Maryland Life and Health exam
"upside potential, but no downside risk" when it comes to the stock market overall -
ANS-indexed annuity
1000 people - ANS-mortality rate is based on
15 days - ANS-how soon should the insured receive necessary claim forms?
2 - ANS-after a life insurance policy has been in force for more than ___ yearsr the policy is
considered incontestable
2 - ANS-The Time Limit on Certain Defenses (Incontestable) period is _____ years under
individual health and disability contracts.
2 years - ANS-time limit on certain defenses (incontestable) period?
20% - ANS-Medicare part B coinsurance
5 months - ANS-Waiting period from the start of a disability to be eligible to apply for SS
disability is
50% tax penalty - ANS-Failure to take a required minimum distribution can lead to a
a condition that is terminal - ANS-Which of the following could initiate the Accelerated Benefits
Provision or Rider of a life policy?
a consumer becomes a licensee policyholder or agrees to pay for financial advice about
insurance - ANS-with regard to a privacy regulation, a customer relationship is estalblished
when
a policy summary - ANS-a producer must include their name and address on what?
alerts insurer home office underwriters of errors, omissions or misrepresentations made on
insruance applications - ANS-MIB
annually - ANS-dividents are declated
appointed by the governor, subject to the state senate - ANS-the insurance commissioner is
are the net premiums paid plus interest earned and reflect potential insurnace contract
obligations - ANS-policy reserves
, assuming the responsbility for loss - ANS-risk retention
at policy inception there is a lack of insurable interest - ANS-why have states outlawed stranger
originated life insurane transactions
benefit period - ANS-with long term care insurance coverage, the longer the ____is, the higher
the premium is
benefits are funded by a combitation of taxes and premium dollars and coverage is elective -
ANS-medicare part b
both parties to a contract must perform certain dutites to make the contract enforceable -
ANS-conditional contract
both the cause and result must be unintended and not under the control of the insured -
ANS-accidental means
business overhead expense - ANS-what plan could generate a taxable event to the recipient?
claims experience - ANS-experience rating looks at
common stock of the insurer - ANS-in order to receive a stock dividend, the policyowerner must
own
consumer investigatives report - ANS-The insurer's underwriter may find information about an
applicant's moral character, hobbies, work and general reputation from a:
corridor deductible - ANS-The deductible that applies after the Basic Plan is exhausted and the
Supplemental Major Medical Coverage begins is called
date of birth - ANS-If a policy requires the payment of an additional premium for the continuation
of coverage for a newborn, the insurer must be notified within 31 days of the ______.
decrease - ANS-surrender charges typically _____over tie
decreases - ANS-the surrender charge schedule for a variable universal life policy
generally____ over time
deductible - ANS-Group Accidental Death and Dismemberment premiums are _______ by the
company paying the premiums as a business expense.
Defined benefit - ANS-whT qualified plans puts the investment risk entirely on the employer
sponsoring the plan?
"upside potential, but no downside risk" when it comes to the stock market overall -
ANS-indexed annuity
1000 people - ANS-mortality rate is based on
15 days - ANS-how soon should the insured receive necessary claim forms?
2 - ANS-after a life insurance policy has been in force for more than ___ yearsr the policy is
considered incontestable
2 - ANS-The Time Limit on Certain Defenses (Incontestable) period is _____ years under
individual health and disability contracts.
2 years - ANS-time limit on certain defenses (incontestable) period?
20% - ANS-Medicare part B coinsurance
5 months - ANS-Waiting period from the start of a disability to be eligible to apply for SS
disability is
50% tax penalty - ANS-Failure to take a required minimum distribution can lead to a
a condition that is terminal - ANS-Which of the following could initiate the Accelerated Benefits
Provision or Rider of a life policy?
a consumer becomes a licensee policyholder or agrees to pay for financial advice about
insurance - ANS-with regard to a privacy regulation, a customer relationship is estalblished
when
a policy summary - ANS-a producer must include their name and address on what?
alerts insurer home office underwriters of errors, omissions or misrepresentations made on
insruance applications - ANS-MIB
annually - ANS-dividents are declated
appointed by the governor, subject to the state senate - ANS-the insurance commissioner is
are the net premiums paid plus interest earned and reflect potential insurnace contract
obligations - ANS-policy reserves
, assuming the responsbility for loss - ANS-risk retention
at policy inception there is a lack of insurable interest - ANS-why have states outlawed stranger
originated life insurane transactions
benefit period - ANS-with long term care insurance coverage, the longer the ____is, the higher
the premium is
benefits are funded by a combitation of taxes and premium dollars and coverage is elective -
ANS-medicare part b
both parties to a contract must perform certain dutites to make the contract enforceable -
ANS-conditional contract
both the cause and result must be unintended and not under the control of the insured -
ANS-accidental means
business overhead expense - ANS-what plan could generate a taxable event to the recipient?
claims experience - ANS-experience rating looks at
common stock of the insurer - ANS-in order to receive a stock dividend, the policyowerner must
own
consumer investigatives report - ANS-The insurer's underwriter may find information about an
applicant's moral character, hobbies, work and general reputation from a:
corridor deductible - ANS-The deductible that applies after the Basic Plan is exhausted and the
Supplemental Major Medical Coverage begins is called
date of birth - ANS-If a policy requires the payment of an additional premium for the continuation
of coverage for a newborn, the insurer must be notified within 31 days of the ______.
decrease - ANS-surrender charges typically _____over tie
decreases - ANS-the surrender charge schedule for a variable universal life policy
generally____ over time
deductible - ANS-Group Accidental Death and Dismemberment premiums are _______ by the
company paying the premiums as a business expense.
Defined benefit - ANS-whT qualified plans puts the investment risk entirely on the employer
sponsoring the plan?
