MT LIFE ON EXAM QUESTIONS WITH
100% CORRECT ANSWERS
The Commissioner may not reissue a license to a person whose license has been
revoked until after____year. - Correct Answers -1
appointment of a producer is___________ until canceled by the insurer. - Correct
Answers -perpetual
includes solicitation, inducement, negotiations, and effectuation of a contract of
insurance. - Correct Answers -Transacting insurance
An individual licensed in another state and residing in that state must apply to the
Commissioner for a ____________ - Correct Answers -nonresident license
Exclusions for preexisting conditions for an individual health policy are available for
_______years back and ________monthsforward. - Correct Answers -3, 12
A qualified insurance company with a certificate of authority from the department to sell
in that state is an_____________ - Correct Answers -authorized insurer/user
An insurance company owned and controlled by stockholders is a _________ - Correct
Answers -stock insurance company.
A group life policy for a labor union must cover at least______ members at the date of
issue. - Correct Answers -25
Group life insurance delivered in this montana must insure the lives of more than______
individual. - Correct Answers -1
A person covered by a group policy has the right to convert their coverage to an
individual policy within_______ days of termination of the group plan or their
employment, without proving insurability. - Correct Answers -31
At least ____% of eligible members must be insured if the insured members pay a
portion of the premiums - Correct Answers -75%
The temporary license is valid for a period of not over____ days - Correct Answers -90
What is the max producer can be fined - Correct Answers -$5000
100% CORRECT ANSWERS
The Commissioner may not reissue a license to a person whose license has been
revoked until after____year. - Correct Answers -1
appointment of a producer is___________ until canceled by the insurer. - Correct
Answers -perpetual
includes solicitation, inducement, negotiations, and effectuation of a contract of
insurance. - Correct Answers -Transacting insurance
An individual licensed in another state and residing in that state must apply to the
Commissioner for a ____________ - Correct Answers -nonresident license
Exclusions for preexisting conditions for an individual health policy are available for
_______years back and ________monthsforward. - Correct Answers -3, 12
A qualified insurance company with a certificate of authority from the department to sell
in that state is an_____________ - Correct Answers -authorized insurer/user
An insurance company owned and controlled by stockholders is a _________ - Correct
Answers -stock insurance company.
A group life policy for a labor union must cover at least______ members at the date of
issue. - Correct Answers -25
Group life insurance delivered in this montana must insure the lives of more than______
individual. - Correct Answers -1
A person covered by a group policy has the right to convert their coverage to an
individual policy within_______ days of termination of the group plan or their
employment, without proving insurability. - Correct Answers -31
At least ____% of eligible members must be insured if the insured members pay a
portion of the premiums - Correct Answers -75%
The temporary license is valid for a period of not over____ days - Correct Answers -90
What is the max producer can be fined - Correct Answers -$5000
