MARYLAND PROPERTY & CASUALTY
INSURANCE PRACTICE QUESTIONS
& VERIFIED COMPLETE ANSWERS
PASSED
A broker requests a hearing with the Commissioner. Within how many days of the
request must the hearing be held? - Correct Answer ✔✔ 30
Collision coverage extends to rented passenger vehicles that have been rented for -
Correct Answer ✔✔ No more than 30 days.
Every vehicle insurance policy issued and delivered in Maryland must provide coverage
for medical, hospital and disability benefits, unless - Correct Answer ✔✔ Waived by the
first named insured.
When an insurer desires to cancel or non-renew a property insurance policy, they must
give advance written notice of - Correct Answer ✔✔ 45 days.
What is the maximum amount of a deductible on collision coverage for a damage to the
insured auto in an auto insurance policy? - Correct Answer ✔✔ $250
An agent just received his Maryland Life\Health insurance license. His specialty is
selling long-term care policies. In order to satisfy his continuing education requirement,
he must do which of the following? - Correct Answer ✔✔ Complete 24 hours of
continuing education, including 2 hours of long-term care education, and 3 hours of
ethics, every two years.
All of the following are true regarding rebates EXCEPT - Correct Answer ✔✔ Rebates
are allowed if it's in the best interest of the client.
An insurance producer is required to notify the Commissioner of any felony convictions
within how many days of the conviction? - Correct Answer ✔✔ 30 days.
Public adjusters represent - Correct Answer ✔✔ Insureds
PIP (personal injury protection) provides coverage for injury to the named insured,
resident relatives and - Correct Answer ✔✔ Pedestrians struck by the insured vehicle.
The Property and Casualty Guaranty Corporation is obligated to pay the full amount of
any claim between $100 and $300,000 if the claim occurs within what period of time? -
, Correct Answer ✔✔ 30 days after an insurer has been declared insolvent and before
the insurance policy has expired
An insurer or producer may NOT knowingly employ an individual to act in a fiduciary
capacity if that individual has been convicted of a felony or crime of moral turpitude
within the past - Correct Answer ✔✔ 10 years only.
Which of the following is an example of a producer's fiduciary responsibilities? - Correct
Answer ✔✔ A producer promptly forwarding premiums to the insurance company
All of the following would be considered an insurance transaction EXCEPT - Correct
Answer ✔✔ Obtaining an insurance license.
Which of the following would be considered false advertising? - Correct Answer ✔✔
Implying that the agent is the insurer
Before a producer can receive authority to place business with MAIF, the producer must
comply with the following actions, EXCEPT - Correct Answer ✔✔ Pay a $500 initiation
fee
After a client leaves his office, an agent makes corrections to the client's application, but
forgets to tell her. Two weeks later, the client is in an accident. The insurer will be
settling the claim based on the corrected form. This is - Correct Answer ✔✔ A violation
of the Insurance Code.
Your property policy will be due for renewal soon. When should you expect to receive
notice of renewal premium from your insurer? - Correct Answer ✔✔ 45
Which of the following would NOT be considered a flood? - Correct Answer ✔✔ Sewer
backup
Binders cease at the earliest of - Correct Answer ✔✔ Any of the above.
A business entity must meet all of the following qualifications EXCEPT - Correct Answer
✔✔ Have a board of directors.
In Maryland, binders are issued for a short period of time. A binder will cease to exist in
each of the following situations EXCEPT - Correct Answer ✔✔ 60 days following the
issue date of the binder.
Public adjusters are compensated by - Correct Answer ✔✔ Insureds
During a sales presentation a producer intentionally makes a statement which may
mislead the insurance applicant. This describes - Correct Answer ✔✔ Misrepresentation
INSURANCE PRACTICE QUESTIONS
& VERIFIED COMPLETE ANSWERS
PASSED
A broker requests a hearing with the Commissioner. Within how many days of the
request must the hearing be held? - Correct Answer ✔✔ 30
Collision coverage extends to rented passenger vehicles that have been rented for -
Correct Answer ✔✔ No more than 30 days.
Every vehicle insurance policy issued and delivered in Maryland must provide coverage
for medical, hospital and disability benefits, unless - Correct Answer ✔✔ Waived by the
first named insured.
When an insurer desires to cancel or non-renew a property insurance policy, they must
give advance written notice of - Correct Answer ✔✔ 45 days.
What is the maximum amount of a deductible on collision coverage for a damage to the
insured auto in an auto insurance policy? - Correct Answer ✔✔ $250
An agent just received his Maryland Life\Health insurance license. His specialty is
selling long-term care policies. In order to satisfy his continuing education requirement,
he must do which of the following? - Correct Answer ✔✔ Complete 24 hours of
continuing education, including 2 hours of long-term care education, and 3 hours of
ethics, every two years.
All of the following are true regarding rebates EXCEPT - Correct Answer ✔✔ Rebates
are allowed if it's in the best interest of the client.
An insurance producer is required to notify the Commissioner of any felony convictions
within how many days of the conviction? - Correct Answer ✔✔ 30 days.
Public adjusters represent - Correct Answer ✔✔ Insureds
PIP (personal injury protection) provides coverage for injury to the named insured,
resident relatives and - Correct Answer ✔✔ Pedestrians struck by the insured vehicle.
The Property and Casualty Guaranty Corporation is obligated to pay the full amount of
any claim between $100 and $300,000 if the claim occurs within what period of time? -
, Correct Answer ✔✔ 30 days after an insurer has been declared insolvent and before
the insurance policy has expired
An insurer or producer may NOT knowingly employ an individual to act in a fiduciary
capacity if that individual has been convicted of a felony or crime of moral turpitude
within the past - Correct Answer ✔✔ 10 years only.
Which of the following is an example of a producer's fiduciary responsibilities? - Correct
Answer ✔✔ A producer promptly forwarding premiums to the insurance company
All of the following would be considered an insurance transaction EXCEPT - Correct
Answer ✔✔ Obtaining an insurance license.
Which of the following would be considered false advertising? - Correct Answer ✔✔
Implying that the agent is the insurer
Before a producer can receive authority to place business with MAIF, the producer must
comply with the following actions, EXCEPT - Correct Answer ✔✔ Pay a $500 initiation
fee
After a client leaves his office, an agent makes corrections to the client's application, but
forgets to tell her. Two weeks later, the client is in an accident. The insurer will be
settling the claim based on the corrected form. This is - Correct Answer ✔✔ A violation
of the Insurance Code.
Your property policy will be due for renewal soon. When should you expect to receive
notice of renewal premium from your insurer? - Correct Answer ✔✔ 45
Which of the following would NOT be considered a flood? - Correct Answer ✔✔ Sewer
backup
Binders cease at the earliest of - Correct Answer ✔✔ Any of the above.
A business entity must meet all of the following qualifications EXCEPT - Correct Answer
✔✔ Have a board of directors.
In Maryland, binders are issued for a short period of time. A binder will cease to exist in
each of the following situations EXCEPT - Correct Answer ✔✔ 60 days following the
issue date of the binder.
Public adjusters are compensated by - Correct Answer ✔✔ Insureds
During a sales presentation a producer intentionally makes a statement which may
mislead the insurance applicant. This describes - Correct Answer ✔✔ Misrepresentation
