MICHIGAN LAWS AND RULES PERTINENT TO
INSURANCE EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS GRADED A++
The branch of dentistry which deals with the replacement of missing parts is called
Prosthodontics
Under which circumstance may a minor receive proceed from a death benefit?
The minor must have an appointed guardian
A producer may give an insurance applicant an article of merchandise having an invoice value of _____
or less
$5
All of the following activities require an insurance producer's license EXCPET
Underwriting
The act of using misrepresentation to insured person to terminate an existing policy and purchase a
new policy is referred to as
twisting
Which of the following is included in the entire contract according to the entire contract provision?
Application
, Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance
policy?
Submit to the replacing insurer a list of the policies to be replaced
An insurance producer license is required for which of the following?
A business entity policing insurance
A producer's license is required for all of these activities EXCPET
Underwriting insurance
A life insurance application may be backdated to
save on premiums
Before operating under an assumed name, a producer MUST notify the
Commissioner
Tim purchases an insurance policy from a producer. The producer must present to Tim a notice
detailing privacy policies and practices. After this initial notice, Time must be provided another notice
annually
Producer commissions may NOT be paid to
licensed producers not appointed by an insurer
A life insurance applicant is Michigan may backdate the application for up to ___ months.
6
INSURANCE EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS GRADED A++
The branch of dentistry which deals with the replacement of missing parts is called
Prosthodontics
Under which circumstance may a minor receive proceed from a death benefit?
The minor must have an appointed guardian
A producer may give an insurance applicant an article of merchandise having an invoice value of _____
or less
$5
All of the following activities require an insurance producer's license EXCPET
Underwriting
The act of using misrepresentation to insured person to terminate an existing policy and purchase a
new policy is referred to as
twisting
Which of the following is included in the entire contract according to the entire contract provision?
Application
, Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance
policy?
Submit to the replacing insurer a list of the policies to be replaced
An insurance producer license is required for which of the following?
A business entity policing insurance
A producer's license is required for all of these activities EXCPET
Underwriting insurance
A life insurance application may be backdated to
save on premiums
Before operating under an assumed name, a producer MUST notify the
Commissioner
Tim purchases an insurance policy from a producer. The producer must present to Tim a notice
detailing privacy policies and practices. After this initial notice, Time must be provided another notice
annually
Producer commissions may NOT be paid to
licensed producers not appointed by an insurer
A life insurance applicant is Michigan may backdate the application for up to ___ months.
6
