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Montana Life Insurance Exam 2025 Questions and Answers Rates must be filed with the commissioner of insurance ______ days before a form is used - ....ANSWER ...-60 days The commissioner must examine an insurer at least every ____ years? ....ANSWER ...-5 years Guaranty Association - ....ANSWER ...-A state mandated association of all insurance companies designed to protect consumers from impaired or insolvent companies. All insurers that provide direct life and disability insurance policies or annuity contracts are required to be members. Minimum age to obtain a producer's license: - ....ANSWER ...-18 years old The insurer must file a notice of appointment with the Commissioner within ____ days of agency contract - ....ANSWER ...-15 days The commissioner may issue a temporary producer license for a maximum of _____ days to a surviving spouse, business partner, or employee if a producer dies, becomes disabled, or is called to active military service - ....ANSWER ...-90 days Producers must retain records of all transactions for how many years? ....ANSWER ...-3 years …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1