PA Insurance regulations

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For a beneficiary to receive accidental death benefits, death of the insured generally must occur within how many days following the accident?

90

how long after a policy's issued date can innocent claims be used to void a policy

2 years

one of the first changes in health care due to ACA was providing dependent coverage until the Childs what number birthday

25th

a complaint record must be kept for at least

3 years

if a life insurance policy lapses for non payment, within how many years can the policy be reinstated

3 years

how long is the grace period for life insurance

30 days

the right to free look provision for a long term care policy is how long

30 days

within how many days must licensees notify the Insurance Department of change of address

30 days

how long is the conversion period

31 days

how long is the enrollment period and when is it

31 days, directly after the probationary period

interest earned and distributions made are tax free if a Roth IRA is maintained for at least how many years?

5 years

at what age can people begin making catch up contributions on retirement plans

50

each unmarried child 18 (19 if in high school) receives a benefit to equal what percentage of the disabled workers PIA

50%

at what age is an individual no longer subject to early withdrawal penalties under an IRA

59 1/2

When an employees coverage terminates under a group health policy the employee has the option to elect continuation within how many days

60 days

after a submitted claim and a proof of loss is submitted, how soon must the company pay the claim

immediately

which of the following is subject to to Pennsylvanias replacement regulations

individual life insurance

an insurance producer must be appointed by

insurance company

how many employees is considered a small employer

less than 25

All of the following are annuity premium factors excep

medical history

who is an authorized insurer

a company authorized to sell insurance in Pennsylvania

the deductible amount for a specified disease coverage cannot be more than

$250

A producer who knowingly violates the state's unfair trade practices law may be fined up to

$5,000 for each violation

In Pennsylvania, a producer's term of licensure is

2 years

an individual life insurance policy must become incontestable after being in place for how many years

2 years

What is the maximum period of time within which an insurance producer can reinstate a lapsed license without having to reapply for the license?

1 year

how long is the free look provision

10 days

All the following exclusions are permitted in a long-term care insurance policy, EXCEPT:

Alzthiemers

An insurance company's license to do business in Pennsylvania is called

a certificate of authority

An insured submits a notice of loss to his insurer, with all additional and necessary information, on January 1. As a general rule according to Pennsylvania law, by what date must the insurer complete its claims investigation?

January 31st

regarding the insurance business which, which of the following is an example of self regulatory body

NAIC

the premium for transferring a risk should be

affordable

which insurers must use the uniform health insurance claim form developed by the Pennsylvania Insurance Department

all insurers

who must sign endorsements, modifications, or any other changes to an insurance contract

an executive officer of the company

the entire contract includes everything EXCEPT

buyers guide

a life insurance policy must give the policy owner at least how many days after delivery of policy to cancel the policy

10 days

a life insurance policy must give the policy owner at least how many days after delivery to cancel the policy

10 days

for an insured to be eligible to receive social security benefits and achieve fully insured status she must have paid into social security for

10 years earning 40 credits

if a group insurance policy is non contributory, what percentage of employees must participate

100%

To be qualified for an insurance producer license in Pennsylvania, an individual applicant must have reached the age of

18

under COBRA the maximum period of coverage for termination o employment or a reduction in hours is

18 months

What is the maximum term of a temporary license that is issued as a result of a licensee's death?

180 days

what is the maximum term of a temporary license when given to after a licensees death

180 days

written notice of claim must be submitted within how many days

20 days

To enroll in an employer's qualified retirement plan, employees must be

21 years old and complete one year of service

how many hours of continuing educations must an insurance producer complete

24

Before applying for the insurance producer licensing examination, an individual must complete a minimum of

24 credit hours of approved prelicensing courses, with at least three of those 24 credit hours on ethics

Unless exempt, insurance producers must complete how many hours of approved continuing education courses during each two-year license period?

24 hours

what is the minimum number of outpatient visits a group health policy must provide each year for covered alcohol treatment services

30

Producers must report any criminal charge to the Commissioner within how many days of the charge?

30 days

The law requires that licensed producers advise the Insurance Department of a change in their residential or business address within how many days of such a change?

