Pennsylvania life and health practice exam

1. Under Pennsylvania's replacement regulation, the owner of a replacement policy may return it for a full refund within:

1. 10 days from the date of delivery
2. 30 days from the date of delivery
3. 45 days from the date of delivery
4. 20 days from the date of delivery

2. In Pennsylvania, a replacing insurer must notify the existing insurer within:

1. 5 working days of receiving the application or issuing the policy, whichever is sooner
2. 10 working days
3. 24 hours
4. 30 days

3. Pennsylvania replacing insurers must keep replacement records for at least:

1. 10 years
2. 3 years, or until the next regular examination, whichever is earlier
3. 1 year
4. 5 years

1. A Pennsylvania licensee must report an administrative action taken in another jurisdiction within:

1. 60 days
2. 10 days
3. 30 days of the final disposition
4. At the next renewal

2. For each violation of the producer licensing law, the Pennsylvania Insurance Commissioner may impose a civil penalty of up to:

1. $5,000
2. $25,000
3. $1,000
4. $10,000

1. The Pennsylvania Life and Health Insurance Guaranty Association covers life insurance death benefits up to:

1. $500,000
2. $250,000
3. $100,000
4. $300,000

2. The Pennsylvania guaranty association covers individual annuities up to:

1. $300,000
2. $500,000
3. $250,000 in present value
4. $100,000

3. The Pennsylvania guaranty association covers disability income insurance up to:

1. $100,000
2. $500,000
3. $250,000
4. $300,000