100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
PSI PA Property and Casualty Exam Guide| exam questions and answers correct and verified A+ $12.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. PSI PA Property And Casualty
  4.  
  5. PSI PA Property and Casualty

Exam (elaborations)

PSI PA Property and Casualty Exam Guide| exam questions and answers correct and verified A+
 8 views  0 purchase
  • Course
  • PSI PA Property and Casualty
  • Institution
  • PSI PA Property And Casualty

PSI PA Property and Casualty Exam Guide| exam questions and answers correct and verified A+ PSI PA Property and Casualty Exam Guide| exam questions and answers correct and verified A+ Broker - correct answers-According to the insurance law, who is the principal? 90 days - correct answers-A...

[Show more]

Preview 2 out of 13  pages

Document information

  • October 27, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • psi pa property and casualty exam guide exam ques

Written for

  • PSI PA Property and Casualty
  • PSI PA Property and Casualty

Seller

avatar-seller
CleverCopies

Reviews received

Content preview

PSI PA Property and Casualty Exam Guid
yr yr yr yr yr yr




e| exam questions and answers correct a
yr yr yr yr yr yr




nd verified A+
yr yr




Brokeryr-yrcorrectyranswers-Accordingyrtoyrtheyrinsuranceyrlaw,yrwhoyrisyrtheyrprincipal?
90yrdaysyr-yrcorrectyranswers-
Anyrapplicationyrasyrayrresidentyragentyrmustyrbeyrmadeyrinyrhowyrmanyyrdaysyrifyranyrindividualyrestablishesyrayrpr
incipalyrplaceyrofyrresidenceyrwithinyrPayrfromyranotheryrstate?
ayrtemporaryyrlicenseyr-yrcorrectyranswers-
issuedyrforyr180yrdaysyrforyrsurvivingyrspouse,yrsurvivingyrinactiveyrofficeryroryrpartner,yrlegalyrrepresentative.yrC
anyrbeyrusedyruponyrdeathyroryrincompetencyyrofyrproducer,yroryrwhenyrindividualsyrareyrservingyrinyrtheyrmilitary
.
EndorseyrInsurersyr-yrcorrectyranswers-Commissioneryrcanyrdoyrallyrofyrtheyrfollowingyrexcept?
providesyrincorrectyroryrmisleadingyrinfo,yrbeenyrdeniedyrinyranotheryrstateyroryrviolatedyrcommonwealthyrinsur
anceyrlaws.yr-yrcorrectyranswers-Insuranceyrdepartmentyrcanyrdenyyranyrapplicationyrifyrtheyrapplicant....
Ceaseyr&yrDesistyrorderyr-yrcorrectyranswers-
theyrinsuranceyrdepartmentyrmayyrissueyrthisyrwhichyrrequiresyrtheyrinsureryroryrpersonyrtoyrstopyractivityyrinyrqu
estion
theyrGovernoryr-yrcorrectyranswers-Insuranceyrcommissioneryrisyrappointedyrby...
GuarantyyrFundyr-yrcorrectyranswers-
administeredyrbyyrayrU.S.yrstateyrtoyrprotectyrpolicyholdersyrinyrtheyreventyrthatyranyrinsuranceyrcompanyyrdefaul
tsyronyrbenefityrpaymentsyroryrbecomesyrinsolvent.yrProducersyrareyrprohibitedyrtoyradvertiseyrit'syrexistenceyrtoy
rsecureyrbusiness.

RateyrRegulationyr-yrcorrectyranswers-
Performedyrbyyrcommissioneryrtoyrprohibityrratesyrthatyrareyrexcessive,yrinadequateyroryrunfairly;yyrdiscriminat
ory.
10yrworkingyrdaysyr-yrcorrectyranswers-Insuranceyrcompanyyrshouldyracknowledgeyrreceiptyrofyrclaimyrwithin...
15yrdaysyr-yrcorrectyranswers-Insuranceyrshouldyrrespondyrtoyrinsuranceyrdepartmentyrinquiryyrwithin...
Rebatingyr-yrcorrectyranswers-
Bribery,yrreturningyrayrportionyrofyrtheyrpremiumyroryrtheyragent's/broker'syrcommissionyronyrtheyrpremiumyrtoyr
theyrinsuredyroryrotheryrINDUCEMENTSyrtoyrplaceyrbusinessyrwithyrayrspecificyrinsurer.
Misrepresentationyr-yrcorrectyranswers-Whenyrproduceryrmakesyrfalseyrstatements
Twistingyr-yrcorrectyranswers-
Whenyrinsuranceyragentyrmakesyrincompleteyrcomparisonsyrasyranyrinducementyrtoyrterminate,yrsurrenderyron
e'syrpolicyyrforyranotheryrofyrsimilaryrrisks
FalseyrAdvertisingyr-yrcorrectyranswers-usingyrmediayrwithyrdeliberateyrdeceityrtoyrdefraud
Coercionyr-yrcorrectyranswers-persuadingyrsomeoneyrtoyrbuyyrinsuranceyrthroughyrtheyruseyrofyrthreats
Misappropriationyrofyrfundsyr-yrcorrectyranswers-improperyrholding,yrbreakingyrfiduciaryyrobligations
Defamationyr-yrcorrectyranswers-
makingyrfalseyroryrderogatoryyrstatementsyrasyrtoyrinsuranceyrcompany'syrfinancialyrposition
Redliningyr-yrcorrectyranswers-unfairyrdiscriminationyrbasedyronyrlocationyrofyrinsured'syrhomeyroryrbusiness
Comminglingyrfundsyr-yrcorrectyranswers-
whenyrayrproduceryrisyrcollectingyrpremiumsyrfromyrapplicantsyrandyraddingyrityrtoyrtheiryrpersonalyrfunds,yrholdi
ngyroutyrpremium

