1 Exam (elaborations) Pennsylvania Property and Casualty Insurance Examination 2024 passed 2 Exam (elaborations) Chapter 1 Property and Casualty Insurance - Pennsylvania correctly answered to pass 2024 3 Exam (elaborations) Property and Casualty PA Quiz Questions well answered 4 Exam (elaboratio...
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Pennsylvania Law and Regulation Laws(Applicable only to Casualty Insurance) Financial Responsibility - correct answer Minimum limited of automobile liability are 15/30/5 -$15,000 per person for bodily injury -$30,000 per accident for bodily injury -$5,000 per accident for property damage Minimu...
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Add to cartPennsylvania Law and Regulation Laws(Applicable only to Casualty Insurance) Financial Responsibility - correct answer Minimum limited of automobile liability are 15/30/5 -$15,000 per person for bodily injury -$30,000 per accident for bodily injury -$5,000 per accident for property damage Minimu...
PA Property and Casualty Insurance - BondsBid Bonds - correct answer When construction projects are awarded based on the lowest bid. Promises that if the contractor is awarded the contract, the contractor will actually accept the contract, and a performance bond will be issued Completion Bonds - ...
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Add to cartPA Property and Casualty Insurance - BondsBid Bonds - correct answer When construction projects are awarded based on the lowest bid. Promises that if the contractor is awarded the contract, the contractor will actually accept the contract, and a performance bond will be issued Completion Bonds - ...
Pennsylvania Property and Casualty QuestionsWhich of the following is not a goal of risk retention? A. To minimize the insureds level of liability in the even of loss B. To reduce expenses and Improve cash flow C. To increase control of claim reserving and claims settlements D. To fund loss...
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Add to cartPennsylvania Property and Casualty QuestionsWhich of the following is not a goal of risk retention? A. To minimize the insureds level of liability in the even of loss B. To reduce expenses and Improve cash flow C. To increase control of claim reserving and claims settlements D. To fund loss...
Pennsylvania Laws and Regulations (Applicable to Property Insurance Only)Rate Regulation - correct answer -Insurance rates must not be excessive, inadequate, or unfairly discriminatory -Insurers must file every manual, minimum, class rate, rating schedule or rating plan with Commissioner (Filing m...
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Add to cartPennsylvania Laws and Regulations (Applicable to Property Insurance Only)Rate Regulation - correct answer -Insurance rates must not be excessive, inadequate, or unfairly discriminatory -Insurers must file every manual, minimum, class rate, rating schedule or rating plan with Commissioner (Filing m...
Pennsylvania Property and Casualty Law SupplementAgents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the followin...
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Add to cartPennsylvania Property and Casualty Law SupplementAgents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the followin...
Pennsylvania Property & Casualty Policy Conditions - correct answer How parties to the contract must act following a loss Discovery Form in Commercial Ins. - correct answer an occurrence taking place at any time & discovered during the policy period or extended reporting period (60 days) Vaca...
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Add to cartPennsylvania Property & Casualty Policy Conditions - correct answer How parties to the contract must act following a loss Discovery Form in Commercial Ins. - correct answer an occurrence taking place at any time & discovered during the policy period or extended reporting period (60 days) Vaca...
Pa property and casualty exam practice Executing the insurance laws of pA is whose responsibility? - correct answer Department of insurance In PA financial responsibility requires the ability of the insured to pay how much damage to the property of others from any single accident? - correct answ...
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Add to cartPa property and casualty exam practice Executing the insurance laws of pA is whose responsibility? - correct answer Department of insurance In PA financial responsibility requires the ability of the insured to pay how much damage to the property of others from any single accident? - correct answ...
PA property and casualty test prepIn a commercial general liability policy medical payment pay for medical expenses - correct answer Without regard to fault Which type of insurance protection guarantees protection against legal liability from any risk arising from the ownership, maintenance, or u...
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Add to cartPA property and casualty test prepIn a commercial general liability policy medical payment pay for medical expenses - correct answer Without regard to fault Which type of insurance protection guarantees protection against legal liability from any risk arising from the ownership, maintenance, or u...
Pennsylvania Property and Casualty (Applicable to All Lines of Insurance) Licensing Process 1. 24 credit hours 3. 3 of the 24 hours must be in ethics Licensing exam and relicensing education exemption 1. Business entities 2. Nonresident producers 3. Professional designators -CLU-Life...
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Add to cartPennsylvania Property and Casualty (Applicable to All Lines of Insurance) Licensing Process 1. 24 credit hours 3. 3 of the 24 hours must be in ethics Licensing exam and relicensing education exemption 1. Business entities 2. Nonresident producers 3. Professional designators -CLU-Life...
