Pennsylvania Life Insurance - PA Laws & Rules.pdf file:///C:/Users/HP/Desktop/NIW/Pennsylvania%20Life%20Insuran
Pennsylvania Life Insurance - PA Laws/Rules
1. Which event must a producer report to the Commissioner?
Conducting business under an assumed name
Earning new insurance designations
Sharing commissions with another licensed producer
Involvement in an automobile accident
ANS Conducting business under an assumed name
2. If a producer misleads or fails to adequately disclose the title and true nature of a policy
offered to a potential insured, it may be considered
Defamation
Unfair discrimination
Misrepresentation Rebating
ANS Misrepresentation
3. Under the Fair Credit Reporting Act, which statement is true?
The consumer who was investigated must be advised that credit, insurance, or
employment was denied because of an unfavorable report.
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,Pennsylvania Life Insurance - PA Laws & Rules.pdf file:///C:/Users/HP/Desktop/NIW/Pennsylvania%20Life%20Insuran
Disclosure of the name of the reporting agency is prohibited.
The consumer must initiate legal action to remove unfavorable information from the
report.
A reporting agency must furnish an investigative report to any person who requests the
information.
ANS The consumer who was investigated must be advised that credit, insurance, or employment
was denied because of an unfavorable report.
4. Who reports a producer's termination of appointment to the Commisioner? The
producer
The insurer
The Insurance Department The
State
ANS The insurer
5. An insurer operating in the U.S. but headquartered outside the U.S. is a foreign
insurer
an alien insurer unauthorized
authorized
ANS an alien insurer
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6. An insurance company writing business in a state other than the one in which it is
domiciled is called
A foreign
A domestic
An Alien
A Illegal
ANS Foreign
7. In which situation could the producer of an insurer be personally liable? When the
producer acts with an insurer's oral but unwritten authority
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