, Fiduciaryyrresponsibilityyr-yrcorrectyranswers-
isyrayrproducer'syrobligationyrtoyrhandleyrfundsyrofyrtheyrinsuredyrinyrayrresponsibleyrandyrethicalyrmanner
TheyrInsureryr-yrcorrectyranswers-Whoyrcanyrterminateyrayrproducersyrappointment
InsuranceyrProduceryr-yrcorrectyranswers-
meansyranyyrperson/entityyrwhoyroryrwhichyrisyrlicensedyrtoyrsolicit,yrnegotiate,yroryrsellyrinsurance.
theyrdepartmentyrofyrinsuranceyr-yrcorrectyranswers-
Whoyrisyrallowedyrtoyrconductyrasyrmanyyrexaminationsyrofyrinsuranceyragencies/agentsyrasyrtheyyrwant
Commissionsyr-yrcorrectyranswers-canyrbeyrsharedyrwhenyr2yrproducersyrareyrinyrtheyrsameyrauthority
ConsultingyrFeesyr-yrcorrectyranswers-
allowed,yrmustyrincludeyrayrwrittenyradvanceyrnoticeyrofyrtheyrfeeyrdisclosedyrtoyrtheyrpersonyrandyrmustyrbeyrreas
onableyrinyrrelationshipyrtoyrserviceyrprovided
Gramm-Leach-BaileyyrActyr-yrcorrectyranswers-
purposeyrisyrtoyrprotectyrtheyrprivacyyrofyrconsumeryrfinancialyrinfoyr(customersyrcanyroptyroutyrandyrprohibityrins
uranceyragencyyrfromyrdisseminatingyrnonpublicyrpersonalyrinfoyrtoyrnon-affiliatedyrthirdyrparty)
$5000/$10000/$15000yr-yrcorrectyranswers-
InsuranceyrFraudyrRegulation,yrcriminalyrprosecutionyrandyrcivilyrpenaltyyrupyrto?yr(amounts)
FairyrCredityrReportingyrActyr-yrcorrectyranswers-
establishedyrtoyrprotectyrconsumersyrfromyrunfairyrandyrinaccurateyrinfo,yrmaxyrpenaltyyrofyr$2500yrand/oryr2yrye
arsyrinyrprison
protectyragainstyrtheyrcirculationyrofyrinaccurateyroryrobsoleteyrpersonalyroryrfinancialyrinfo.yr-yrcorrectyranswers-
QOT:yrPrimaryyrpurposeyrofyrtheyrFCRAyr(fairyrcredityrreport.yract)yrisyrto...?
$50,000yrand/oryr10-15yryearsyrinyrprisonyr-yrcorrectyranswers-Fraudyr&yrFalseyrstatements---
fraudyrthatyraffectsyrinterstateyrcommerceyrsuffersyrmaxyrpenaltyyrof...
Riskyr-yrcorrectyranswers-exposureyrtoyroryruncertaintyyrofyrloss
PureyrRiskyr-yrcorrectyranswers-
onlyyrcanyrbeyrnoyrchargeyroryrloss,yronlyyrtypeyrofyrriskyrinsuranceyrcoversyr(noyrfinancialyrgain)
SpeculativeyrRiskyr-yrcorrectyranswers-
canyreitheryrbeyrlostyroryrhaveyrtheyrchanceyrtoyrwinyrfromyrayrriskyr(ex.yrGambling)
Hazardsyr-yrcorrectyranswers-conditionsyrthatyrincreaseyrtheyrprobabilityyrofyranyrinsuredyrloss
PhysicalyrHazardyr-yrcorrectyranswers-
individualyrcharacteristicsyrthatyrincreaseyrtheyrchancesyrofyrtheyrcauseyrofyrloss---
(physicalyrcondition,yrpastyrmedicalyrhistory,yrbirthyrdefect,yrblindness)
MoralyrHazardyr-yrcorrectyranswers-tendenciesyrtowardsyrincreasedyrriskyr(character/reputation)
MoraleyrHazardsyr-yrcorrectyranswers-
ariseyrfromyrstateyrofyrmindyrthatyrcausesyrindifferenceyrtoyrlossyr(carelessness)
Elementsyrofyrinsurableyrriskyr-yrcorrectyranswers-
mustyrbeyrdefinable,yraccidental,yrpredictable,yrlawyrofyrlargeyr#syrshouldyrapply,yrcreateyrfinancialyrhardship,yrre
asonableyrpremiums,yrnotyrcatastrophic
Exposureyr-yrcorrectyranswers-
unityrofyrmeasurementyrusedyrtoyrdetermineyrratesyrchargedyrforyrinsuranceyrcoverage
Homogeneousyr-yrcorrectyranswers-largeyr#yrofyrunitsyrhavingyrtheyrsameyroryrsimilaryrexposureyrtoyrloss
Insuranceyr-yrcorrectyranswers-
transfersyrtheyrriskyrofyrlossyrfromyrindividualyroryrentityyrtoyrinsuranceyrcompany,yrwhichyrspreadsyrtheyrcostsyrofyr
unexpectedyrlossesyrtoyrmanyyrindividuals,yrincludesyrsolicitation,yrnegotiations,yrsale,yrandyradvisingyronyrindivi
dualyrconcerns,yrcoverageyroryrclaims
Lossyr-yrcorrectyranswers-
theyrreduction,yrdecrease,yroryrdisappearanceyrofyrvalueyrofyrtheyrpersonyroryrpropertyyrinsuredyrinyrayrpolicy,yrca
usedyrbyyrayrnamedyrperil

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller CleverCopies. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81113 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

REE5305 Exam 1 Questions with Complete Solutions
$12.99
  • (0)
  Add to cart