hawaii insurance

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Certificate Authority

An insurers license to conduct business in Hawaii is called a

whose sum of all insurance and self insurance is less that what is required by law

An underinsured motor vehicle is one

18 years old

Applicants must be at least

5 years

Insurance producers and adjusters must keep recorders of all transactions for _________ years

$10,000

The personal Injury Protection benefits that every motor vehicle insurance policy must include, provide an aggregate limit of how much per person

Insurance Dividends

A mutual insurance company is an insurer owned by its policyholder. Policy holder may share in the company's profits in the form of

5 years

A producer must maintain accounts or records of all insurance transactions for how many years?

30 days

A producer who changes his address has how long to notify the commissioner?

Rebating

A prospective insured who knowingly accepts a portion of the producers commission in return for buying a policy best describes

quarter

A surplus lines broker must file with the Commissioner a statement of all surplus lines insurance transacted during the pervious calendar

6 months /// 180 days

A temporary license may be issued for a period of how many months

failing to respond to communications from insureds with in 14 business day

All of the following are considered unfair claim settlement practices EXCEPT

PIP coverage is designed to eliminate tort liability cases

All of the following statement are correct with regard to the purpose of the Hawaii Personal Injury Protection ( pip) insurance law EXCEPT?

if any employee hired in Hawaii suffers a work injury, he shall not be entitled to compensation if the injury was sustained outside the state.

All of the following statements are correct with regard to workers comp laws in Hawaii EXCEPT

in addition to a cease and desist order a fine of no more than 500 may be imposed

All of the following statements are true regarding cease and desist orders EXEPT

Members may be assessed an amount that is no more that 10% of their annual direct written premium

All of the following statements are true with regard to assessments under the Hawaii Insurance Guaranty Association Act EXCEPT

Surplus lines insurer

An UNAUTHORIZED insurance company may also be referred to as a

12 months

An insurance producer who lets his license laps, may apply with

statement listing the premiums, amounts of liability and rating factors for each peril

An insurer issuing a multi peril policy must provide the policyholder with a

30 days

An insurer that terminates an appointment must notify the commissioner with in

surplus lines

An insurer with out a certificate of authority may transact which of the following lines of insurance

5 years

Brokers records must be maintained for ____ years after contract termination

11 hours

CE requires ________ hours for property and casualty

3 hours

CE requires _________ hours in ethics and insurance law and regulation

10 hours

CE requires _________ hours relating to life and disability

a licensed person who is licensed in the same line of insurance

Commissions paid to a licensed property insurance producers may be shared with

24 hours

Continuing Education ( CE ) Total hours for each 2 year licensing period

prosecuting producers for violating state laws

Each of the following is a power and duty of the Commissioner of Insurance in Hawaii EXCEPT

rated inland marine risks

Every insurer must file with the commissioner of Insurance in the State of Hawaii all of the following EXCEPT

Workers Compensation

HEMIC provides what type of insurance

15 days

Hearing of unfair trade practices

cease and desist order

If an insurer violates any section of the insurance code, what can the commissioner issue to stop the insurer from committing the violation

30 days

In the even an insurer cancels or refuses to renew a motor vehicle insurance policy it shall provide how many days written notice to the insured before the effective date of cancellation or refusal to renew?

$10,000

Insurance code violation MAXIMUM fine per violation

$100

Insurance code violation Minimum fine per violation

1 year

Insurance code violation imprisonment up to

10 days

Insurance code violators must pay fines with in

4 years

Licensees must maintain records for _______ years after course completion.

$10,000

Maximum for the return of unearned premium

Full amount

Maximum for workers comp claims

$300,000

Maximum per claimant for all other covered claims

30 days

Name or address change must be reported to the Commissioner with in

30 days

Payment of PIP benefits shall be made within how many days after the insurer has received reasonable proof of loss and demand for payment?

