Montana life and health final exam
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which of the following is true about most blue cross blue shield organizations? - CORRECT
ANSWER - They are non profit organizations
Which of the following is not included in hospitalization expense coverage - CORRECT
ANSWER - Surgical fees
A policy of adhesion may only be modified by who? - CORRECT ANSWER - The
insurance company
Which of the following is not included in an annuity contract? - CORRECT ANSWER -
AD&D rider
An insurer must provide an insured with claim forms within __ days after receiving notice of a
loss. - CORRECT ANSWER - 15
Credit life insurance must be sold as? - CORRECT ANSWER - Term life
Cash value loans may charge a maximum interest of? - CORRECT ANSWER - 8%
The premium charges for limited lines credit insurance is excessive if the insurer does not pay
out at least ? Of premiums earned - CORRECT ANSWER - 50%
A certificate of ? Is required to become a third party administrator - CORRECT
ANSWER - Registration
, In Montana the minimum age for purchasing insurance is? - CORRECT ANSWER - 15
A ? Insurer is one permitted to do business in Montana - CORRECT ANSWER -
Authorized
Producers must report insurance fraud to the commissioner within ? Days - CORRECT
ANSWER - 60
How long is a temporary license in effect for? - CORRECT ANSWER - 90 days
The provision that defines to whom the insurer will pay benefits to is called? - CORRECT
ANSWER - Payment of claims
A ? Life policy offers the owner investments in products such as money market funds, long term
bonds, and equities - CORRECT ANSWER - Variable
The amount of monthly disability benefits payable under social security is affected by which of
the following factors? - CORRECT ANSWER - Amount of the benefits available from
other sources
Which settlement option pays a stated amount to an annuitant but no residual value to a
beneficiary? - CORRECT ANSWER - Life income
What does an authorized insurer require? - CORRECT ANSWER - Certificate of authority
What type of rider would be added to an accident and health policy if the policy owner wants to
ensure the policy will continue if he/she ever becomes totally disabled? - CORRECT
ANSWER - Waiver of premium rider
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which of the following is true about most blue cross blue shield organizations? - CORRECT
ANSWER - They are non profit organizations
Which of the following is not included in hospitalization expense coverage - CORRECT
ANSWER - Surgical fees
A policy of adhesion may only be modified by who? - CORRECT ANSWER - The
insurance company
Which of the following is not included in an annuity contract? - CORRECT ANSWER -
AD&D rider
An insurer must provide an insured with claim forms within __ days after receiving notice of a
loss. - CORRECT ANSWER - 15
Credit life insurance must be sold as? - CORRECT ANSWER - Term life
Cash value loans may charge a maximum interest of? - CORRECT ANSWER - 8%
The premium charges for limited lines credit insurance is excessive if the insurer does not pay
out at least ? Of premiums earned - CORRECT ANSWER - 50%
A certificate of ? Is required to become a third party administrator - CORRECT
ANSWER - Registration
, In Montana the minimum age for purchasing insurance is? - CORRECT ANSWER - 15
A ? Insurer is one permitted to do business in Montana - CORRECT ANSWER -
Authorized
Producers must report insurance fraud to the commissioner within ? Days - CORRECT
ANSWER - 60
How long is a temporary license in effect for? - CORRECT ANSWER - 90 days
The provision that defines to whom the insurer will pay benefits to is called? - CORRECT
ANSWER - Payment of claims
A ? Life policy offers the owner investments in products such as money market funds, long term
bonds, and equities - CORRECT ANSWER - Variable
The amount of monthly disability benefits payable under social security is affected by which of
the following factors? - CORRECT ANSWER - Amount of the benefits available from
other sources
Which settlement option pays a stated amount to an annuitant but no residual value to a
beneficiary? - CORRECT ANSWER - Life income
What does an authorized insurer require? - CORRECT ANSWER - Certificate of authority
What type of rider would be added to an accident and health policy if the policy owner wants to
ensure the policy will continue if he/she ever becomes totally disabled? - CORRECT
ANSWER - Waiver of premium rider
