Exam (elaborations)
Michigan Personal Lines Ins Exam Questions with correct Answers
- Course
- Institution
Michigan Personal Lines Ins Exam Questions with correct Answers
[Show more]
Content preview
Michigan Personal Lines Ins ExamQuestions with correct Answers
How much is the fine for accepting a rebate? - Answer -100.00
How much is the fine for each violation of inducement? - Answer -100.00
What percentage does the insurer have to pay of claims not paid on a timely basis? -
Answer -12
How much time does an insurer have to satisfy a proof of loss? - Answer -30 days
How much time does an insurer have to pay a health claim? - Answer -45 days
How much time does a health insurer have to fix a claim? - Answer -45 days
How much is the fine for violation of health claims? - Answer -1-10,000
The Michigan Property and Casualty Guaranty Assc covers losses within what period of
time of receivership? - Answer -30 days
No coverage is provided after refunds of how much of unearned premium? - Answer -
500.00
The Michigan Property and Casualty Guaranty Assc will cover all claims in excess of
how much? - Answer -10.00
For a fire policy, the minimum earned premium is the greater of how much or a pro rata
premium? - Answer -25.00
How much notice does the insurer need to give the insuree before cancellation? -
Answer -30 days
How much notice needs to be given within the 55 days of policy issuance of the day of
mailing? - Answer -20 days
, Casualty insurance cancellation must be mailed in at least what time frame before
cancellation? - Answer -10 days
When can action be taken at the time of loss? - Answer -2 years
What is the maximum death benefit for a PIP? - Answer -5,000
What is the maximum percentage of income lost? - Answer -85
How much per day for loss of essential services? - Answer -20
What is the maximum PIP deductible? - Answer -300
What is the maximum PPI Property Protection Insurance pays per accident to another's
property? - Answer -1,000,000
Nonresident producers who, within how much time,cancelled their residence licensing ?
- Answer -90 days
Persons who have been licensed as an insurance producer within the
proceeding_____________ are exempt from prelicensing - Answer -12 months
Non resident producers who move to Michigan and apply within___________ to
become resident licensees - Answer -90 days
A counselor must keep a counseling agreement for_______ - Answer -24 months
A lapsed producer license maybe reinstated within _______ without retaking licensing
test - Answer -12 months
Complete prelicensing ed within_________of license app - Answer -12 months
Applicant minimum age to be licensed - Answer -18
Time it takes to for producer to respond to notification - Answer -30 days
Time for insurer to give notice of appt termination to producer - Answer -15 days
Time to inform director of appt termination - Answer -30 days
Director approves appointment - Answer -30 days
File a producer appointment - Answer -15 days
How long is a licensed revoked for twisting/Misrepresentation - Answer -1 year
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mereka. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now