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Michigan Personal Lines Ins Exam Questions with correct Answers $11.99   Add to cart

Exam (elaborations)

Michigan Personal Lines Ins Exam Questions with correct Answers

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  • Course
  • Michigan Life and Health
  • Institution
  • Michigan Life And Health

Michigan Personal Lines Ins Exam Questions with correct Answers

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  • September 3, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Michigan Life and Health
  • Michigan Life and Health
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mereka
Michigan Personal Lines Ins Exam
Questions with correct Answers

How much is the fine for accepting a rebate? - Answer -100.00

How much is the fine for each violation of inducement? - Answer -100.00

What percentage does the insurer have to pay of claims not paid on a timely basis? -
Answer -12

How much time does an insurer have to satisfy a proof of loss? - Answer -30 days

How much time does an insurer have to pay a health claim? - Answer -45 days

How much time does a health insurer have to fix a claim? - Answer -45 days

How much is the fine for violation of health claims? - Answer -1-10,000

The Michigan Property and Casualty Guaranty Assc covers losses within what period of
time of receivership? - Answer -30 days

No coverage is provided after refunds of how much of unearned premium? - Answer -
500.00

The Michigan Property and Casualty Guaranty Assc will cover all claims in excess of
how much? - Answer -10.00

For a fire policy, the minimum earned premium is the greater of how much or a pro rata
premium? - Answer -25.00

How much notice does the insurer need to give the insuree before cancellation? -
Answer -30 days

How much notice needs to be given within the 55 days of policy issuance of the day of
mailing? - Answer -20 days

, Casualty insurance cancellation must be mailed in at least what time frame before
cancellation? - Answer -10 days

When can action be taken at the time of loss? - Answer -2 years

What is the maximum death benefit for a PIP? - Answer -5,000

What is the maximum percentage of income lost? - Answer -85

How much per day for loss of essential services? - Answer -20

What is the maximum PIP deductible? - Answer -300

What is the maximum PPI Property Protection Insurance pays per accident to another's
property? - Answer -1,000,000

Nonresident producers who, within how much time,cancelled their residence licensing ?
- Answer -90 days

Persons who have been licensed as an insurance producer within the
proceeding_____________ are exempt from prelicensing - Answer -12 months

Non resident producers who move to Michigan and apply within___________ to
become resident licensees - Answer -90 days

A counselor must keep a counseling agreement for_______ - Answer -24 months

A lapsed producer license maybe reinstated within _______ without retaking licensing
test - Answer -12 months

Complete prelicensing ed within_________of license app - Answer -12 months

Applicant minimum age to be licensed - Answer -18

Time it takes to for producer to respond to notification - Answer -30 days

Time for insurer to give notice of appt termination to producer - Answer -15 days

Time to inform director of appt termination - Answer -30 days

Director approves appointment - Answer -30 days

File a producer appointment - Answer -15 days

How long is a licensed revoked for twisting/Misrepresentation - Answer -1 year

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