Montana Life and Health State Exam
Questions
Only a person with a limited lines credit license may sell which coverage? – answer Gap
Insurance
Which of the following provides information unique to the policy being offered? - answer
Policy summary
Medical expense policies must cover dependent children under the age of? - answer25
Which of the following statements about licensing nonresident Producers is FALSE? -
answera nonresident applicant must have been a resident of Montana for at least 1
year?
Q knows that insurance fraud has taken place. Q must notify the Montana Insurance
Commissioner - answerwithin 60 days
Health insurance must provide outpatient mental illness benefits for each of the
following service providers EXCEPT? - answerclergymen
An insured is not entitled to interest on a past-due claim if the amount of the claim is
less than? - answer$5
An Insurer's rates are so low that the insurer may not be able to meet expenses and pay
claims. The rates? - answermay be rejected by the Insurance Commissioner because
the rates are inadequate.
Montana requires how many hours of hospital coverage for a cesarean birth? -
answer96 hours.
If a Limited Lines Credit policy is prematurely terminated. The refund is given to the: -
answerDebtor.
A temporary producer license is valid for: - answer90 days.
Who reviews and approves the insurance continuing education courses in the state of
Montana? - answerthe Insurance Commissioner.
At least once every 5 year, the Insurance Commissioner must inspect the records of: -
answereach Insurer authorized to do business in Montana.
, Individuals authorized to negotiate insurance transactions on behalf of insurers are
referred to in Montana as: - answerproducers
Medical Expense policies must provide "well-child" care without any deductible through
age: - answer7
A credit life policy may insure against each of the following risks except -
answerbankruptcy
The maximum rate of interest that an insurer may charge on a cash value loan is: -
answer8%
While licensed as a Montana Consultant, Cora is prohibited from? - answercollecting a
commission
The Freedom of Choice Act allows an insured to pick their doctor in which insurance
plan? - answerstock of mutual indemnity plan.
Who pays claims if an Insurer is insolvent? - answerState Guaranty Fund
A Montana producers acts illegally if the Producer: - answerdevelops new insurance
applications and policy forms
The Free-Look provision for Medicare Supplement policies is: - answer30 days
The length of a producer's license period is determined by: - answerthe Insurance
Commissioner.
Molly borrows $3000 for business purposes from her local bank. The bank may legally: -
answerrequire Credit Life Insurance
Mary asks her Insurer what information the Insurer has regarding her claim history. The
Insurer must respond within: - answer30 days
A licensed administrator must keep records for at least: - answer5 years
If the Commissioner wants to revoke a producer's license, how much notice must be
given prior to the hearing? - answer10 days
An Inducement to purchase an insurance policy is? - answerRebating
Under a Credit Disability Insurance policy, the beneficiary is the: - answerCreditor
The purpose of The State Guaranty Fund is to protect: - answerInsureds
Questions
Only a person with a limited lines credit license may sell which coverage? – answer Gap
Insurance
Which of the following provides information unique to the policy being offered? - answer
Policy summary
Medical expense policies must cover dependent children under the age of? - answer25
Which of the following statements about licensing nonresident Producers is FALSE? -
answera nonresident applicant must have been a resident of Montana for at least 1
year?
Q knows that insurance fraud has taken place. Q must notify the Montana Insurance
Commissioner - answerwithin 60 days
Health insurance must provide outpatient mental illness benefits for each of the
following service providers EXCEPT? - answerclergymen
An insured is not entitled to interest on a past-due claim if the amount of the claim is
less than? - answer$5
An Insurer's rates are so low that the insurer may not be able to meet expenses and pay
claims. The rates? - answermay be rejected by the Insurance Commissioner because
the rates are inadequate.
Montana requires how many hours of hospital coverage for a cesarean birth? -
answer96 hours.
If a Limited Lines Credit policy is prematurely terminated. The refund is given to the: -
answerDebtor.
A temporary producer license is valid for: - answer90 days.
Who reviews and approves the insurance continuing education courses in the state of
Montana? - answerthe Insurance Commissioner.
At least once every 5 year, the Insurance Commissioner must inspect the records of: -
answereach Insurer authorized to do business in Montana.
, Individuals authorized to negotiate insurance transactions on behalf of insurers are
referred to in Montana as: - answerproducers
Medical Expense policies must provide "well-child" care without any deductible through
age: - answer7
A credit life policy may insure against each of the following risks except -
answerbankruptcy
The maximum rate of interest that an insurer may charge on a cash value loan is: -
answer8%
While licensed as a Montana Consultant, Cora is prohibited from? - answercollecting a
commission
The Freedom of Choice Act allows an insured to pick their doctor in which insurance
plan? - answerstock of mutual indemnity plan.
Who pays claims if an Insurer is insolvent? - answerState Guaranty Fund
A Montana producers acts illegally if the Producer: - answerdevelops new insurance
applications and policy forms
The Free-Look provision for Medicare Supplement policies is: - answer30 days
The length of a producer's license period is determined by: - answerthe Insurance
Commissioner.
Molly borrows $3000 for business purposes from her local bank. The bank may legally: -
answerrequire Credit Life Insurance
Mary asks her Insurer what information the Insurer has regarding her claim history. The
Insurer must respond within: - answer30 days
A licensed administrator must keep records for at least: - answer5 years
If the Commissioner wants to revoke a producer's license, how much notice must be
given prior to the hearing? - answer10 days
An Inducement to purchase an insurance policy is? - answerRebating
Under a Credit Disability Insurance policy, the beneficiary is the: - answerCreditor
The purpose of The State Guaranty Fund is to protect: - answerInsureds
