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WASHINGTON STATE PROPERTY AND CASUALITY INSURANCE EXAM COMPLETE ACTUAL EXAM REAL QUESTIONS WITH WELL ELABORATED ANSWERS (VERIFIED SOLUTIONS) LATEST UPDATED VERSION |ALREADY GRADED A+ $20.49
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WASHINGTON STATE PROPERTY AND CASUALITY INSURANCE EXAM COMPLETE ACTUAL EXAM REAL QUESTIONS WITH WELL ELABORATED ANSWERS (VERIFIED SOLUTIONS) LATEST UPDATED VERSION |ALREADY GRADED A+
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WASHINGTON STATE PROPERTY AND CASUALITY INSURANCE EXAM COMPLETE ACTUAL EXAM REAL QUESTIONS WITH WELL ELABORATED ANSWERS (VERIFIED SOLUTIONS) LATEST UPDATED VERSION |ALREADY GRADED A+

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  • November 16, 2024
  • 61
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • washington state property
  • washington state property and casuality insurance
  • washington state property and casuality
  • washington state property and casuality insurance

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  • WASHINGTON STATE PROPERTY AND CASUALITY INSURANCE
  • WASHINGTON STATE PROPERTY AND CASUALITY INSURANCE

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WASHINGTON STATE PROPERTY AND CASUALITY
INSURANCE EXAM 2024-2025 COMPLETE ACTUAL EXAM
REAL QUESTIONS WITH WELL ELABORATED ANSWERS
(VERIFIED SOLUTIONS) LATEST UPDATED VERSION
|ALREADY GRADED A+


When is a insurance license exempt? - Answer-When they work at a
company or themself but do not conduct the solicitation, sale,
negotiation of insurance.


Appointing a insurance producer - Answer-- notice of appointment
within 15 days
- Commissioner will verify within 15 days
- if deemed ineligible commissioner will notify within 10 days


If approved it must e renewed every 2 years, and will receive notice
within 60 days of the renewal date.


Business Entity Affiliates - Answer-A business must have AT LEAST 1
affiliated individual licence to transact insurance


If business Entity Affiliate is terminated - Answer-The commissioner
must receive notice within 30 days of termination.

,Renewal - Answer-The initial licenses are valid from the date that they
are issued until the last day of the licensee's birth month.


Renewal Fees for Licences - Answer-(Every 2 years)
Producer- $55
Limited insurance- $20
Surplus lines broker- $20
Ajuster- $50


Late Fees:
30 days: 50% of renewal
31-60 days: 100%
61-12 months 200% (12+ months must restart licensing process)


Continuing Education (CE) - Answer-Every 2 years. 24 hours total, 3
hours in ethics.
must hold on to certificate for 3 years


Change of Address - Answer-Must contact commissioner within 30
days. this includes a change of residence, mailing, business, or email

,Reporting of Actions - Answer-You must report to the commissioner
within 30 days of any administrative action taken on them by another
jurisdiction or governmental agency


Convicted of a felony - Answer-Commissioner may revoke or refuse
insurers licenses immediately. Within 15 days may revoke a ordered
licence or by ordering a hearing within 10 days.


Suspended license period - Answer-up to 12 months


Guilty of violations - Answer-each fine of up to $1,000, must be paid
within 15-30 days


Place of Business Requirements - Answer-Must be accessible to the
public. Does not apply to life and disability insurance.


Record Retention - Answer-Requires insurer to maintain records for 5
years.


(DRPL) Designated Responsible Licensed Person - Answer-Responsible
for insurers compliance with insurance laws/ rules


Misrepresentation - Answer-Materials that are false, misleading, or
deceptive of policy benefits, terms, payment of dividends. Also includes
oral statements.

, Knowingly committing this is considered a gross misdemeanor, and
licences can be revoked


False Advertising - Answer-Advertising that is misleading, deceptive,
and untrue.


Ex: newspaper add with untrue statements about terms and benefits of
a policy.


Rebating - Answer-the practice of giving an individual a premium
reduction or some other financial advantage not stated in the policy as
an inducement to purchase the policy.


Authorized Insurer - Answer-An insurer that has qualified and received
a Certificate of Authority from the Department of Insurance to transact
insurance in the state.


Contact adhesion - Answer-the accepter of the contract must "adhere"
to the written contract


inducement - Answer-An action aimed at persuading


insolvent - Answer-Bankrupt; unable to pay debts.

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