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PA Notary Public Questions and Answers Already Passed Minimum age to become a Notary in PA 18 years of age What is maximum amount of time to record bond, oath of office and commission at the Recorder of Deeds in the county which the notary maintains an office? 45 Days Under RULONA, what amount must surety bond from insurance company licensed in PA in? $10,000 RULONA requires a surety company provide the Department of State how many days notice before canceling the bond? 30 Days ...

Uses of Life Insurance - -Insured pays premium to company and in return, company assumes risk of that person dying prematurely -premium (small certain loss) is exchanged for a large uncertain loss -spreading risk of premature death among a large group Life insurance has value like property: -valuable part of individuals estate, providing immediate cash to pay debts and financial security to insured's survivors -cash value of life insurance policy can be used as collateral to secure a loa...

The word "ad valorem" best means: (a) The addition of value (b) An assessment (c) According to value (d) Worth is assumed (c) According to value Ad valorem property taxes are imposed on property owners by local government entities based on the property's assessed value. A body of federal and state laws designed to prohibit and regulate deceptive advertising and sales practices are known as _________ laws. (a) Consumer protection (b) Maritime (c) Constitutional (d) Case (a) Consume...

PSI Life, Accident, Health Practice Exam - Questions and Answers Which of the following is TRUE of the conversion privileges for the insured in group life insurance? 1 The coverage amount without proof of insurability can be changed. 2 The option to name a new beneficiary can be exercised by the owner. 3 The owner can change the ownership of the policy but not the name of a beneficiary. 4 The policy can be transferred into an endowment or liquidated for its proceeds by the owner. ALL of the fo...

PSI - LIFE, ACCIDENT, AND HEALTH – FULL Exam Questions With Verified Answers What happens under a misstatement of age clause on a disability policy? 1. The policy would be terminated and all premiums would be returned to the policy owner. 2. The policy would be terminated and all premiums would be retained by the insurance company. 3. All amounts payable under this policy shall be what the premium originally would have purchased and been paid at the correct age. 4. Prior to any ben...

PSI: Life, Accident, & Health Exam Questions & Answers (Complete Solutions)-What happens under a misstatement of age clause on a disability policy? 1. The policy would be terminated and all premiums would be returned to the policy owner. 2. The policy would be terminated and all premiums would be retained by the insurance company. 3. All amounts payable under this policy shall be what the premium originally would have purchased and been paid at the correct age. 4. Prior to any benef...

MINNESOTA LAWS, RULES, AND REGULATIONS PERTINENT TO HEALTH INSURANCE ONLY ALREADY PASSED Coverage of Disabled Children Proof of the incapacity and dependency must be furnished to the insurer, HMO, or organization within ____ _______ of the child reaching the policy's limiting age and annually TWO YEARS after the limiting age was attained. 31 days Coverage of Newborns and Adopted Children All individual and group health insurance and health maintenance contracts must cover a new...

Other structures are excluded from coverage under the HO-3 when they are: Smaller than 100 square feet or larger than 1,000 square feet Smaller than 100 square feet or larger than 500 square feet Used for storage purposes Used for business purposes - CORRECT ANSWER Used for business purposes is correct. EXPLANATION: When the other structures are used for business purposes they are not covered under the homeowner form. This structure and its contents could be covered under a comme...

H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - answer-C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the...

Personal Lines - Florida Exam Questions And Answers 5 Qualifications for a General Lines License - ANS 1. 18 years old 2. resident of FL or place of business in FL 3. 200-hour course or 1 yr experience in all lines 4. cannot be for writing controlled business 5. Exam waived for CPCU designation or college degree with 15 hours in insurance controlled business - ANS more than 50% of income from businesses applicant is involved in, such as family business Department of Fi...