Hawaii Insurance Adjuster License Practice Exam

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Prepare for the Hawaii Insurance Adjuster Test with flashcards and multiple-choice questions. Each question includes hints and explanations. Equip yourself with the knowledge you need to succeed!

Practice this question and more.

Which statement is true about penalties for insurance law violations in Hawaii?

Penalties can be assessed only once.
Penalties can accumulate daily.
Penalties are fixed and cannot be changed.
Penalties can be applied only to individuals, not insurers.

The correct answer is: Penalties can accumulate daily.

In Hawaii, penalties for insurance law violations can indeed accumulate daily. This means that if a violation continues over a period of time, the penalties can increase based on each day that the violation remains unaddressed. This provision serves as a deterrent against ongoing non-compliance and incentivizes insurers and individuals to correct violations promptly to avoid escalating penalties. In the context of the other options, it's important to note that penalties are not limited to a one-time assessment, allowing for daily accumulation; they are also not fixed, as certain circumstances can lead to changes in how penalties are structured. Furthermore, penalties can be applied to both individuals and insurers, ensuring that all parties are held accountable for violations of insurance law.