P&CPennsylvaniamedium
Under 40 P.S. § 310.11, which of the following is a stated ground on which the PA Insurance Commissioner may suspend or revoke an insurance producer license?
AFailing to attend an optional NAIC continuing education webinar that is not part of the mandatory 24-hour CE requirement
Using fraudulent, coercive, or dishonest practices in the conduct of insurance business
CCharging a producer commission lower than a competitor's
DMaintaining a separate trust account for premium funds
Why this is the answer
40 P.S. § 310.11 lists statutory grounds for license suspension, revocation, or non-renewal, including using fraudulent, coercive, or dishonest practices. Failing to attend an optional webinar is not a violation; only the PA-mandated 24-hour CE biennial requirement (40 P.S. § 310.8) controls. Charging lower commissions is lawful price competition. Maintaining a segregated trust account is required by 40 P.S. § 310.96 — the opposite of misconduct.
Studying for the Pennsylvania Property & Casualty exam?
This question comes from our P&C bank. Take a free practice test — no signup.