30 days

Eligible employees of a contributory or non contributory plan have how many days after the probationary period to sign up for their group insurance

31 day enrollment period

the commissioner of insurance is appointed by the governor for a term of how may years

4 years

you must deny reinstatement claims within how many days

45 days

an insurer can cancel a policy with providing written notice within at least how many days of effective date of cancellation

5 days

to be eligible for social security benefits an individual must be totally disabled for at least how many months

5 months

an insurer can cancel a health insurance policy by delivering written notice to the insured at least how many days before effective date of cancellation

59 days

how long until employees are 100% vested

6 years

A rollover from one IRA to another or from a qualified plan to an IRA must be accomplished within how many days if the owner is to avoid an income tax liability on the amount rolled over?

60 days

within how many days must a rollover IRA be completed to avoid paying taxes

60 days

Prior to the Affordable Care Act, according to HIPPA, a newly hired worker was not subject to a waiting period if she how many days between jobs with no health insurance

63 days

what is the minimum grace period that an individual accident and health insurance policy must include if the premiums are due weekly

7 days

how many days are there in the grace period of weekly, monthly, and annually periods

7, 10, 30

for a beneficiary to receive accidental death benefits, the death of insured must generally occur within how many days following the accident

90 days

All of the following are considered unfair claim practices EXCEPT

A. misrepresenting the amount of coverage payable under the policy B. insisting on investigating a claim based on an uncertain cause of loss C. attempting to settle a claim for less than the contract provides D. failing to act promptly on communications regarding claims

Which of the following could be paid an insurance commission or fee? A. Lenny, a retired insurance producer who no longer maintains a license but whose book of business generates policy renewals B. Patricia, an employee benefits attorney who refers a business client to a producer specializing in group insurance C. Both of these D. Neitherofthese

B

a producer must do which of the following when selling a new insurance policy

Send the insurer a statement, signed by the applicant, disclosing whether or not the new insurance will replace existing insurance.

Keogh

a qualified retirement plan specifically designed for self employed people and their employees.

what is the name of the fixed monthly fee paid by the HMO to the provider

capitation

By examining an insurer's records, the Insurance Commissioner assesses the company's

compliance with state laws

all of the following are essential health benefits EXCEPT

dental care

The Insurance Commissioner is responsible for all of the following duties EXCEPT

enacting insurance laws

a root canal is considered as what type of treatment

endodontics

the purpose of Pennsylvanias replacement regulations is to :

ensure that policyholders are given the information that they need to make informed decisions regarding such transactions

Licensed insurance companies are subject to examination by the Department of Insurance at least

every 5 years

how often must a health insurer cover costs associated with mammograms for a 60 year old woman

every year

who needs to sign the application

everyone but the beneficiary

in Pennsylvania , insurers must maintain all of their insurance advertisements on file for how many years

four years

which section of the application should contain a record of any injuries the applicant may have suffered

medical section

In the sale of life insurance, all references to policy dividends:

must include a statement that dividends are not guaranteed

what is not a characteristic of insurable risk

premeditated

if the insured cancels a policy, the premiums will be returned in what way

pro rata basis

All of the following are allowable activities for an individual who holds a temporary license EXCEPT

producing new business from existing clients

Prohibition against which of the following insurance practices extends to consumers as well as producers? A. TwistingB. RebatingC. Misrepresentation D. Defamation

rebating

To motivate a buyer to sign an application for insurance, a producer promises a gift of 50% of the commission. This is an example of

rebating

The Commissioner may deny, revoke, or suspend a producer license for any of the following EXCEPT

representing more than one insurance company

related costs associated with surgical expense policy do not include

room and board

another name for an entity plan is

stock redemption plan

The out of pocket limit is also known as

stop-loss limit

what parties must sign a key person insurance application

the CEO an officer from the company and the agent handling the application

All of the following people must be licensed to transact insurance business in Pennsylvania EXCEPT

the chief financial officer of an insurer who does not solicit or negotiate risks

In Pennsylvania, producer appointments are made by

the insurance company

executing the insurance laws of Pennsylvania is whose responsibility

the insurance department

a complaint record must be kept for at least

three years

The practice of using misrepresentation to induce any person to lapse, forfeit, surrender, exchange, or convert an insurance policy is also known as

twisting

which of the following types of life insurance riders is not based on term life insurance

waiver of premium


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