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Michigan Personal Lines Ins Exam Questions with correct Answers
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Michigan Personal Lines Ins Exam Questions with correct Answers
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Michigan Personal Lines Ins ExamQuestions 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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