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Montana State Life Insurance Exam 2025 Questions and Answers How often does the Commissioner perform examination of an insurer? ....ANSWER ...-Once every 5 years After the examination is completed, when does the examiner's report must be filed with the Commissioner? - ....ANSWER ...-Within 60 days What is the window for a rebuttal? - ....ANSWER ...-30 days If an investigatory hearing is needed, when does it need to be held? ....ANSWER ...-No less than 20 days. How long must the producers keep records of each insurance transaction? ....ANSWER ...-3 years What needs to be on the Commissioner orders and notices to be effective? ....ANSWER ...-1. The effective date, intent or purposes. 2. The ground on which the order is based. 3. The Montana Insruance Code provisions relating to the action taken or proposed to be taken; failure to designate a particular provision does not prohibit the Commissioner's right to rely on a particular provision. What is the fine for failure to cooperate with the Commissioner, give full and truthful information, answer in writing to any material inquiry, or appear for testimony relationve …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1