Pennsylvania Property and CasualtyLoss control Refers to actions taken and strategies implemented to reduce the frequency or severity of a loss. Insurance companies commonly incentivize their customers to implement loss contras by offering discounts that reduce insurance premiums -insurers make ...
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Add to cartPennsylvania Property and CasualtyLoss control Refers to actions taken and strategies implemented to reduce the frequency or severity of a loss. Insurance companies commonly incentivize their customers to implement loss contras by offering discounts that reduce insurance premiums -insurers make ...
Pennsylvania Property and Casualty Comprehensive TestA person wanting to insure a single shipment would use: - correct answer A Trip Transit Form Which statement about the Umbrella Liability Policy is false? - correct answer The standard deductible on an umbrella policy is $100,000 Which of th...
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Add to cartPennsylvania Property and Casualty Comprehensive TestA person wanting to insure a single shipment would use: - correct answer A Trip Transit Form Which statement about the Umbrella Liability Policy is false? - correct answer The standard deductible on an umbrella policy is $100,000 Which of th...
Pennsylvania 2019 Insurance license ExamInsurance - correct answer Is a contract in which one party (the insurance Company) agrees to indemnify (make whole) the insures party against loss, damage or liability arising from an unknown event. Risk - correct answer Is the uncertainty or chance of a l...
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Add to cartPennsylvania 2019 Insurance license ExamInsurance - correct answer Is a contract in which one party (the insurance Company) agrees to indemnify (make whole) the insures party against loss, damage or liability arising from an unknown event. Risk - correct answer Is the uncertainty or chance of a l...
Unit 21: Pennsylvania Laws and Regulations Common to Property and Casualty InsuranceC) Both of these - correct answer Which of the following could be paid an insurance commission or fee? A) Neither of these B) Lenny, a retired insurance producer who no longer maintains a license but whose book of ...
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Add to cartUnit 21: Pennsylvania Laws and Regulations Common to Property and Casualty InsuranceC) Both of these - correct answer Which of the following could be paid an insurance commission or fee? A) Neither of these B) Lenny, a retired insurance producer who no longer maintains a license but whose book of ...
PSI PA Property and Casualty Exam GuideBroker - correct answer According to the insurance law, who is the principal? 90 days - correct answer An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? ...
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Add to cartPSI PA Property and Casualty Exam GuideBroker - correct answer According to the insurance law, who is the principal? 90 days - correct answer An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? ...
Property & Casualty - PA - BasicsProperty Insurance - correct answer 2 party contract. Casualty Insurance - correct answer 3rd party contract. Liability. Insurable Interest - correct answer Financial someone has in someone or something. Required for coverage. Must exist AT THE TIME OF LOSS. ...
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Add to cartProperty & Casualty - PA - BasicsProperty Insurance - correct answer 2 party contract. Casualty Insurance - correct answer 3rd party contract. Liability. Insurable Interest - correct answer Financial someone has in someone or something. Required for coverage. Must exist AT THE TIME OF LOSS. ...
Property & Casualty - PA - Insurance RegulationPurpose of insurance regulation. - correct answer Assure the public is treated fairly and equitably. Requirements to be licensed. - correct answer Pre-licensing requirements, pass the exam, pay application fee Producer's license. - correct answer...
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Add to cartProperty & Casualty - PA - Insurance RegulationPurpose of insurance regulation. - correct answer Assure the public is treated fairly and equitably. Requirements to be licensed. - correct answer Pre-licensing requirements, pass the exam, pay application fee Producer's license. - correct answer...
Property and Casualty PA Quiz QuestionsAll 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 su...
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Add to cartProperty and Casualty PA Quiz QuestionsAll 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 su...
Chapter 1 Property and Casualty Insurance - PennsylvaniaRisk - correct answer The chance or UNCERTAINTY of loss. Uncertainty of loss - correct answer Risk is not the loss itself but the... Exposure - correct answer A condition or situation that presents a possibility of loss What are the di...
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Add to cartChapter 1 Property and Casualty Insurance - PennsylvaniaRisk - correct answer The chance or UNCERTAINTY of loss. Uncertainty of loss - correct answer Risk is not the loss itself but the... Exposure - correct answer A condition or situation that presents a possibility of loss What are the di...
Pennsylvania Property and Casualty Insurance Examination According tot he fair credit reporting act, all of the following would be considered negative information except - correct answer Disputes regarding consumer report information Which of the following does a produce not have the authority t...
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Add to cartPennsylvania Property and Casualty Insurance Examination According tot he fair credit reporting act, all of the following would be considered negative information except - correct answer Disputes regarding consumer report information Which of the following does a produce not have the authority t...
