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Maine Insurance - Questions Frequently Missed With Complete Solutions 2024
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Maine Insurance - Questions Frequently Missed With Complete Solutions 2024
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Maine Insurance - Questions FrequentlyMissed With Complete Solutions 2024
How much time does a person who was a party to a hearing have to appeal the order by the
Superintendent? Answer: 30 days
As a prerequisite to maintaining a license, licensees must complete a continuing education requirement
every: Answer: 2 years
If Jerry's insurance producer's license expires, how much time does he have to be reinstated without
retaking the Maine insurance licensing examination? Answer: 2 years
What is the maximum life insurance death benefit liability to the Maine Life and Health Guaranty
Association for an individual? Answer: 300,000
If an insurance producer, changes their business address, how much time does she have to inform the
Superintendent? Answer: 30 days
What is the maximum prison sentence for someone who continues to be involved in the insurance
business after their insurance producer license has been suspended? Answer: 6 months
How much time does an insurance licensee have to apply a received premium? Answer: 30 days
What is the minimum civil penalty for a corporation convicted of an insurance law violation? Answer:
2000
If an insurance producer, changes their business telephone number, how much time does she have to
inform the Superintendent? Answer: 30 days
, What is the maximum major medical insurance liability to the Maine Life and Health Guaranty
Association for an individual? Answer: 500,000
How much time does a person who was NOT a party to a hearing have to appeal the order by the
Superintendent? Answer: 40 days
What is the maximum civil penalty for a corporation convicted of an insurance law violation? Answer:
15,000
How much time does a producer who fails to pay their licensing fee have to pay before their license is
suspended? Answer: 90 days
How many days does an insurer have to inform the Superintendent of a producer's termination?
Answer: 30 days
If an insurance producer, changes their business telephone number, how much time does she have to
inform the Superintendent? Answer: 30 days
How much time does an insured normally have to file a notice of claim with their insurer after a health
occurrence? Answer: 20 days
If the Superintendent fails to act, how much time does someone have to file an appeal? Answer: 6
months
Within how many days after informing the Superintendent of a producer's termination does the insurer
have to inform the producer? Answer: 15 days
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