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XCEL Chapter 11 Montana laws and rules with 100- correct answers.
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XCEL Chapter 11 Montana laws and rules with 100- correct answers.
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XCEL Chapter 11 Montana lawsand rules with 100% correct
answers
In order to negotiate a viatical settlement, which licensure is
required?
Life producer
How long is an appointment letter valid?
Until appointment is terminated
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Under which statute gives the Insurance Commissioner power to
regulate insurance transactions?
Title 33 of Montana law
John the producer splits the commission from a sale with another
producer. This commission split must be paid from the
office account
, Credit Life insurance must be sold as
term life
alien insurers are domiciled in another
country
who would most likely apply to the commissioner for a nonresident
license?
Individual licensed in another state and who resides in that state.
Giving an applicant something of value not stated in the insurance
contract as an inducement to purchase a policy is known as
rebating
the Commissioner must inspect the records of each insurer
authorized to do business in Montana at least once every
5 years
Any license revoked by the Commissioner a ____ time is revoked for
life
second
A(n)______ may appraise an insurance policy
consultant
An insurer must pay ______ interest on past-due claims
10%
In Montana, what is the maximum amount of Credit Life Insurance
that may be sold?
Equal to the balance owed on the debt
Pam the insurance consultant has a client to which she gave advice
for a fee. After consulting, she cannot sell insurance to this person
for at least _______ month(s)
12
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
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