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PSI PA Property and Casualty Exam Guide Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers) $12.99   Add to cart

Exam (elaborations)

PSI PA Property and Casualty Exam Guide Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers)

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PSI PA Property and Casualty Exam Guide Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers)

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  • November 1, 2024
  • 50
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
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NurseFerian
PSI PA Property and Casualty Exam Guide.pdf about:bl




PSI PA Property and Casualty Exam Guide


1. According to the insurance law, who is the principal?

Answer Broker



2. 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?

Answer 90 days



3. issued for 180 days for surviving spouse, surviving inactive officer or

partner, legal representative. Can be used upon death or incompetency of

producer, or when individuals are serving in the military.

Answer a temporary license



4. Commissioner can do all of the following except?

Answer Endorse Insurers







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,PSI PA Property and Casualty Exam Guide.pdf about:bl




5. Insurance department can deny an application if the applicant. .........Answer

provides

incorrect or misleading info, been denied in another state or violated commonwealth

insurance laws.



6. the insurance department may issue this which requires the insurer or

person to stop activity in question

Answer Cease & Desist order



7. Insurance commissioner is appointed by...

Answer the Governor



8. administered by a U.S. state to protect policyholders in the event that an

insurance company defaults on benefit payments or becomes insolvent. Pro-

ducers are prohibited to advertise it's existence to secure business.

Answer GuarantyFund



9. Performed by commissioner to prohibit rates that are excessive, inadequateor

unfairly;y discriminatory.





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Answer Rate Regulation



10. Insurance company should acknowledge receipt of claim within ..........Answer

10 work-

ing days



11. Insurance should respond to insurance department inquiry within.

Answer15

Days



12. Bribery, returning a portion of the premium or the agent's/broker's commis-

sion on the premium to the insured or other INDUCEMENTS to place business

with a specific insurer.

Answer Rebating



13. When producer makes false statements

Answer Misrepresentation



14. When insurance agent makes incomplete comparisons as an inducementto





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,PSI PA Property and Casualty Exam Guide.pdf about:bl




terminate, surrender one's policy for another of similar risks

Answer Twisting



15. using media with deliberate deceit to defraud

Answer False Advertising



16. persuading someone to buy insurance through the use of threats

Answer Coercion



17. improper holding, breaking fiduciary obligations

Answer Misappropriation of funds



18. making false or derogatory statements as to insurance company's finan-

cial position

Answer Defamation



19. unfair discrimination based on location of insured's home or business

Answer -

Redlining





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