Massachusetts Insurance Licensing Exam
A person who commits a deceptive act or practice may be fined not more than
$1,000
In Mass, a fire policy covering a multi-unit residential property must provide a tenant relocation benefit for each rental unit up to the amount of
$1,000
An individual who violates a cease and desist order issued by the Commissioner will be subject to a fine of
$10,000
An employee who dies as a result of a work-related injury is entitled to burial expenses of up to
$4,000
At what time does a property contract go into affect in Mass?
12:01am
Collision insurance coverage may be refused to an insured under the assigned risk plan if they have had more than how many at-fault accidents in 3 years?
4
A producer must report to the Commissioner any administrative action taken against them by the governmental agency within
45 days
Which of the following would NOT be considered an employee for workers' compensation purposes?
A taxicab driver who is an independent contractor
Which of the following is NOT a benefit provided under workers' compensation policy?
Elective surgery
When a producer collects money from a prospective insured, where should the money be placed?
In a premium trust account
Workers' compensation benefits would NOT be payable to which of the following individuals?
Joann, who is injured by her own serious and willful misconduct
All of the following statements are correct regarding Mass' CE requirements EXCEPT
Licensed producers and insurance advisors must comply with the regulation
Under a standard fire policy, an insurer is liable for which of the following losses?
Loss while the premises are vacant for a period of 20 days
A person who has been unable to obtain a motor vehicle liability insurance policy through normal markets may obtain a policy through which of the following?
Mass Assigned Risk Plan
When an employer attempts to obtain workers' compensation coverage but is unable to do so in the voluntary market, coverage may be offered by Which of the following
Mass Assigned Risk Plan
Which of the following statements regarding an adviser's license is CORRECT?
No CE requirements are needed to maintain an adviser's license
All of the following are powers and duties of the Commissioner EXCEPT
Prosecuting brokers who violate state insurance laws
An applicant for insurance, who knowingly shares a producer's commission in return for purchasing a policy is guilty of
Rebating
Offering a valuable consideration to an applicant or insured, which is not specified in an insurance policy, best describes
Rebating
What process would be followed if an insured and an insurer disagree on the amount of a fire loss?
Reference of the matter to referees
Insured of an insolvent insurer who sustain a loss in Mass may have their claim paid by
The Mass insurers Insolvency Fund
Which of the following is NOT eligible to obtain a temporary producer's licenses?
The employees of a producer who is taking an extended LOA
Which of the following parties is responsible for the payment of examination expenses?
The insurer being examined
Limited collision coverage will not pay for a claim if
The owner of the at-fault vehicle cannot be identified
All of the following situations describe the unfair trade practice of larceny EXCEPT
a producer is overdue in sending premiums to an insurer after collecting them from an insured
A producer doing business under an assumed name must notify the Commissioner
prior to using the assumed name
If the Commissioner finds that an individual is impersonating a producer, he may be assessed which of the following penalties?
$100 fine
Which of the following indicate the minimum limits that a motor vehicle liability policy may be issued for in Mass?
$40,000 due to bodily injury or death of 2 or more persons in one accident
The auto insurance assigned risk plan must odder an insured increased property damage liability limits of at least
$50,000
The standard deductible for Comprehensive coverage under the Mass Auto Policy is
$500
A fire or casualty insurer must provide the insured with how many days' written notice when cancelling a policy of insurance for nonpayment of premium?
10 days
An individual who lets her producer license lapse may reinstate her license within how many months without having to take another licensing exam?
12 months
In Mass, a producer must be
18 years old
A temporary license may be issued for no longer than
180 days
A producer is required to maintain a complaint record and retain those records for a period of
2 years
Part 6 of the Mass Automobile Insurance Policy provides coverage for all reasonable medical and funeral expense incurred within how many years from the date of the accident?
2 years
An adviser's license renews every
3 years
A police form may not be used in Mass unless is has been approved by the Commissioner or has been on file for at least
30 days
An insurer must provide how many days' notice to the Commissioner following the termination of a producer's appointment?
30 days
After a producer's initial 36-month license renewal period, how many CE credits must be earned prior to their next renewal?
45 hours
In Mass, workers' compensation benefit payment have a waiting period of how many days?
5 days
Which of the following statements concerning the cancellation of a property insurance policy is NOT correct?
5 days' notice of cancellation must be provided by an insured
The Commissioner must inspect the financial records of each domestic company every
5 years
An insurer, as part of a new advertising campaign, may offer prospective purchasers of insurance
an attractive calendar
If a court determines that an auto insurer was unreasonable in refusing to pay a claim, the insured is entitled to
double the amount of damage
All of the following are requirements of an insurance adviser EXCEPT
earning 60 CE credits during the first 3 years following licensure
An insurer may cancel a motor vehicle insurance policy for all of the following EXCEPT
the insured was at fault in a car accident
An insurer may deny PIP benefits to a person whose conduct contributed to his injury in any of the following ways while operating a motor vehicle EXCEPT
the person accidentally committed a misdemeanor
When an insurer appoints a producer as its agent, the Commissioner must be notified
within 15 days
A producer who changes his address must notify the Commissioner
within 30 days