hawaii insurance
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