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Michigan Property and Casualty Insurance License
Exam ACTUAL VERIFIED EXAM COMPLETE
QUESTIONS AND CORRECT ANSWERS LATEST
UPDATE THIS YEAR.pdf||NEWEST EXAM!!!
Property and casualty must compete how many hours of
continuing education every two years - Answer-24
If a producer undergoes criminal prosecution, he must
notify the commissioner within how many days? - Answer-
30
At least how many days can a building be unoccupied
before the insurer can deny coverage? - Answer-60
In a worker's comp policy, Michigan law requires that the
Bureau of Worker's Disability Compensation be notified in
advance of the date of cancellation of a policy how many
days in advance? - Answer-20
What are the required limits of liability for auto liability
policies in Michigan? - Answer-20K/40K/10K
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How many days does an insurer have to notify the insured
in writing of cancellation of a motor vehicle policy? -
Answer-20
How many companies determine the MIchigan PLacement
facility rates? - Answer-5
Cancellation of an auto policy is not subject to appeal for
how many of the first number of days? - Answer-55
What is it called when there is a legal doctrine stating that
an agent has authority via written or oral consent by the
principal? - Answer-Express consent
If you hit a PARKED CAR, what part of an insurance policy
will pay for the damage to the PARKED CAR? - Answer-
Part A - Liability
What does PAP stand for? - Answer-Personal Auto Policy
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State-sponsored plans for high risk drivers, also called
"Automobile Insurance Plans" - Answer-Assigned Risk
Plans
Supplementary Payments are included under what part of
a PAP? - Answer-Part A (Liability)
Up to how much is covered under supplementary
payments for BAIL BONDS? - Answer-$250
(Primary liability limits / total limits of all policies) x loss = -
Answer-The Other Insurance Formula
Up to how much can you earn per day in LOSS OF
EARNINGS? - Answer-$250
How long does part B cover medical and funeral expenses
under a PAP? - Answer-3 Years
Under what part of a PAP would the passengers in the
OTHER CAR involved in a collision be coverd? - Answer-
Part A - Liability
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The Governer appoints a Commissioner of Insurance
every how many years? - Answer-4
Maximum fine for knowingly violating cease and desist
order is - Answer-$10,000 and possible licesnse
revokation.
Temporary Licenses are issued for how many days? -
Answer-180
An applicant who has been denied an insurance license
has how many days to protest the denial? - Answer-30
The commissioner must examine the books, records, etc.
of an insurance company at least once every how many
years? - Answer-5
Rates must be filed with the commissioner within how
many days of use? - Answer-30
The transfer to the insurance company of the insured's
right to collect damages from another party. - Answer-
Subrogation
Michigan Property and Casualty Insurance License
Exam ACTUAL VERIFIED EXAM COMPLETE
QUESTIONS AND CORRECT ANSWERS LATEST
UPDATE THIS YEAR.pdf||NEWEST EXAM!!!
Property and casualty must compete how many hours of
continuing education every two years - Answer-24
If a producer undergoes criminal prosecution, he must
notify the commissioner within how many days? - Answer-
30
At least how many days can a building be unoccupied
before the insurer can deny coverage? - Answer-60
In a worker's comp policy, Michigan law requires that the
Bureau of Worker's Disability Compensation be notified in
advance of the date of cancellation of a policy how many
days in advance? - Answer-20
What are the required limits of liability for auto liability
policies in Michigan? - Answer-20K/40K/10K
,2|Page
How many days does an insurer have to notify the insured
in writing of cancellation of a motor vehicle policy? -
Answer-20
How many companies determine the MIchigan PLacement
facility rates? - Answer-5
Cancellation of an auto policy is not subject to appeal for
how many of the first number of days? - Answer-55
What is it called when there is a legal doctrine stating that
an agent has authority via written or oral consent by the
principal? - Answer-Express consent
If you hit a PARKED CAR, what part of an insurance policy
will pay for the damage to the PARKED CAR? - Answer-
Part A - Liability
What does PAP stand for? - Answer-Personal Auto Policy
,3|Page
State-sponsored plans for high risk drivers, also called
"Automobile Insurance Plans" - Answer-Assigned Risk
Plans
Supplementary Payments are included under what part of
a PAP? - Answer-Part A (Liability)
Up to how much is covered under supplementary
payments for BAIL BONDS? - Answer-$250
(Primary liability limits / total limits of all policies) x loss = -
Answer-The Other Insurance Formula
Up to how much can you earn per day in LOSS OF
EARNINGS? - Answer-$250
How long does part B cover medical and funeral expenses
under a PAP? - Answer-3 Years
Under what part of a PAP would the passengers in the
OTHER CAR involved in a collision be coverd? - Answer-
Part A - Liability
, 4|Page
The Governer appoints a Commissioner of Insurance
every how many years? - Answer-4
Maximum fine for knowingly violating cease and desist
order is - Answer-$10,000 and possible licesnse
revokation.
Temporary Licenses are issued for how many days? -
Answer-180
An applicant who has been denied an insurance license
has how many days to protest the denial? - Answer-30
The commissioner must examine the books, records, etc.
of an insurance company at least once every how many
years? - Answer-5
Rates must be filed with the commissioner within how
many days of use? - Answer-30
The transfer to the insurance company of the insured's
right to collect damages from another party. - Answer-
Subrogation
