Maryland Laws and rules exam with correct
answers
A producer who is licensed in Maryland but resident in another
state is called a
1. nonresident producer
2. foreign producer
3. reciprocal producer
4. limited lines producer - ...,.🔹VERIFIED ANSWER **✔✔1
John the insurance producer has an insurance license that expires
in 6 months. If he files an application for renewal before the
expiration date, his license will
1. remain in effect until a new one is issued
2. be automatically renewed regardless of any violations
3.be renewed upon determination of legal compliance within a 60-
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,day period following the license expiration date
4.renew without the normal requirements - ...,.🔹VERIFIED
ANSWER **✔✔1
What may be the result of replacing an existing life insurance
policy with a new one?
1.Fine
2.Penalty tax
3.Capital gains tax
4. Surrender charge - ...,.🔹VERIFIED ANSWER **✔✔4
Which of the following basics is a producer's fiduciary
responsibility?
1. Collecting premiums and paying them to the insurance company
2. Maintaining a separate bank account for each insurance
company the producer represents
3. Acting as a referee in the event of a disagreement between an
insured and the insurance company
4. Advising prospective insureds of the lowest rates available
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, - ...,.🔹VERIFIED ANSWER **✔✔1.
Which of the following is NOT an eligible dependent on an
Accident and Health policy?
1. 27 year old married child
2. 25 yr old married child
3. 19 year old full time student
4. unmarried disabled child - ...,.🔹VERIFIED ANSWER **✔✔1
The act of using misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy is referred
to as
1. twisting
2. subrogation
3. a life settlement
4.coercion - ...,.🔹VERIFIED ANSWER **✔✔1
In Maryland, a full-time employee of a small employer must work
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answers
A producer who is licensed in Maryland but resident in another
state is called a
1. nonresident producer
2. foreign producer
3. reciprocal producer
4. limited lines producer - ...,.🔹VERIFIED ANSWER **✔✔1
John the insurance producer has an insurance license that expires
in 6 months. If he files an application for renewal before the
expiration date, his license will
1. remain in effect until a new one is issued
2. be automatically renewed regardless of any violations
3.be renewed upon determination of legal compliance within a 60-
1 \\\\\\/ \\\\\\
23
,day period following the license expiration date
4.renew without the normal requirements - ...,.🔹VERIFIED
ANSWER **✔✔1
What may be the result of replacing an existing life insurance
policy with a new one?
1.Fine
2.Penalty tax
3.Capital gains tax
4. Surrender charge - ...,.🔹VERIFIED ANSWER **✔✔4
Which of the following basics is a producer's fiduciary
responsibility?
1. Collecting premiums and paying them to the insurance company
2. Maintaining a separate bank account for each insurance
company the producer represents
3. Acting as a referee in the event of a disagreement between an
insured and the insurance company
4. Advising prospective insureds of the lowest rates available
2 \\\\\\/ \\\\\\
23
, - ...,.🔹VERIFIED ANSWER **✔✔1.
Which of the following is NOT an eligible dependent on an
Accident and Health policy?
1. 27 year old married child
2. 25 yr old married child
3. 19 year old full time student
4. unmarried disabled child - ...,.🔹VERIFIED ANSWER **✔✔1
The act of using misrepresentation to induce an insured person to
terminate an existing policy and purchase a new policy is referred
to as
1. twisting
2. subrogation
3. a life settlement
4.coercion - ...,.🔹VERIFIED ANSWER **✔✔1
In Maryland, a full-time employee of a small employer must work
3 \\\\\\/ \\\\\\
23
