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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
