MAINE INSURANCE - QUESTIONS FREQUENTLY MISSED
How much time does a person who was a party to a hearing have to appeal the order by the
superintendent? - answer30 days
As a prerequisite to maintaining a license, licensees must complete a continuing education
requirement every: - answer2 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? - answer2 years
What is the maximum life insurance death benefit liability to the maine life and health guaranty
association for an individual? - answer300,000
If an insurance producer, changes their business address, how much time does she have to
inform the superintendent? - answer30 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? - answer6
months
How much time does an insurance licensee have to apply a received premium? - answer30 days
What is the minimum civil penalty for a corporation convicted of an insurance law violation? -
answer2000
If an insurance producer, changes their business telephone number, how much time does she
have to inform the superintendent? - answer30 days
What is the maximum major medical insurance liability to the maine life and health guaranty
association for an individual? - answer500,000
How much time does a person who was not a party to a hearing have to appeal the order by
the superintendent? - answer40 days
What is the maximum civil penalty for a corporation convicted of an insurance law violation? -
answer15,000
How much time does a producer who fails to pay their licensing fee have to pay before their
license is suspended? - answer90 days
How many days does an insurer have to inform the superintendent of a producer's
termination? - answer30 days
, If an insurance producer, changes their business telephone number, how much time does she
have to inform the superintendent? - answer30 days
How much time does an insured normally have to file a notice of claim with their insurer after a
health occurrence? - answer20 days
If the superintendent fails to act, how much time does someone have to file an appeal? -
answer6 months
Within how many days after informing the superintendent of a producer's termination does the
insurer have to inform the producer? - answer15 days
The superintendent may not issue a license to a person whose license has been revoked for at
least: - answer1 year
What is the maximum annuity benefit liability to the maine life and health guaranty association
for an individual? - answer250k
A producer or business entity must keep a complete record of all transactions completed under
the license at the place of business for at least: - answer3 years
All of the following are contained in the policy summary, except: - answerbeneficiary
designations
After a settlement contract is executed by all parties, the viator has the right to rescind the
contract before: - answer30 days
How much time does someone have to return a new life insurance policy for a full refund? -
answer10 days
What is the net payment index for a life insurance policy? - answerthe cost of the policy based
on amount of premium and frequency of payment
After a settlement contract payment is received, the viator has the right to rescind the contract
before - answer15 days
What is the surrender cost index for a life insurance policy? - answerthe cash value of a life
insurance policy at a given time
How many days does someone have to send funds to a viator after a beneficiary has been
changed due to a settlement contract? - answer3 business days
How much time does a person who was a party to a hearing have to appeal the order by the
superintendent? - answer30 days
As a prerequisite to maintaining a license, licensees must complete a continuing education
requirement every: - answer2 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? - answer2 years
What is the maximum life insurance death benefit liability to the maine life and health guaranty
association for an individual? - answer300,000
If an insurance producer, changes their business address, how much time does she have to
inform the superintendent? - answer30 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? - answer6
months
How much time does an insurance licensee have to apply a received premium? - answer30 days
What is the minimum civil penalty for a corporation convicted of an insurance law violation? -
answer2000
If an insurance producer, changes their business telephone number, how much time does she
have to inform the superintendent? - answer30 days
What is the maximum major medical insurance liability to the maine life and health guaranty
association for an individual? - answer500,000
How much time does a person who was not a party to a hearing have to appeal the order by
the superintendent? - answer40 days
What is the maximum civil penalty for a corporation convicted of an insurance law violation? -
answer15,000
How much time does a producer who fails to pay their licensing fee have to pay before their
license is suspended? - answer90 days
How many days does an insurer have to inform the superintendent of a producer's
termination? - answer30 days
, If an insurance producer, changes their business telephone number, how much time does she
have to inform the superintendent? - answer30 days
How much time does an insured normally have to file a notice of claim with their insurer after a
health occurrence? - answer20 days
If the superintendent fails to act, how much time does someone have to file an appeal? -
answer6 months
Within how many days after informing the superintendent of a producer's termination does the
insurer have to inform the producer? - answer15 days
The superintendent may not issue a license to a person whose license has been revoked for at
least: - answer1 year
What is the maximum annuity benefit liability to the maine life and health guaranty association
for an individual? - answer250k
A producer or business entity must keep a complete record of all transactions completed under
the license at the place of business for at least: - answer3 years
All of the following are contained in the policy summary, except: - answerbeneficiary
designations
After a settlement contract is executed by all parties, the viator has the right to rescind the
contract before: - answer30 days
How much time does someone have to return a new life insurance policy for a full refund? -
answer10 days
What is the net payment index for a life insurance policy? - answerthe cost of the policy based
on amount of premium and frequency of payment
After a settlement contract payment is received, the viator has the right to rescind the contract
before - answer15 days
What is the surrender cost index for a life insurance policy? - answerthe cash value of a life
insurance policy at a given time
How many days does someone have to send funds to a viator after a beneficiary has been
changed due to a settlement contract? - answer3 business days
