Mt Life on Exam UPDATED ACTUAL
Exam Questions and CORRECT Answers
The Commissioner may not reissue a license to a person whose license has been revoked until
after____year. - CORRECT ANSWER -1
appointment of a producer is___________ until canceled by the insurer. - CORRECT
ANSWER - perpetual
includes solicitation, inducement, negotiations, and effectuation of a contract of insurance. -
CORRECT ANSWER - Transacting insurance
An individual licensed in another state and residing in that state must apply to the Commissioner
for a ____________ - CORRECT ANSWER - nonresident license
Exclusions for preexisting conditions for an individual health policy are available for
_______years back and ________monthsforward. - CORRECT ANSWER - 3, 12
A qualified insurance company with a certificate of authority from the department to sell in that
state is an_____________ - CORRECT ANSWER - authorized insurer/user
An insurance company owned and controlled by stockholders is a _________ - CORRECT
ANSWER - stock insurance company.
A person who is not a legal resident may be licensed in this state as a________ - CORRECT
ANSWER - nonresident.
The conversion period from group to individual life insurance is_____days with no proof of
insurability required. - CORRECT ANSWER - 31
, Inducement offered in the sale of insurance is called - CORRECT ANSWER - Rebating
Replacing a policy based on misrepresentation is called - CORRECT ANSWER - Twisting
Required documents for replacing policies must be kept for_____years. - CORRECT
ANSWER -5
Making an oral or written statement to an insured person that is false or misleading is -
CORRECT ANSWER - defamation
The Commissioner of Insurance/Department of Insurance is responsible for
administering________ - CORRECT ANSWER - Montana insurance laws
what is the Purpose of guarantee association - CORRECT ANSWER - protect insured
from insolvent insurers
T/F The insured is entitled to interest if they owe $5 or more for a past due claim - CORRECT
ANSWER - True
Montana uses a_____and_____ system to regulate new policy forms. - CORRECT
ANSWER - File and Wait
T/F Health insurance companies must provide maternity coverage the same as it would be
provided for any illness - CORRECT ANSWER - True
The beneficiary under a credit disability insurance policy is the______ - CORRECT
ANSWER - creditor
under the freedom choice act an insured is able to choose there doctor on which health plan -
CORRECT ANSWER - stock or mutual indemnity plan
Exam Questions and CORRECT Answers
The Commissioner may not reissue a license to a person whose license has been revoked until
after____year. - CORRECT ANSWER -1
appointment of a producer is___________ until canceled by the insurer. - CORRECT
ANSWER - perpetual
includes solicitation, inducement, negotiations, and effectuation of a contract of insurance. -
CORRECT ANSWER - Transacting insurance
An individual licensed in another state and residing in that state must apply to the Commissioner
for a ____________ - CORRECT ANSWER - nonresident license
Exclusions for preexisting conditions for an individual health policy are available for
_______years back and ________monthsforward. - CORRECT ANSWER - 3, 12
A qualified insurance company with a certificate of authority from the department to sell in that
state is an_____________ - CORRECT ANSWER - authorized insurer/user
An insurance company owned and controlled by stockholders is a _________ - CORRECT
ANSWER - stock insurance company.
A person who is not a legal resident may be licensed in this state as a________ - CORRECT
ANSWER - nonresident.
The conversion period from group to individual life insurance is_____days with no proof of
insurability required. - CORRECT ANSWER - 31
, Inducement offered in the sale of insurance is called - CORRECT ANSWER - Rebating
Replacing a policy based on misrepresentation is called - CORRECT ANSWER - Twisting
Required documents for replacing policies must be kept for_____years. - CORRECT
ANSWER -5
Making an oral or written statement to an insured person that is false or misleading is -
CORRECT ANSWER - defamation
The Commissioner of Insurance/Department of Insurance is responsible for
administering________ - CORRECT ANSWER - Montana insurance laws
what is the Purpose of guarantee association - CORRECT ANSWER - protect insured
from insolvent insurers
T/F The insured is entitled to interest if they owe $5 or more for a past due claim - CORRECT
ANSWER - True
Montana uses a_____and_____ system to regulate new policy forms. - CORRECT
ANSWER - File and Wait
T/F Health insurance companies must provide maternity coverage the same as it would be
provided for any illness - CORRECT ANSWER - True
The beneficiary under a credit disability insurance policy is the______ - CORRECT
ANSWER - creditor
under the freedom choice act an insured is able to choose there doctor on which health plan -
CORRECT ANSWER - stock or mutual indemnity plan
