PENNSYLVANIA PROPERTY AND CASUALTY LICENSING
EXAM QUESTION BANK NEWEST 2025 ACTUAL EXAM
WITH COMPLETE 250+ QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+ | GUARANTEED PASS
Mrs. Kellogg works on behalf of the Lambert Corporation according to
the authority it describes in a written contract. Under the Law of
Agency, what term is used to refer to the Lambert Corporation in this
agency relationship with Mrs. Kellogg? - Correct Answer > Principal
Which law, act, or regulation governs how insurers and their producers
treat personal financial information from individuals? - Correct Answer >
Privacy of Consumer Financial Information Regulation
Winnie obtains a loan from United Bank to buy a small airplane. United
is named as a leinholder on her aviation insurance policy under a
leinholder's endorsement. A year later, Winnie burns the airplane in an
attempt to collect the insurance proceeds. Investigation reveals her
,fraud and the insurer denies the claim. Can United Bank recover the
balance of the loan from Winnie's aviation policy? - Correct Answer > Yes,
United Bank is covered under the leinholder's endorsement
Retention - Correct Answer > "do nothing" option; a person becomes
personally responsible for the consequences of risk
How many declaration pages are contained in a commercial general
liability policy? - Correct Answer > Two
A liability policy covering any type of motor vehicle required to be
registered in Pennsylvania must include coverage providing a medical
benefit in the amount of - Correct Answer > $5,000
Which of the following is not a standard flood insurance policy coverage
form? - Correct Answer > Homeowners form
Can an insurer change their assumed name? - Correct Answer > Yes, but they
must notify the Commissioner before using the assumed name?
,Contract of Adhesion - Correct Answer > "take-it-or-leave-it," drafted by one
party; other party has no opportunity to negotiate terms and prices.
Party must "adhere" to provisions as presented
Tad used unauthorized material to assist him on his examination for his
insurance producer license. He justified this by saying the materials
would be available to him in a real life situation. Which statement is
true? - Correct Answer > Tad committed a prohibited act.
What is the maximum fine that may be imposed upon a producer for
violating two of the Commissioner's orders? - Correct Answer > $20,000; A fine
of up to $10,000 for each violation of an order issued by the
commissioner.
Admitted Insurer - Correct Answer > An insurance company authorized and
licensed to transact business in a particular state.
, Which of the following is not acting as an insurance producer? - Correct
Answer > Brian, who is a VP at AllPro's human resources department and
does not receive commissions
Edwin has decided not to retain the risk of home ownership himself.
What method of risk does he choose when he purchases homeowners
insurance? - Correct Answer > Transfer: the risk of loss is transferred from the
insured to the insurance company in exchange for a premium payment
Alien Insurer - Correct Answer > Incorporated in a country other than the
United States
What fine will the Commissioner impose for the practice of unfair
methods of competition? - Correct Answer > Up to $5,000 for each violation
(but not more than $50,000 in a 6 month period)
Which of the following is not an unfair claims settlement practice if
committed by an insurance company in Pennsylvania? - Correct Answer >
Failing to promptly settle a claim for which liability is uncertain. (An
insurer is not obligated to settle a claim for which it's not clearly liable)
EXAM QUESTION BANK NEWEST 2025 ACTUAL EXAM
WITH COMPLETE 250+ QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+ | GUARANTEED PASS
Mrs. Kellogg works on behalf of the Lambert Corporation according to
the authority it describes in a written contract. Under the Law of
Agency, what term is used to refer to the Lambert Corporation in this
agency relationship with Mrs. Kellogg? - Correct Answer > Principal
Which law, act, or regulation governs how insurers and their producers
treat personal financial information from individuals? - Correct Answer >
Privacy of Consumer Financial Information Regulation
Winnie obtains a loan from United Bank to buy a small airplane. United
is named as a leinholder on her aviation insurance policy under a
leinholder's endorsement. A year later, Winnie burns the airplane in an
attempt to collect the insurance proceeds. Investigation reveals her
,fraud and the insurer denies the claim. Can United Bank recover the
balance of the loan from Winnie's aviation policy? - Correct Answer > Yes,
United Bank is covered under the leinholder's endorsement
Retention - Correct Answer > "do nothing" option; a person becomes
personally responsible for the consequences of risk
How many declaration pages are contained in a commercial general
liability policy? - Correct Answer > Two
A liability policy covering any type of motor vehicle required to be
registered in Pennsylvania must include coverage providing a medical
benefit in the amount of - Correct Answer > $5,000
Which of the following is not a standard flood insurance policy coverage
form? - Correct Answer > Homeowners form
Can an insurer change their assumed name? - Correct Answer > Yes, but they
must notify the Commissioner before using the assumed name?
,Contract of Adhesion - Correct Answer > "take-it-or-leave-it," drafted by one
party; other party has no opportunity to negotiate terms and prices.
Party must "adhere" to provisions as presented
Tad used unauthorized material to assist him on his examination for his
insurance producer license. He justified this by saying the materials
would be available to him in a real life situation. Which statement is
true? - Correct Answer > Tad committed a prohibited act.
What is the maximum fine that may be imposed upon a producer for
violating two of the Commissioner's orders? - Correct Answer > $20,000; A fine
of up to $10,000 for each violation of an order issued by the
commissioner.
Admitted Insurer - Correct Answer > An insurance company authorized and
licensed to transact business in a particular state.
, Which of the following is not acting as an insurance producer? - Correct
Answer > Brian, who is a VP at AllPro's human resources department and
does not receive commissions
Edwin has decided not to retain the risk of home ownership himself.
What method of risk does he choose when he purchases homeowners
insurance? - Correct Answer > Transfer: the risk of loss is transferred from the
insured to the insurance company in exchange for a premium payment
Alien Insurer - Correct Answer > Incorporated in a country other than the
United States
What fine will the Commissioner impose for the practice of unfair
methods of competition? - Correct Answer > Up to $5,000 for each violation
(but not more than $50,000 in a 6 month period)
Which of the following is not an unfair claims settlement practice if
committed by an insurance company in Pennsylvania? - Correct Answer >
Failing to promptly settle a claim for which liability is uncertain. (An
insurer is not obligated to settle a claim for which it's not clearly liable)
