Maine Insurance Exam
State Law
Supplement
Personal Auto Policies in Maine must provide medical payments in the minimum
amount of - ✔️✔️$2000
Licensed producers must report a change in name or address to the Superintendent
within - ✔️✔️30 days
For worker's compensation claims, the maximum attorney's fees in a case tried to
completion may not exceed what percentage of the benefits accrued, after expenses
are deducted? - ✔️✔️30%
Whom does an insurance producer represent in an insurance transaction? - ✔️✔️The
Insurer
Commercial lines policies may be cancelled by the insurer upon what number of days
advance written notice for a reason other than nonpayment of premium? - ✔️✔️30
days
An owner of a vehicle registered in Maine must maintain no less than which of the
following amounts of motor vehicle financial responsibility? - ✔️✔️50/100/25
An insurer's license to do business in Maine is called? - ✔️✔️A certificate of Authority
A resident producer who moves to another state must notify the Superintendent within
how many days? - ✔️✔️30 Days
Any individual who violates any provision of the Maine Insurance Title or any order of
the Superintendent may be subject to a civil penalty of between ? - ✔️✔️$500 and
$5,000 for each individual violation. Corporations can be fined between $2,000 and
$15,000 for violations
Mutual Insurer - ✔️✔️Is an incorporated insurer without permanent stock
What regulates the insurance business in Maine? - ✔️✔️Bureau of Insurance
Who selects the Superintendent of Insurance? - ✔️✔️The Governor
