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WA material - P&C WA State material Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution $7.99
WA material - P&C WA State material Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution
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WA material - P&C WA State material Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution
WA material / P&C WA State material
A public adjuster represents the interest of:
> Insurer
> Public.
✅✅
> Insurance Department.
> Insured - -insured
Selling insurance in Washington State without a license is a:
> Class C felony.
> Class D felony.
✅✅-Class B Felony
> Class B felony.
> Class A felony. -
Every Insurer ad must start with the following:
> whether or not the Insurer is an authorized Washington Insurer
> whether or not the Insurer is a member of the Guaranty Fund
✅✅
> the primary phone number of the Insurer
> the full name of the Insurer - -Full name of the insurer
Q has given a cash premium to a Producer. How long does the Producer have
to provide a signed premium receipt?
> 1 business day
> 2 business days
✅✅
> 3 business days
> 48 hours - -1 business day
The Surplus Line Broker is required to have:
> a $2,500 bond to protect the Insureds and a $20,000 bond to protect the
State.
> a $5,000 bond to protect the Insureds and a $50,000 bond to protect the
State.
> a $2,500 bond to protect the State and a $20,000 bond to protect the
Insureds.
✅✅
> a $5,000 bond to protect the State and a $50,000 bond to protect the
Insureds. - -a $20,000 bond to protect the state and a $2,500 bond to
protect the insured
,If a producer changes the producer's address for mail, email, home or
business, the producer:
> Must notify the Commissioner within 60 days.
> Is not required to notify the Commissioner.
✅✅
> Must notify both the Producer's appointing Insurers and clients immediately.
> Must notify the Commissioner within 30 days. - -must notify the
commissioner within 30 days
A foreign insurer is domiciled in another:
✅✅-state
> country.
> state -
Which type of insurer doesn't sell stock and is operated for its members on a
nonprofit ritualistic lodge basis?
> Alien
> Fraternal
✅✅-fraternal
> Domestic
> Mutual -
If the Guaranty Association is required to pay a claim, the funds come from:
> a reduction in the amount of claim payments by the remaining Insurers.
> a special tax imposed on all insurance policies sold within the state.
✅✅
> the Insurance Department's annual budget.
> an assessment against the premiums collected by each Insurer. - -an
assessment against the premiums collected by each insurer
When an insurer appoints a producer, the insurer must notify the
commissioner of the appointment within
> One business day
> 7 days
✅✅
> 15 days
> 31 days - -15 days
A bonded producer must post a bond in the amount of - ✅✅-$2,500
within how many days must a producer notify the insurance commissioner of
✅✅
a change in: email address, mailing address, business address, or residence
address? - -30 days
,Violation of the fraudulent claims act is a:
✅✅
> Misdemeanor
> Felony - -Felony
A producer knowingly insuring a property in excess of its value is known as:
✅✅
> recommend the appropriate policy for an applicant
>perform normal office duties - -perform normal office duties
Washington requires Insurer's to offer Underinsured Motorist limits that are:
> 10/5/10
> at least equal to the limits of the Insured's auto liability policy
✅✅-at least
> less than the limits of the Insured's auto liability policy
> greater than the limits of the Insured's auto liability policy -
equal to the limits of the insured's auto liability policy
The commissioner may fine a licensee up to what amount for violating a cease
and desist order and what amount for violating any other insurance law?
A driver in an auto accident may be required to post with the department of
licensing a security deposit in at least what amount?
> $500
> $1,000
✅✅-$500
> $2,500
> $5,000 -
An appointment letter gives the Producer expressed authority to:
✅✅-represent the
> represent the Insurer.
> sell all lines of Insurance in the State of Washington. -
insurer
If the Insurer cancels, any unearned premium must be refunded to the Insured
within:
> 10 days
> 20 days
✅✅-45 days
> 45 days
> 90 days -
Jabin is an independent Producer representing a number of Insurers,
including the Mean Insurance Company. For no reason at all, Mean decides to
terminate Jabin's appointment. Mean is required to offer to renew any of the
policies in Jabin's book of business for 1 year. What does Washington law say
about commissions on those renewed policies?
> Jabin is not entitled to any commission because his appointment has been
terminated.
> Jabin is entitled to a commission on the renewed policies for 1 year.
> Washington law is silent on the issue - Jabin and the Insurer must negotiate
the commission split.
✅✅
> Jabin is entitled to a commission for as long as the policies continue to be
renewed. - -Jabin is entitled to a commission on the renewed policies for
1 year
Making false or misleading policy comparisons to induce policy replacement
is:
> twisting
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