Exam (elaborations)
Property & Casualty Michigan Practice Exam Questions and Answers
- Course
- Institution
Property & Casualty Michigan Practice Exam Questions and Answers
[Show more]
Content preview
Property & Casualty Michigan PracticeExam Questions and Answers
4 - Answer -The Governer appoints a Commissioner of Insurance every how many
years?
$10,000 and possible license revocation. - Answer -Maximum fine for knowingly
violating cease and desist order is
180 - Answer -Temporary Licenses are issued for how many days?
30 - Answer -An applicant who has been denied an insurance license has how many
days to protest the denial?
5 - Answer -The commissioner must examine the books, records, etc. of an insurance
company at least once every how many years?
30 - Answer -Rates must be filed with the commissioner within how many days of use?
24 - Answer -Property and casualty must compete how many hours of continuing
education every two years
30 - Answer -If a producer undergoes criminal prosecution, he must notify the
commissioner within how many days?
60 - Answer -At least how many days can a building be unoccupied before the insurer
can deny coverage?
20 - Answer -In a worker's comp policy, Michigan law requires that the Bureau of
Worker's Disability Compensation be notified in advance of the date of cancellation of a
policy how many days in advance?
20K/40K/10K - Answer -What are the required limits of liability for auto liability policies in
Michigan?
20 - Answer -How many days does an insurer have to notify the insured in writing of
cancellation of a motor vehicle policy?
, 5 - Answer -How many companies determine the MIchigan PLacement facility rates?
55 - Answer -Cancellation of an auto policy is not subject to appeal for how many of the
first number of days?
Express consent - Answer -What is it called when there is a legal doctrine stating that
an agent has authority via written or oral consent by the principal?
Part A - Liability - Answer -If you hit a PARKED CAR, what part of an insurance policy
will pay for the damage to the PARKED CAR?
Liability - Answer -What part of a PAP is PART A?
Medical Payments - Answer -What part of a PAP is PART B?
Uninsured Motorist Coverage - Answer -What part of a PAP is PART C?
Coverage to YOUR AUTO! - Answer -What part of a PAP is PART D?
Personal Auto Policy - Answer -What does PAP stand for?
Assigned Risk Plans - Answer -State-sponsored plans for high risk drivers, also called
"Automobile Insurance Plans"
Part A (Liability) - Answer -Supplementary Payments are included under what part of a
PAP?
$250 - Answer -Up to how much is covered under supplementary payments for BAIL
BONDS?
The Other Insurance Formula - Answer -(Primary liability limits / total limits of all
policies) x loss =
$250 - Answer -Up to how much can you earn per day in LOSS OF EARNINGS?
3 Years - Answer -How long does part B cover medical and funeral expenses under a
PAP?
Part A - Liability - Answer -Under what part of a PAP would the passengers in the
OTHER CAR involved in a collision be coverd?
Subrogation - Answer -The transfer to the insurance company of the insured's right to
collect damages from another party.
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)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now