Life Insurance Montana
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Instant Download Pdf
1. Only a person with a limited lines credit license may sell which coverage? -
Correct Answer: Gap Insurance
2. Which of the following provides information unique to the policy being
offered? - Correct Answer: Policy summary
3. Medical expense policies must cover dependent children under the age of?
- Correct Answer: 25
4. Which of the following statements about licensing nonresident Producers is
FALSE? - Correct Answer: a nonresident applicant must have been a
resident of Montana for at least 1 year?
5. Q knows that insurance fraud has taken place. Q must notify the Montana
Insurance Commissioner - Correct Answer: within 60 days
6. Health insurance must provide outpatient mental illness benefits for each of
the following service providers EXCEPT? - Correct Answer: clergymen
,7. An insured is not entitled to interest on a past-due claim if the amount of
the claim is less than? - Correct Answer: $5
8. An Insurer's rates are so low that the insurer may not be able to meet
expenses and pay claims. The rates? - Correct Answer: may be rejected
by the Insurance Commissioner because the rates are inadequate.
9. Montana requires how many hours of hospital coverage for a cesarean
birth? - Correct Answer: 96 hours.
10.If a Limited Lines Credit policy is prematurely terminated. The refund is
given to the: - Correct Answer: Debtor.
11.A temporary producer license is valid for: - Correct Answer: 90 days.
12.Who reviews and approves the insurance continuing education courses in
the state of Montana? - Correct Answer: the Insurance Commissioner.
13.At least once every 5 year, the Insurance Commissioner must inspect the
records of: - Correct Answer: each Insurer authorized to do business in
Montana.
14.Individuals authorized to negotiate insurance transactions on behalf of
insurers are referred to in Montana as: - Correct Answer: producers
,15.Medical Expense policies must provide "well-child" care without any
deductible through age: - Correct Answer: 7
16.A credit life policy may insure against each of the following risks except -
Correct Answer: bankruptcy
17.The maximum rate of interest that an insurer may charge on a cash value
loan is: - Correct Answer: 8%
18.While licensed as a Montana Consultant, Cora is prohibited from? -
Correct Answer: collecting a commission
19.The Freedom of Choice Act allows an insured to pick their doctor in which
insurance plan? - Correct Answer: stock of mutual indemnity plan.
20.Who pays claims if an Insurer is insolvent? - Correct Answer: State
Guaranty Fund
21.A Montana producers acts illegally if the Producer: - Correct Answer:
develops new insurance applications and policy forms
22.The Free-Look provision for Medicare Supplement policies is: - Correct
Answer: 30 days
, 23.The length of a producer's license period is determined by: - Correct
Answer: the Insurance Commissioner.
24.Molly borrows $3000 for business purposes from her local bank. The bank
may legally: - Correct Answer: require Credit Life Insurance
25.Mary asks her Insurer what information the Insurer has regarding her claim
history. The Insurer must respond within: - Correct Answer: 30 days
26.A licensed administrator must keep records for at least: - Correct
Answer: 5 years
27.If the Commissioner wants to revoke a producer's license, how much notice
must be given prior to the hearing? - Correct Answer: 10 days
28.An Inducement to purchase an insurance policy is? - Correct Answer:
Rebating
29.Under a Credit Disability Insurance policy, the beneficiary is the: -
Correct Answer: Creditor
30.The purpose of The State Guaranty Fund is to protect: - Correct Answer:
Insureds
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Instant Download Pdf
1. Only a person with a limited lines credit license may sell which coverage? -
Correct Answer: Gap Insurance
2. Which of the following provides information unique to the policy being
offered? - Correct Answer: Policy summary
3. Medical expense policies must cover dependent children under the age of?
- Correct Answer: 25
4. Which of the following statements about licensing nonresident Producers is
FALSE? - Correct Answer: a nonresident applicant must have been a
resident of Montana for at least 1 year?
5. Q knows that insurance fraud has taken place. Q must notify the Montana
Insurance Commissioner - Correct Answer: within 60 days
6. Health insurance must provide outpatient mental illness benefits for each of
the following service providers EXCEPT? - Correct Answer: clergymen
,7. An insured is not entitled to interest on a past-due claim if the amount of
the claim is less than? - Correct Answer: $5
8. An Insurer's rates are so low that the insurer may not be able to meet
expenses and pay claims. The rates? - Correct Answer: may be rejected
by the Insurance Commissioner because the rates are inadequate.
9. Montana requires how many hours of hospital coverage for a cesarean
birth? - Correct Answer: 96 hours.
10.If a Limited Lines Credit policy is prematurely terminated. The refund is
given to the: - Correct Answer: Debtor.
11.A temporary producer license is valid for: - Correct Answer: 90 days.
12.Who reviews and approves the insurance continuing education courses in
the state of Montana? - Correct Answer: the Insurance Commissioner.
13.At least once every 5 year, the Insurance Commissioner must inspect the
records of: - Correct Answer: each Insurer authorized to do business in
Montana.
14.Individuals authorized to negotiate insurance transactions on behalf of
insurers are referred to in Montana as: - Correct Answer: producers
,15.Medical Expense policies must provide "well-child" care without any
deductible through age: - Correct Answer: 7
16.A credit life policy may insure against each of the following risks except -
Correct Answer: bankruptcy
17.The maximum rate of interest that an insurer may charge on a cash value
loan is: - Correct Answer: 8%
18.While licensed as a Montana Consultant, Cora is prohibited from? -
Correct Answer: collecting a commission
19.The Freedom of Choice Act allows an insured to pick their doctor in which
insurance plan? - Correct Answer: stock of mutual indemnity plan.
20.Who pays claims if an Insurer is insolvent? - Correct Answer: State
Guaranty Fund
21.A Montana producers acts illegally if the Producer: - Correct Answer:
develops new insurance applications and policy forms
22.The Free-Look provision for Medicare Supplement policies is: - Correct
Answer: 30 days
, 23.The length of a producer's license period is determined by: - Correct
Answer: the Insurance Commissioner.
24.Molly borrows $3000 for business purposes from her local bank. The bank
may legally: - Correct Answer: require Credit Life Insurance
25.Mary asks her Insurer what information the Insurer has regarding her claim
history. The Insurer must respond within: - Correct Answer: 30 days
26.A licensed administrator must keep records for at least: - Correct
Answer: 5 years
27.If the Commissioner wants to revoke a producer's license, how much notice
must be given prior to the hearing? - Correct Answer: 10 days
28.An Inducement to purchase an insurance policy is? - Correct Answer:
Rebating
29.Under a Credit Disability Insurance policy, the beneficiary is the: -
Correct Answer: Creditor
30.The purpose of The State Guaranty Fund is to protect: - Correct Answer:
Insureds
