Michigan Property & Casualty Insurance License Exam — All Questions
AllGeneral Insurance PrinciplesProperty Insurance FundamentalsDwelling Policy (DP)Homeowners Policy (HO)Personal Auto PolicyCasualty & Liability InsuranceCommercial LinesWorkers CompensationPolicy Structure & ProvisionsMichigan P&C Law & RegulationMichigan No-Fault Auto CoverageMichigan Licensing & CE
2 questions
Michigan Licensing & CE
Before a licensed Michigan producer may transact business for a particular insurer, what must occur?
- a.Nothing further once the license is issued
- b.The insurer must appoint the producer, with the appointment on file with DIFS✓
- c.The producer must post a surety bond with the state treasurer
- d.The producer must move to the insurer's home state
A license authorizes a person to act as a producer, but to represent a specific insurer that company must appoint the producer, with the appointment recorded with the Michigan DIFS. A producer may hold appointments from several insurers at once.
Michigan Licensing & CE
Which statement best describes continuing education for a Michigan resident P&C producer?
- a.CE is never required
- b.CE is required only for the first renewal
- c.State-approved continuing education, including an ethics component, is required each renewal cycle✓
- d.CE can be satisfied only by retaking the licensing exam
Following the NAIC model, Michigan requires resident producers to complete approved continuing education each renewal cycle, including an ethics portion. The exact hour totals are set by the Michigan DIFS and should be verified before renewal.