Montana insurance - Study guides, Class notes & Summaries

Montana Insurance Laws + Rules Exam Study Questions Already 100% Answered

Rates must be filed with the commissioner of insurance ______ days before a form is used Answer - 60 days The commissioner must examine an insurer at least every ____ years? Answer - 5 years Guaranty Association Answer - A state mandated association of all insurance companies designed to protect consumers from impaired or insolvent companies. All insurers that provide direct life and disability insurance policies or annuity contracts are required to be members. Minimum age to obtain a p...

MT State Property and Casualty Exam Questions with Verified Answers A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? stamping fee An inducement to purchase an insurance policy is: Select one: ation ing rebating A nonresident producer licensed in Montana may sell: Select one: insurance that is otherwise lawfully sold in the state of Montana. those types of insurance that the producer could have sol...

A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? Answer - stamping fee An inducement to purchase an insurance policy is: Select one: ation ing Answer - rebating A nonresident producer licensed in Montana may sell: Select one: insurance that is otherwise lawfully sold in the state of Montana. those types of insurance that the producer could have sold in the producer's state of residence. Answer - only th...

A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? - Answer- stamping fee An inducement to purchase an insurance policy is: Select one: ation ing - Answer- rebating A nonresident producer licensed in Montana may sell: Select one: insurance that is otherwise lawfully sold in the state of Montana. those types of insurance that the producer could have sold in the producer's state of residence. - Answer- only...

MONTANA PROPERTY & CASUALTY EXAM 2024/2025 What is insurance? - Precise Answer Transfer of risk to protect from financial loss. Types of Risk - Precise Answer Pure and Speculative Pure Risk - Precise Answer Insurable risk. There is only loss. Speculative Risk - Precise Answer Not insurable. Could loss or gain financially. EX: gambling/stock market. Could win or lose money. Hazard - Precise Answer Conditions that increase the probability for loss. Types of Hazards - Precise An...

MT State Property and Casualty Exam Questions with 100% Correct Answers A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? - Answer- stamping fee An inducement to purchase an insurance policy is: Select one: ation ing - Answer- rebating A nonresident producer licensed in Montana may sell: Select one: insurance that is otherwise lawfully sold in the state of Montana. those types of insurance that the produce...

MT State Property and Casualty Exam Questions with 100% Correct Answers A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? - Answer- stamping fee An inducement to purchase an insurance policy is: Select one: ation ing - Answer- rebating A nonresident producer licensed in Montana may sell: Select one: insurance that is otherwise lawfully sold in the state of Montana. those types of insurance that the produce...

Montana Insurance Laws + Rules Exam Study Questions Already 100% Answered

In order to negotiate a viatical settlement, which license is required? Life producer How long is an appointment letter valid? Until appointment is terminated Under which statute gives the Insurance Commissioner power to regulate insurance transactions? Title 33 of Montana law John the producer splits the commission from a sale with another producer. This commission split must be paid from the office account Credit Life insurance must be sold as term life alien insu...