Exam (elaborations)
PNC License Questions and Answers 2024
- Course
- Institution
Exam of 4 pages for the course PNC 100 at PNC 100 (PNC License)
[Show more]
Content preview
PNC LicenseIs an agent allowed to misrepresent the terms a policy? - answer no
what happens if an agent causes any misleading misrepresentation? - answer the
commissioner may suspend their license for a maximum of 3 years, as well a fine not
exceeding 25,000.
consequences of unlawful transactions, violation of the requirement for a certificate of
authority? - answer imprisonment max 1 year, fine 100,000
Discriminatory consequences - answer unfair practices can receive fines, if
discrimination occurs.
when can insurer report to fraudulent claims? where? - answer60 days after discover,
claim can be turned into fraudulent claims bureau.
T or F? The cost to operate the fraudulent claim bureau us borne by all california
taxpayers? - answer False.
Perjury? - answerclaim form that is fraudulent
insurer insolvency - answerthe company is in a position financially that they cannot
meet obligations to policyholders because of insufficient policy reserves, capital and
surplus requirements.
how does the department of insurance regulate all insurers doing business in this state?
How does it provide protection against the insolvency of an insurer? - answerreports
and regulations of investments, annual statements, examination of insurers,
rehabilitation and liquidation.
Agents may promote the insurers affiliation with the California insurance guaranty
association to enhance the insurers stability? - answerFalse
which insurers in California may be a member of the California insurance guaranty
association? - answeronly insurers that were admitted.
why were mechanism provided to pay claims to member insurers? - answerthe
California insurance guaranty association designed mechanisms to pay claims as a
result of insolvency of member insurers.
Boycott, coercion or intimidation? - answerunlawful, any action resulting in an
unreasonable restraint of or monopoly in the business of insurance.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now