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Montana Laws and Rules Exam 2025 Questions and Answers commissioner - ....ANSWER ...-The Commissioner of Insurance supervises the operations of the Montana Insurance Department. The Commissioner also makes rules and regulations to help carry out the provisions of the Montana insurance code Examination of Records - ....ANSWER ...-The Commissioner may conduct a financial examination as often as deemed appropriate in order to determine the solvency of the company. At the very least, a company shall be examined every 5 years. Hearing - ....ANSWER ...-The Commissioner may hold a hearing whenever deemed necessary. All hearing must be held or refused within 30 days after Commissioner receives the demand. The Commissioner must give notice of the time and place of a hearing at least 10 days in advance. Penalties - ....ANSWER ...-After the hearing, The Commissioner can impose a fine of up to $25,000 upon anyone who violates the Montana insurance code. (up to $5,000 for insurance producers. Cease and Desist - ....ANSWER ...-The Commissioner can issue and cease and desist order to anyone violating the Montana insurance code. Annual Statements - ....ANSWER ...-All insurance companies authorized to do business in Montana must file with the commissioner a statement of their financial position by March 1st of each year. …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1