorized to issue a temporary insurance producer's license?
- ✔✔Commissioner
, Which of the following acts created a federal program that would share the risk of loss from
potential terrorists attacks with the insurance industry? - ✔✔TRIA
When a producer died, his surviving spouse needed to maintain the insurance agency until it could
be sold. Without passing an examination, she could qualify for a temporary license for a maximum
period of - ✔✔180 days
How often must the commissioner examine rating organizations - ✔✔every 5 years
Which of the following persons is required to hold a producers license - ✔✔A person who
negotiates insurance contracts
Within how many days of requesting an investigative consumer report must an insurer notify the
consumer in writing that the report will be obtained - ✔✔3 days
With regards to premium rates, which of the following statements is not true? - ✔✔The
Commissioner sets all insurance premium rates used in Pennsylvania.
A producer licensed in another state wants to become a producer in Pennsylvania. The other state
gives the same privileges to Pennsylvania producers wanting to be licensed in that state as it does
it's own agents. Pennsylvania, therefore, extends the privileges of its agents to the prospective
agent of the other state. What is this called? - ✔✔Reciprocity
In which of the following situations would punishment include imprisonment? - ✔✔Omission of
a material fact with intent to embezzle funds
When a producer holding a certificate or a brokers license has a change in his/her residence or
business address, he/she must notify the Department of Insurance and any company for which the
producer holds an appointment within - ✔✔30 days