5 years

Producers ( sales agents) must maintain transaction records for

3 hours

Producers licensed to transact property and casualty insurance must complete how many hours of continuing education every biennium devoted solely to Hawaii laws and rules

30 days

Producers must report with in _____________ days any criminal prosecution, or civil administrative actions taken against the producer in any jurisdiction

Credit Report

Proof of financial responsibility may be given by filing any of the following EXCEPT

$10,000 bond

Public adjusters are required to post a

30 days

Rates must be filed with commissioner ________ days before effective date

180 days

Temporary producer license may be issued without exam for up to

a person who allows a neighbor to use the covered auto time to time

The Hawaii Joint Underwriting Plan shall provide PIP no fault benefits in policies for various classes of insureds. Which of the following classes would NOT qualify for coverage under the Joint Underwriting Plan?

if a licensee holds money in a fiduciary capacity

The insurance commissioner may suspend, revoke or refuse to extend any license issued under Hawaii law for each of the following reasons EXEPT

15 days

The insurer must file notice of appointment with in _______ days of the agency contract date, or first insurance application

protect policy owners against the failure of impaired or insolvent companies to pay claims

The purpose of the Hawaii Insurance Guaranty Association Act is to

3 days

The waiting period for workers comp income benefits is how many days

$10,000

Unfair trade practice MAX FINE unknowingly committed

$10,000

Unfair trade practice MAX for violating a cease and desist

$50,000

Unfair trade practice MAXIMUM KNOWINGLY committed

$5,000

Unfair trade practice Per violation KNOWINGLY committed

$1,000

Unfair trade practice per violation UNKNOWINGLY committed

Actual Cash Value (ACV)

Unless an exception exits, Hawaii's over insurance statue states a property may be not insured for more than

over insuring the building

When buying insurance on a building , which of the following acts is illegal

20/40/10

Which of the following are the minimum limits of automobile insurance liability required in the state of Hawaii?

The offer of a valuable consideration not specified in the policy

Which of the following best describes the process of rebating?

Tort liability of the owner of an insured motor vehicle

Which of the following has been abolished as a result of Personal Injury Protection ( no Fault) coverage?

It may be offered by the insurer but may be rejected by the insured

Which of the following is correct about Uninsured Motorist coverage in Hawaii?

The producer

Which of the following parties would be notified regarding the revocation or suspension of a producers license?

The Hawaii Attorney General

Which of the following persons is permitted to prosecute producers who break Hawaii insurance laws?

No person may drive a motorcycle or motor scooter in Hawaii unless it is insured

Which of the following statements about motorcycles and motor scooters is CORRECT?

Insurance rates are regulated to encourage uniformity in rates and rating systems.

Which of the following statements about the registration of insurance rates is NOT correct?

attorney who adjusts losses from time to time

Which of the following statements is NOT correct regarding qualifications for and adjuster license?

The surplus lines insurance must be procured at a rate that is lower than the prevailing rate for the same type of coverage

Which of the following statements is NOT correct regarding surplus lines insurance?

The commissioner and the Department of Insurance are responsible for all expenses associated with examination

Which of the following statements regarding the examination of insurers is NOT correct?

No premium on any fault policy shall be increased as a result of any accidents if the insured is not at fault in the accident.

Which of the following statements with regard to premium rates under Hawaii no fault insurance is CORRECT?

written notice of cancellation must be provided to the public safety commissioner

Which of the following statements with regard to workers comp coverage in the state of Hawaii is NOT correct?

Marine insurance

Which of the following types of insurance provides protection and indemnity coverage

All insurers authorized to write motor vehicle insurance

Who belongs to the Hawaii Joint Underwriting Plan?

$300,000

With the exception of workers comp claims and claims of unearned premiums, the maximum amount that the Hawaii Insurance Guaranty Association will pay for a covered claim is

12 months

producers license may be reinstated with in __________ from due date with payment of a penalty of double the unpaid licence renewal fee

90 days

workers comp rates must be filed________ days prior to the effective date


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