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Montana Insurance Laws + Rules Exam Study Questions Already 100% Answered
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Montana Insurance Laws + Rules Exam Study Questions Already 100% Answered
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Montana Insurance Laws + Rules Exam StudyQuestions Already 100% Answered
Time the insured is considering replacing her existing life policy with a new one.
The replacing insurer is responsible for providing to her which of the following? -
✔✔A copy of all sales materials used by the replacing producer plus a
replacement notice containing the name of the policy to be replaced
In Montana, what is the maximum amount of credit life insurance that may be
sold? - ✔✔Equal to balance owed on debt
What is the purpose of the Viatical Settlement Act? - ✔✔Assist policy owners
who would like to sell their life insurance policies prior to death.
Cash value loans may charge a maximum rate of interest of - ✔✔8%
In Montana, which of the following is considered a life policy which provides a
death benefit of $2,000 or less and premiums are payable at least on a monthly
basis. - ✔✔Industrial Life
In Montana, who are individuals authorized to negotiate transactions on behalf of
insurers. - ✔✔Producers
In order to negotiate a viatical settlement, which licensure is required? -
✔✔Life producer
, Which of the following circumstances can a producer act as a policy owner
guardian? - ✔✔Policyholder is an immediate family member
The guaranty fund receives its funding from assessments on - ✔✔Admitted
insurance companies
Which of the following must a Buyer's Guide and Policy Summary be provided
with? - ✔✔Individual whole and term life policus
In Montana, what is the biennial continuing education requirement? - ✔✔24
hrs
A dependent child under a family health policy is sentenced to a state correctional
institution for children. Any medical claims for this child will be covered by -
✔✔The parent's family and health policy
A producer may legally share commissions only with another producer who -
✔✔Has the same license
John, the insured, is owed money for a past-due claim. He is entitled to interest if
the amount is ____ or more. - ✔✔$5
Who is the beneficiary under a credit disability insurance policy? - ✔✔Creditor
Who is the guaranty fund designed to protect? - ✔✔Residents
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