MT State Property and Casualty Exam Questions | 160 Questions with 100% Correct Answers | Updated & Verified | 37 Pages

A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? - ANS - stamping fee An inducement to purchase an insurance policy is: Select one: ation ing - ANS - 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. - ANS - only those types of insurance that the producer could have sold in the producer's state of residence A producer must normally keep records for 3 years. A surplus lines producer must keep records for a minimum of: Select one: a.1 year b.2 years c.4 years d.5 years - ANS - 5 years