PSI PA Property and Casualty Exam Guide

Broker CORRECT ANSWER According to the insurance law, who is the principal? 90 days CORRECT ANSWER An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? a temporary license CORRECT ANSWER issued for 180 days for surviving spouse, surviving inactive officer or partner, legal representative. Can be used upon death or incompetency of producer, or when individuals are serving in the military. Endorse Insurers CORRECT ANSWER Commissioner can do all of the following except? provides incorrect or misleading info, been denied in another state or violated commonwealth insurance laws. CORRECT ANSWER Insurance department can deny an application if the applicant.... Cease & Desist order CORRECT ANSWER the insurance department may issue this which requires the insurer or person to stop activity in question the Governor CORRECT ANSWER Insurance commissioner is appointed by... Guaranty Fund CORRECT ANSWER administered by a U.S. state to protect policyholders in the event that an insurance company defaults on benefit payments or becomes insolvent. Producers are prohibited to advertise it's existence to secure business.