MONTANA LIFE INSURANCE BUNDLED EXAM 2024 WITH 100% CORRECT ANSWERS

Who would be most likely to apply to the commissioner for a nonresident license? Answer Individual licensed in another state and who resides in that state What does a viatical settlement involve? Answer The sale of a life insurance policy In Montana, the _________ reviews and approves the insu...

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...

What is considered the purpose of the Guaranty Association?Answer "Protect insureds from insolvent insurers" An insurance company that has qualified and received a Certificate of Authority from the Insurance Department to sell insurance in this state is called a(n):Answer "Authorized insurer...

Which of the following is true about most blue cross blue shield organizations? Answer - They are non profit organizations Which of the following is not included in hospitalization expense coverage Answer - Surgical fees A policy of adhesion may only be modified by who? Answer - The insurance ...

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 prote...