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Renewal & Commissions

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Renewal & Commissions Knowledge Quiz

Test your knowledge on Renewal & Commissions with this comprehensive quiz! Whether you're a broker, agent, or just someone interested in the world of insurance, this quiz is designed to enhance your understanding.

11 thought-provoking questions
Multiple choice and checkbox formats
Learn while you play!

11 Questions3 MinutesCreated by CalculatingAgent73

If a group is looking to renew to a plan that has both INN & OON benefits. Which type of plan(s) would you suggest?

PPO

EPO

With commissions, what does Manual Hold mean?

Displays the producer being levied or garnished

Commission analysts use this link to process manual deposits.

Provides the details of compensation.

It will supress all commission statements & payments.

How many numbers are in a PCIS #?

Producer issues handled by CSP's. Check all that apply:

Billing

Material Requests

Producer licensing

Negotiate commission percentages

Commission statements

Online access to 1099 form

Producer manual hold release

Renewal Mailings are sent to brokers and then to the BA of the group

40 days prior to renewal

60 days prior to renewal

90 days prior to renewal

What email address would be used for producer licensing and contracting?

[email protected]

A Broker of Record letter is a written request from a group appointing a producer/brokerage or requesting a change in producer/brokerage to service the account. All requests must: (check all that apply)

Must be in writing on company letterhead signed by the president, an officer of the company or other decision maker of the employer group.

Fax number for confirmation

Letter must be dated no more than 60 days in the past and cannot be future dated

Must be sent to commissions department

What is the TAT when a producer is requesting to change their commission % from 100% to split with another agent?

2-4 BD

4 BD

5-7 BD

2 BD

Broker is stating that their name or contact information this is listed in PCIS needs to be updated. Which email do they use?

[email protected]

An age 29 rider is available off cycle.

True

False

A copy of the renewal package can be emailed to both the group and the broker

True

False

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