MT PROPERTY & CASUALTY
INSURANCE EXAM
The Commissioner must examine an insurer at least every ____ years
5 years
____ max fine per violation of violation of cease and desist orders; each day costs
as a new violation
$1,000
____ is the maximum aggregate fine of violating cease and desist orders
$10,000
what is the maximum fine for violating a provision of the law code or regulations
$25,000
what is the maximum fine for producers and adjusters for violating the insurance
code
$5,000
what is the minimum age to obtain a producer's license
18 years old
producers license may be reinstated within ___ months with payment of fees and
completion of continuing education requirements
, 12 months
The Commissioner may issue a temporary producer license for a maximum of
____ days to a surviving spouse, business partner, or employee if a producer dies,
becomes disabled, or is called to active military service
90 days
The violation of the Insurance Code for nonresident producer penalties will result
in a fine up to $____ for each violation
$50,000
nonresident license may be revoked or suspended for up to ______ years
5 years
what is the total continuing education hours required for each two-year licensing
period
24 credit hours
includes 3 hrs of ethics
additional 1 credit hr on changed in MT insurance statutes and administrative
rules
Premium finance charges may not be greater than ___ annually
21%
The fine for acting as a producer or adjuster is ______ (without a license)
$5,000
Noice of appointment of producer must be filed with the Commissioner within
_____ days
15 days
Producers must retain records of all transactions for ____ years
INSURANCE EXAM
The Commissioner must examine an insurer at least every ____ years
5 years
____ max fine per violation of violation of cease and desist orders; each day costs
as a new violation
$1,000
____ is the maximum aggregate fine of violating cease and desist orders
$10,000
what is the maximum fine for violating a provision of the law code or regulations
$25,000
what is the maximum fine for producers and adjusters for violating the insurance
code
$5,000
what is the minimum age to obtain a producer's license
18 years old
producers license may be reinstated within ___ months with payment of fees and
completion of continuing education requirements
, 12 months
The Commissioner may issue a temporary producer license for a maximum of
____ days to a surviving spouse, business partner, or employee if a producer dies,
becomes disabled, or is called to active military service
90 days
The violation of the Insurance Code for nonresident producer penalties will result
in a fine up to $____ for each violation
$50,000
nonresident license may be revoked or suspended for up to ______ years
5 years
what is the total continuing education hours required for each two-year licensing
period
24 credit hours
includes 3 hrs of ethics
additional 1 credit hr on changed in MT insurance statutes and administrative
rules
Premium finance charges may not be greater than ___ annually
21%
The fine for acting as a producer or adjuster is ______ (without a license)
$5,000
Noice of appointment of producer must be filed with the Commissioner within
_____ days
15 days
Producers must retain records of all transactions for ____ years
