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Life and Health Insurance Producer Exam

Policy provisions (MT): practice questions

Our Life & Health Insurance bank has 6 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Montana

Under Montana's required notice-of-claim provision for individual disability policies, written notice is due within what time?

  1. 90 days after the loss occurs
  2. 1 year after the loss occurs
  3. 20 days after the loss occurs, or as soon as reasonably possible
  4. 6 months after the loss occurs or begins
Show the answer

D. 6 months after the loss occurs or begins — MCA 33-22-208(1).

Question 2 · Montana

Within what time after premium default must a Montana ordinary life policy allow reinstatement?

  1. 5 years
  2. 3 years
  3. 2 years
  4. 6 months
Show the answer

B. 3 years — MCA 33-20-112.

Question 3 · Montana

What minimum grace period must a Montana individual disability policy with monthly premiums provide?

  1. 10 days
  2. Two weeks
  3. 7 days
  4. 31 days
Show the answer

A. 10 days — MCA 33-22-206(1).

Question 4 · Montana

What grace period must a Montana individual life policy (not industrial) provide for premiums after the first?

  1. 60 days
  2. 7 days
  3. 30 days or, at the insurer's option, 1 month of not less than 30 days
  4. 10 days
Show the answer

C. 30 days or, at the insurer's option, 1 month of not less than 30 days — MCA 33-20-104.

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