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Montana Laws and Rules-insurance Exam 2025 Questions and Answers A company should be examined once every __ years - ....ANSWER ...-5 How many days must a hearing be held or refused? - ....ANSWER ...-30 days How many days notice must be given for time and place of hearing? ....ANSWER ...-10 days An order for a hearing must be made how many days after? - ....ANSWER ...-30 days If a public hearing is request how many days must it be completed ....ANSWER ...-30 days What is the penalty fine for someone who violates Montana insurance code? ....ANSWER ...-25k (5k for producers) When must financial statements be filed - ....ANSWER File and Use System- new rates - ....ANSWER ...-March 1st ...-New premium rates may be used as soon as the insurer files them File and wait system - approval forms - ....ANSWER ...-Policies, contracts, endorsements and applications must be filed and approved at least 60 days before and after delivery. …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1