Renewal & Commissions
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!
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 #?
5
6
7
4
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?
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?
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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