PCIP Insurance Learning checks Exam Questions with complete Answers 2024/2025
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PCIP Insurance Learning checks Exam Questions with complete Answers 2024/2025
Which are assets that are in excess of an insurer's liability for reported losses, expenses, taxes, and reinsurance of outstanding risks - correct answer paid-in capital
Which circumstances in a pretext interview de...
PCIP Insurance Learning checks Exam Questions with complete
Answers 2024/2025
Which are assets that are in excess of an insurer's liability for reported losses,
expenses, taxes, and reinsurance of outstanding risks - correct answer paid-in
capital
Which circumstances in a pretext interview determine if the questions are
permissible - correct answer When an insured is consulted by a person who hides
his true identity on purpose when fraud for a claim is suspected.
An agent or representative who issues long term care insurance must do all of the
following EXCEPT - correct answer complete a total of 10 hours of continuing
education if licensed before January 1st, 2002.
Which of the following provisions of free insurance offered as an incentive to
purchase or rent property is TRUE - correct answer It requires a separate charge
or fee
If fiduciary funds are received by any licensee, the funds shall be maintained in
any of the following EXCEPT - correct answer bonds issued in all 50 states of the
United States.
What is the punishment for a person who refuses to deliver books, records, or
assets to the commissioner when subject to a seizure order in an insolvency
proceeding - correct answer Not more than $1000 fine and/or 1 year
imprisonment
,Which form of negotiation is covered under the definition of "transact" as applied
to insurance - correct answer Negotiations preliminary to execution
How can a licensee surrender any license for cancellation - correct answer By
submitting written notice or by delivering the license to the commissioner.
Where shall an express warranty be made - correct answer in the policy itself
Which of the following terms refers to any evidence or documentation in the
possession of the insurer that provides any evidence of a claim and that
reasonably supports the magnitude or the amount of the claimant loss - correct
answer proof of claim
What is the maximum fine for a person who transacts insurance without a valid
license - correct answer $50,000 and/or imprisonment for a period not exceeding
one year.
In the event of receiving notice of a claim or other claim communication, all of the
following timelines are accurate EXCEPT - correct answer every licensee or claims
agent shall transmit notice of the claim to the insurer in no more than 5 calendar
days.
When may a surplus line broker solicit and place insurance for a home state
insured with a nonadmitted insurer - correct answer If the same insurance
coverage cannot be procured from an admitted insurer.
Which is considered nonpublic personal information as defined by the California
Financial Code - correct answer tax return
, When is a representation false - correct answer when the facts fail to correspond
with its assertions or stipulations
Which of the following is the method wherein a contract of insurance is finalized
as relates to the sales process - correct answer Execution of a contract of
insurance
Which group of people is offered additional protection by the Unfair Practices Act
that regulates trade practices in the business of insurance - correct answer
survivors of the Holocaust
As used in the insurance code, the word "shall" is mandatory and the word "may"
is permissive EXCEPT - correct answer unless otherwise apparent from the
context.
According to CIC Section 1711, an organization ceases to exist as an entity eligible
to hold a license EXCEPT - correct answer upon the termination of all contracts
"Notice of legal action" can mean all of the following EXCEPT - correct answer
notice of action against the agent
Which is an INACCURATE statement regarding standards to avoid unfair
underwriting for applicants at risk for auto immune deficiency, human
immunodeficiency virus, or AIDS related conditions - correct answer Insurers are
permitted to schedule AIDS and HIV testing without the specific consent of the
individual applying for insurance.
Which of the following is an INACCURATE statement regarding replacement for
long-term care coverage - correct answer Group long-term care policies have the
same rules regarding replacement as individual long-term care policies.
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