Michigan Laws and Rules

A producer may give an insurance applicant an article of merchandise having an invoice value of _____ or less

$5

For individual health insurance, coverage for pre-existing conditions may be excluded for up to ____ months after insurance of the policy

12

A producer is hired to sell insurance for an insurer. Upon submission of the agency contract application the producer must be appointed by the insured within ____ days

15

To be classified as a small employer in Michigan, an employer must employ

2-50 employees

Michigan requires a licensee complete ___ hours of continuing education on the subject of ethics ever reporting.

3

The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within _____ days

30

A baby is born to a husband and wife come bird under a family accident and health insurance policy. If the newborn is covered at birth, The first payment for the additional coverage will become due in ____ days.

31

A life insurance application in Michigan may backdate the application for up to ____ months.

6

And insurance producer license is required for which of the following

A business entity soliciting insurance

Under Michigan law which of the following would not be considered an illegal document

A promotional item with the producers name and address valued at $5

In the Michigan insurance code, chapter 45, insurance fraud defines financial loss as all of the following EXCEPT

Additional premiums

Which of the following is included in the entire contract according to the entire contract provision

Application

A newborn must be covered under an existing health policy

At the moment of birth

Any change of address by a licensee requires notice within 30 days to which of the following

Commissioner

Which of the following does restorative dental treatment cover

Crowns

The ________ Reserves the right to renew a small employer health

Employer

Which of the following is considered to be an act of misrepresentation

Falsifying the term, benefits, advantages, or conditions of an insurance policy

HMO plans are required to provide

Home health care

ABC insurance agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip this is an unlawful insurance practice known as

Illegal inducement

Under which circumstance may a deferred insurance commission be paid to an individual

Individual was a licensed producer at the time of sale

And ensure is required to offer which of the following to each long-term care applicant at the time of purchase

Inflation protection

A Medicare supplement policy issued in the state of Michigan is required to provide each of the following except

It must include outpatient prescription drug coverage

Under Michigan insurance code chapter 45 financial loss can be defined as

Loss of income

Which of the following is an example of the illegal act of defamation

Making a statement that is false or maliciously critical of the financial condition of an insurer

Which of the following is NOT covered under workers compensation

Pain and suffering

A producer's fiduciary duty requires that

Premiums are forwarded to the insurer on a timely basis

Which of these is the best example of misrepresentation

Providing incorrect, misleading, incomplete or materially untrue information in a license application

Which of the following is an example of a producer his fiduciary duty

Recording receipt and remittance of premiums due to the insurance company

In the state of Michigan, a licensed producer

Represents the insurer

Upon finding a producer guilty of forgery, the commissioner may take all of the following actions EXCEPT

Require the producer to notify his/her clients

And example of endodontic treatment is

Root canal

A life insurance application may be backdated to

Save on premiums

Which of the following actions is required by a producer who is replacing an existing life insurance policy

Submit to the replacing ensure a list of the policies to be replaced

Under which circumstances me a minor receive proceeds from the death benefit

The minor must have an appointed guardian

According to the Taft-Hartley act insurance premium payments made by an employer must be paid to the

Trust

The act of using misrepresentation to induce in insured person to terminate an existing policy and purchase a new policy is referred to as

Twisting

A life insurance policy sold in Michigan may be contested by the insurer only during the first _______ year(s) of the contract

Two

The act of _________ insurance does not require an individual to hold an insurance producer license

Underwriting

And example of intimidation is

Using threat or forced to restrict fair trade in the transaction of insurance

A universal life policy owner must receive a notice of cash surrender value at least every

Year