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Xcel Ch. 8B-2 PA laws Questions And Answers, Exams of Insurance law

A resident producer license requires each of the following EXCEPT - ANS-Insurer appointment Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status? - ANS-The insurer significantly raises co-insurance charges, deductibles, or co-payment charges Under Pennsylvania statute, first year commission for long-term care insurance may not be greater than - ANS-50% of the first year premium As of January 1, 2014, an employer with up to 25 full time equivalent (FTE's) with average annual wages of less than $50,000 may be eligible for a tax credit of ___ of the premiums paid by the employer. - ANS50%

Typology: Exams

2023/2024

Available from 10/29/2024

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Xcel Ch. 8B-2 PA laws Questions And Answers
A resident producer license requires each of the following EXCEPT - ANS-Insurer appointment
Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status? -
ANS-The insurer significantly raises co-insurance charges, deductibles, or co-payment charges
Under Pennsylvania statute, first year commission for long-term care insurance may not be greater than
- ANS-50% of the first year premium
As of January 1, 2014, an employer with up to 25 full time equivalent (FTE's) with average annual wages
of less than $50,000 may be eligible for a tax credit of ___ of the premiums paid by the employer. - ANS-
50%
Which of the following is required to maintain a producers license in Pennsylvania? - ANS-Field
underwriter, who solicits insurance and earns a commission
Which prohibited act involves a producer spending a client's insurance premiums for his/her own
personal use? - ANS-Embezzlement
In Pennsylvania a Long-Term care policy must be______renewable. - ANS-Guaranteed
In order to solicit insurance in Pennsylvania, all of the following is required EXCEPT - ANS-be at least 21
years of age
The Pennsylvania Life and Health Guarantee Association protects life insurance death benefit claims up
to - ANS-$300,000
Commissions may be shared by - ANS-licensed and appointed Producers
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Xcel Ch. 8B-2 PA laws Questions And Answers

A resident producer license requires each of the following EXCEPT - ANS-Insurer appointment

Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status? - ANS-The insurer significantly raises co-insurance charges, deductibles, or co-payment charges

Under Pennsylvania statute, first year commission for long-term care insurance may not be greater than

  • ANS-50% of the first year premium

As of January 1, 2014, an employer with up to 25 full time equivalent (FTE's) with average annual wages of less than $50,000 may be eligible for a tax credit of ___ of the premiums paid by the employer. - ANS- 50%

Which of the following is required to maintain a producers license in Pennsylvania? - ANS-Field underwriter, who solicits insurance and earns a commission

Which prohibited act involves a producer spending a client's insurance premiums for his/her own personal use? - ANS-Embezzlement

In Pennsylvania a Long-Term care policy must be______renewable. - ANS-Guaranteed

In order to solicit insurance in Pennsylvania, all of the following is required EXCEPT - ANS-be at least 21 years of age

The Pennsylvania Life and Health Guarantee Association protects life insurance death benefit claims up to - ANS-$300,

Commissions may be shared by - ANS-licensed and appointed Producers

Which of the following is the Pennsylvania Insurance Department NOT responsible for? - ANS- Shareholders

A producer that willfully violates any provision of Pennsylvania Insurance law may be imposed to a maximum penalty sit by the Commissioner at - ANS-$5,000 per violation

What is the required action to be taken by a Pennsylvania licensee before operating under an assumed business name? - ANS-Notify Commissioner

A temporary license may be issued without state examination to all of the following EXCEPT - ANS-A prospective Producer who is currently enrolled in a pre-licensing insurance class

In Pennsylvania, a producer may have their license revoked for which of the following acts? - ANS- Signing a prospect's name without their knowledge or presence

If the Insurance Department determines that the issuance of a temporary producer license serves in the public's best interest, the license may be issued to - ANS-an executor of a deceased producers estate

Violating Pennsylvania law may result in which of the following Insurance Department actions? - ANS- Issuance of a cease and desist order after hearing

A common exclusion or limitation on a dental policy is - ANS-Endodontics

All of these are considered a form of advertising EXCEPT - ANS-an insurer's A.M. Best rating

A producer who offers 10% of his commission to a potential client as an inducement to purchase an insurance policy is committing the act of - ANS-inducement