Property and Casualty PA Quiz Questions Latest 2024 Rated A+

Property and Casualty PA Quiz Questions Latest 2024 Rated A+ All of the following are requirements to be licensed in PA except: -Complete a four-week long pre-licensing course -Pass the appropriate exam -Apply for a license with the insurance department and pay the appropriate fee -Have your fingerprints taken and submitted Complete a four-week long pre-licensing course All of the following statements are correct except: -An applicant has up to one year to be licensed after successfully passing the exam -The fee for the PA Property-casualty license is $55 for two years -An Insurance Agency does not need to be licensed if they are a corporation -You must be at least 18 years of age to be licensed An Insurance Agency does not need to be licensed if they are a corporation Which statement is false? -A resident producer must both live and work in Pennsylvania -The maximum limit for a temporary license is 180 days -An insurance company's license is called a certificate of authority -A producer must be licensed to sell, solicit, or negotiate contracts of insurance A resident producer must both live and work in Pennsylvania Which time period is incorrect? -30 days to report a change of address -30 days to report a criminal conduct of being charged -60 days to reinstate a lapsed license retroactively -Four years to complete 24 hours of continuing education Four years to complete 24 hours of continuing education Possible insurance department penalties for insurance law violations include all of the following except: -Fines -Revoking a license -Increased requirement of CE hours -Issuance of an order to cease and desist Increased requirement of CE hours All of the following are general duties and powers of the insurance commissioner except: -Prosecute the individual in a court of law -Collect fees -Investigate complaints -Regulate rates Prosecute the individual in a court of law Rate regulatory law requires rates to be all of the following except: -Not excessive -Equal for all policy holders -Adequate -Not unfairly discriminatory Equal for all policy holders Which statement is false? -The insurance commissioner is appointed by the governor -All rates must be filed and approved before they can be used -Maximum jail term for an insurance violation is six months -Illegal inducement is doing business with unlicensed persons Illegal inducement is doing business with unlicensed persons Which activity would be a prohibited practice under the unfair claims practices law? -Failing to act promptly on a communication dealing with a claim -Reporting the claim to the insurance company online -Denying payment of a claim that is not covered by the policy -Assigning an adjuster to investigate the claim before payment Failing to act promptly on a communication dealing with a claim Which activity would not be a prohibited practice under the Unfair Trade Practice Law? -Intentionally misrepresenting coverage terms in the policy -Forging a client's signature on an application -Not remembering your clients birthday -Committing a felony Not remembering your clients birthday Misrepresentation call be all of the following except: -Twisting -Sharing part of your own commission with a client -Misrepresenting benefits, terms or conditions -Misrepresenting in advertisements Sharing part