PA Property and CasualtyWhat is the purpose of licensing? - correct answer Reinforces the purpose of insurance regulation - that the public is treated fairly and equitably by those who sell and distribute insurance. Licensing prerequisites - correct answer 24 credit hours of study in approved cou...
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Add to cartPA Property and CasualtyWhat is the purpose of licensing? - correct answer Reinforces the purpose of insurance regulation - that the public is treated fairly and equitably by those who sell and distribute insurance. Licensing prerequisites - correct answer 24 credit hours of study in approved cou...
PA Property & Casualty License Practice ExamAn exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of an earthquake, mudslide, landslide, or sinkhole. - correct answer an Earth movement exclusion An exclusion that states that an ins...
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Add to cartPA Property & Casualty License Practice ExamAn exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of an earthquake, mudslide, landslide, or sinkhole. - correct answer an Earth movement exclusion An exclusion that states that an ins...
PA property and casualty insurance examProperty -correct answer you can possess/ physically touch BI -correct answer bodily injury PD -correct answer Property damage Liability/casualty -correct answer what you pay the other guy personal lines insurance -correct answer cover needs of indi...
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Add to cartPA property and casualty insurance examProperty -correct answer you can possess/ physically touch BI -correct answer bodily injury PD -correct answer Property damage Liability/casualty -correct answer what you pay the other guy personal lines insurance -correct answer cover needs of indi...
Pennsylvania property and casualtyA policy covering commercial risks is subject to midterm cancellation for non-payment of premium upon how many days' written notice? - correct answer 15 days the waiting period for payment of workers compensation benefits is - correct answer 7 days. the retroact...
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Add to cartPennsylvania property and casualtyA policy covering commercial risks is subject to midterm cancellation for non-payment of premium upon how many days' written notice? - correct answer 15 days the waiting period for payment of workers compensation benefits is - correct answer 7 days. the retroact...
Pennsylvania Property and Casualty Law SupplementAgents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the followin...
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Add to cartPennsylvania Property and Casualty Law SupplementAgents and brokers must notify the Insurance Department of any change in their residence or business address within: - correct answer 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the followin...
Property and casualty insurance Exam Questions and Answers Part oneWhich of the following are the authorities that an agent can hold? - correct answer Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - correct answer Permanen...
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Add to cartProperty and casualty insurance Exam Questions and Answers Part oneWhich of the following are the authorities that an agent can hold? - correct answer Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - correct answer Permanen...
Pennsylvania Property and Casualty Licensing Law of Large Numbers - correct answer Recognizes that as the number of exposure units increases, the more likely it is to predict accurately the expected outcome. What must an insurance producer do to apply for a nonresident license in Pennsylvania? -...
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Add to cartPennsylvania Property and Casualty Licensing Law of Large Numbers - correct answer Recognizes that as the number of exposure units increases, the more likely it is to predict accurately the expected outcome. What must an insurance producer do to apply for a nonresident license in Pennsylvania? -...
Pennsylvania Laws and Regulations Applicable to Property and Casualty InsuranceInsurance Guaranty Association - correct answer Pennsylvania Property and Casualty Insurance Guaranty Association - Every property and casualty insurer must participate as a condition of authority to write P&C policies i...
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Add to cartPennsylvania Laws and Regulations Applicable to Property and Casualty InsuranceInsurance Guaranty Association - correct answer Pennsylvania Property and Casualty Insurance Guaranty Association - Every property and casualty insurer must participate as a condition of authority to write P&C policies i...
PA Property and Casualty Casualty or Liability - correct answer refers to your legal responsibility to pay for damage that you do to the "other guy's" body or property. Personal lines insurance - correct answer written to cover the risk exposures of an individual or family (auto, home, boat, ...
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Add to cartPA Property and Casualty Casualty or Liability - correct answer refers to your legal responsibility to pay for damage that you do to the "other guy's" body or property. Personal lines insurance - correct answer written to cover the risk exposures of an individual or family (auto, home, boat, ...
Property and Casualty, Chapter 2, Property and Casualty Insurance Basics The ABC corporation has $100,000 coverage on its building through insurance Company A, and $50,000 of identical coverage on the same building through insurance Company B. Assuming coinsurance is not an issue, when a $24,000 lo...
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Add to cartProperty and Casualty, Chapter 2, Property and Casualty Insurance Basics The ABC corporation has $100,000 coverage on its building through insurance Company A, and $50,000 of identical coverage on the same building through insurance Company B. Assuming coinsurance is not an issue, when a $24,000 lo...
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